Question: FASB codification; locate and extract relevant information and cite authoritative support for a financial reporting issue; related-party disclosures; Enron Corporation LO34 Enron Corporation was a

FASB codification; locate and extract relevant information and cite authoritative support for a financial reporting issue; related-party disclosures; Enron Corporation LO34 Enron Corporation was a darling in the energy-provider arena, and in January 2001 its stock price rose above $100 per share. A collapse of investor confidence in 2001 and revelations of accounting fraud led to one of the largest bankruptcies in U.S. history. By the end of the year, Enrons stock price had plummeted to less than $1 per share. Investigations and lawsuits followed. One problem area concerned transactions with related parties that were not adequately disclosed in the companys financial statements. Critics stated that the lack of information about these transactions made it difficult for analysts following Enron to identify problems the company was experiencing. Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine each of the following: Real World Financials

1. The specific eight-digit Codification citation (XXX-XX-XX-X) that outlines the required information on related-party disclosures that must be included in the notes to the financial statements? 2. Describe the disclosures required for related-party transactions

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