Week 3 Codification Exercise
ACCT564
Week 3 Assignment
1. Watch the FASB Codification Tutorial – Available through the course shell http://asc.fasb.org/media/1615_Codification_MainMenu_Web/launcher.html
2. Access the codification database through your course shell and give a summary (1 paragraph) of each of the below references:
a. ASC 210-10-01
b. ASC 505-20-25
c. ASC 908-360-25
Please put it in your own words!
A/ ASC 210-10-01.
I could not find the 210-10-01 so I will over the 210-10 (General) In this section the FASB explains how the accounting standars was updated. It also talks about the securities and exchange section (SEC). We can say that the section identifies the changes to this subtopics resulting from accounting standard updates.
The SEC oversees all accounting methods and transparency for investor in the stock market. There are 5 updates we can research further.
Accounting Standards Updates:
1-Business Compbinations
2-Intangibles-Goodwill and other
3-Other Expenses
4-Financial Services- Insurance
5-Plan Accounting-Defined Contribution Pension Plans.
6-More
Information retrieved from:
https://asc.fasb.org/link&sourceid=SL6882561-166439&objid=6882559
A/ASC 505-20-25 Stock Dividends and Stock Splits
In this code the FASB explains the criteria for the treatment as Stock Dividend or stock split as other forms that will be explained further.
Stock Dividend in Form: Section 25-2 explains that the number of additional shares issued as stock dividend may impact the the market price. So the company will make a stock Split.
When the company dividends does not pass 20 or 25 percent of the number of previously outstanding shares would call for treatment as stock dividend.
he corporation's representations to its shareholders as to the nature of the issuance is one of the principal considerations in determining whether it shall be recorded as a stock dividend or a stock split. Nevertheless, the issuance of new shares in ratios of less than 20 or 25 percent of the
Week 3 Assignment
1. Watch the FASB Codification Tutorial – Available through the course shell http://asc.fasb.org/media/1615_Codification_MainMenu_Web/launcher.html
2. Access the codification database through your course shell and give a summary (1 paragraph) of each of the below references:
a. ASC 210-10-01
b. ASC 505-20-25
c. ASC 908-360-25
Please put it in your own words!
A/ ASC 210-10-01.
I could not find the 210-10-01 so I will over the 210-10 (General) In this section the FASB explains how the accounting standars was updated. It also talks about the securities and exchange section (SEC). We can say that the section identifies the changes to this subtopics resulting from accounting standard updates.
The SEC oversees all accounting methods and transparency for investor in the stock market. There are 5 updates we can research further.
Accounting Standards Updates:
1-Business Compbinations
2-Intangibles-Goodwill and other
3-Other Expenses
4-Financial Services- Insurance
5-Plan Accounting-Defined Contribution Pension Plans.
6-More
Information retrieved from:
https://asc.fasb.org/link&sourceid=SL6882561-166439&objid=6882559
A/ASC 505-20-25 Stock Dividends and Stock Splits
In this code the FASB explains the criteria for the treatment as Stock Dividend or stock split as other forms that will be explained further.
Stock Dividend in Form: Section 25-2 explains that the number of additional shares issued as stock dividend may impact the the market price. So the company will make a stock Split.
When the company dividends does not pass 20 or 25 percent of the number of previously outstanding shares would call for treatment as stock dividend.
he corporation's representations to its shareholders as to the nature of the issuance is one of the principal considerations in determining whether it shall be recorded as a stock dividend or a stock split. Nevertheless, the issuance of new shares in ratios of less than 20 or 25 percent of the