ASC REFERENCE NUMBER PLS. The Sherwin Williams Company filed its Form 10-K for the fiscal year ended

ASC REFERENCE NUMBER PLS.

  
 

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The Sherwin Williams Company filed its Form 10-K for the fiscal year ended December 31, 2019 with the SEC on 2020-02-21. The Notes to the Financial Statements in Item 8 of the Report contains several references to the ASC. However, the company does not indicate the actual ASC reference numbers for those references, While this is not a financial reporting deficiency, there may be some institutional financial statement readers who might find those reference numbers to be useful. Additionally, students of financial reporting would welcome those references. REQUIRED In the table below, I have identified five examples where Sherwin Williams used the phrase "In accordance with ... Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC)" but did not disclose the actual reference numbers for the ASC. Task A: Access the ASC, identify the relevant ASC number and indicate the proper ASC reference number in the box next to each example in the table below. Task B: In the first paragraph above, I stated the following: However, the company does not indicate the actual ASC reference numbers for those references. While this is not a financial reporting deficiency, there may be some institutional financial statement readers who might find those reference numbers to be useful. Additionally, students of financial reporting would welcome those references. Do you agree with this statement? Why? Use no more than 200 words. You must use at least one expert or authoritative source in addressing this issue. An accounting professional who works for or audits an SEC registrant (e.g., SHW, FE, GT, SJM, etc.) is an appropriate expert. The Sherwin Williams Company filed its Form 10-K for the fiscal year ended December 31, 2019 with the SEC on 2020-02-21. The Notes to the Financial Statements in Item 8 of the Report contains several references to the ASC. However, the company does not indicate the actual ASC reference numbers for those references, While this is not a financial reporting deficiency, there may be some institutional financial statement readers who might find those reference numbers to be useful. Additionally, students of financial reporting would welcome those references. REQUIRED In the table below, I have identified five examples where Sherwin Williams used the phrase "In accordance with ... Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC)" but did not disclose the actual reference numbers for the ASC. Task A: Access the ASC, identify the relevant ASC number and indicate the proper ASC reference number in the box next to each example in the table below. Task B: In the first paragraph above, I stated the following: However, the company does not indicate the actual ASC reference numbers for those references. While this is not a financial reporting deficiency, there may be some institutional financial statement readers who might find those reference numbers to be useful. Additionally, students of financial reporting would welcome those references. Do you agree with this statement? Why? Use no more than 200 words. You must use at least one expert or authoritative source in addressing this issue. An accounting professional who works for or audits an SEC registrant (e.g., SHW, FE, GT, SJM, etc.) is an appropriate expert.

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