Question: Go to: FASB Codification Database and prepare responses to the following questions. Provide specific Codification references for your responses ( see below for example )
Go to: FASB Codification Databaseand prepare responses to the following questions. Provide specific Codification references for your responses see below for example You must search in the Codification for where it discusses the particular topic and copy and paste the appropriate paragraph.
Hint: Accounting policies are found in the notes to the financial statements so you can use these terms to search and find the necessary information. Another key term is disclosures
a Identify the literature that addresses the disclosure of accounting policies.
b How are accounting policies defined in the literature?
c What are the three scenarios that would result in detailed disclosure of the accounting methods used?
d What are some examples of common disclosures that are required under this statement?
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