Business Finance - Accounting assignment 1
cwlhvv-3
assignment1.docxExample:
420-10-40
https://asc.fasb.org/1943274/2147481609
40 Derecognition
1 - this paragraph of “Reversal of Liability” provides guidance on if an event removes an entity's responsibility to settle a liability for a cost associated with an exit or disposal activity recognized in a prior period, the liability should be reversed.
Green highlight is the name of section.
Yellow highlight should be your OWN words summarize each section.
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Assignment:
420-10-15: https://asc.fasb.org/1943274/2147481748
15 Scope and Scope Exceptions: (half page)
420-10-25: https://asc.fasb.org/1943274/2147481690
25 Recognition: (equal space with 30, more than half page)
420-10-30 https://asc.fasb.org/1943274/2147481662
30 Initial Measurement: (equal space with 25, more than half page)
420-10-35 https://asc.fasb.org/1943274/2147481639
35 Subsequent Measurement (summarize section 35, 45, 50 in less than one page)
420-10-45 https://asc.fasb.org/1943274/2147482047
45 Other Presentation Matters (no need to summarize section 420-10-S45-1&2)
420-10-50 https://asc.fasb.org/1943274/2147482017
50 Disclosure (no need to summarize section 420-10-S50-1)
