Unit Lease Research - FASB Steve J Accounting Theory and Research ACC/541 March 10‚ 2000 Professor Cecil L Regarding the potential new investing opportunities with your customer‚ our group has spent a significant portion of time exploring the nature of the leasing relationships available for this type of transaction. One initial observation we see is the significant increase in the current fleet available to the business. Because of the percentage increase in the
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Group Case – FASB Comment Letters Dell Company FASB wants to institute a new regulation on the financial statements about the share-based payment‚ and for these procedure the organization releases on its webite an exposure draft on the subject. One of the reasons for sharing this information is to enhance the proposed techniques through collaboration of companies and / or individuals in the accounting area. Dell‚ an IT company that registered $2‚37 billion net income in 2013‚ was one of the companies
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define in FASB‚ the FASB Accounting Standards Codification and Hierarchy of Generally Accepted Accounting Principles. In this paper the reader will learn what the FASB Codification System is and the purpose for the FASB Codification. This paper will discuss the nine content areas located in the FASB Codification System. According to FASB (2012)‚ “The FASB Accounting Standards Codification I the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be
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FASB/GASB Comparison For-profit business is driven by profit earnings. Financial statements provide information in relation to that performance. For-profit businesses will prepare reports based on the Financial Accounting Standards Board (FASB). Not-for-profit businesses are not driven by the same motivations and are hold to the Governmental Accounting Standards Board (GASB). Three distinctions set GASB organizations apart. 1) Receipt of significant recourses that are not expecting proportionate
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alternative may be to have the Financial Accounting Foundation (FAF) exhort its influence over the FASB and GASB to coordinate their operations One difference between the two organizations is that the rules of the GASB need not apply to that of FASB. If the GASB had not covered an accounting topic that the FASB had‚ then the FASB standards would be used by the government entities. Under the rules of the FASB‚ SFAS No. 87 Employers Accounting for Pension must be followed by the financial entity. This
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FASB Codification System Orientation Paper This paper will talk about what the FASB Codification System is‚ what the purpose of the FASB Codification System is‚ what the nine content areas located in the FASB Codification System are‚ and what types of items are located under each content area. What Is “The Codification is the single source of authoritative nongovernmental U.S. generally accepted accounting principles (US GAAP). The Codification is effective for interim and annual periods ending
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FASB Accounting Standards Codification: 410 Asset Retirement and Environmental Obligations Abstract The purpose of this research paper is to summarize research on codification topic 410 based on the information found in different academic databases. The first part of the paper will focus on the FASB Codification database. The second part of the paper will compare and contrast three other databases on the same codification 410 within the RIA Checkpoint databases: AICPA: Auditing
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Historical cost basis. Book value method. x Income statement approach. 4. (TCO G) The conclusions presented in FASB No. 157 support which FASB Conceptual Framework? (Points : 2) FASB Conceptual Framework No. 2 FASB Conceptual Framework No. 6 FASB Conceptual Framework No. 7 x All of the above None of the above 5. (TCO G) The major business valuation organization that has developed rigorous business
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Running Header: THE FASB FASB and the Standard-Setting process Name: Institution: Course: Tutor: Date: Abstract Financial Accounting Standards Board (FASB) is a seven member board that consists of accounting professionals who establishes and communicates financial accounting and reporting standards known as generally accepted accounting principles (GAAP) in United States. The standards’ quest is to govern the preparation of the corporate financial reports and hence ensuring
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of the FASB. The GAAP has many organizations that exist through the history of rule-making‚ including GASAC. http://www.ask.com/question Three organizations developed‚ or influenced the development of‚ the GAAP in the United States: the SEC‚ the AICPA‚ and the FASB. A separate but similar set of rules and principles govern state and local government reporting‚ as determined by the Governmental Accounting Standards Board (GASB). Accountants generally apply GAAP through the use of FASB pronouncements
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