Please provide an example of developing written recommendations for recording accounting entries related to real and personal property events, where such recommendations were supported by authoritative guidance, citing paragraphs from standards, concepts, technical bulletins, etc., from the Federal Accounting Standards Advisory Board (FASAB), Financial Accounting Standards Board (FASB) and/or similar accounting advisory boards. Such examples of real and personal property events may include, but are not limited to the following; acquisition of assets, property exchanges, capitalization versus the expense of costs, determining substantial completion of construction projects, and/or disposal or sale of assets.

Answer rating: 100% (QA)

lets consider an example scenario related to the acquisition of assets specifically real property and develop written recommendations for recording ac... View the full answer