Summarizing FASB Concepts

E 18-22

FASB codification research

LO1 LO5 LO8

Access the FASB's Codification Research System at the FASB website (www.fasb.org). Determine the specific citation for accounting for each of the following items:

1.

Requirements to disclose within the financial statements the pertinent rights and privileges of the various securities outstanding.

2.

Requirement to record a “small” stock dividend at the fair value of the shares issued.

3.

Requirement to exclude from the determination of net income gains and losses on transactions in a company's own stock.