Question number 10. The flowchart is based on the Accounting Standards Codification.

Chapter 6 | Scope and Recognition Guidance: A Brief Introduction 181 10. Guidance within the Overview section (-05) of ASC 810-10 provides a flowchart that entities should follow Subtopic 810-10." when evaluating whether to consolidate another entity. The flowchart is entitled "Consolidation Analysis in a. Using a bullet-point list, list the steps shown in this first flowchart. b. Next, navigate to the scope section of ASC 810-10. Within which scope section paragraph are the condi- tions described that identify an entity as a variable interest entity? Name one characteristic of a VIE from this paragraph. c. Within which paragraph are scope exceptions to the variable interest model listed? Name one of these scope exceptions. Recognition Exercises Revenue Recognition Exercises 11. Within ASC 606-10 (the revised revenue model), where can a researcher find: a. The core principle? b. The five steps for applying the core principle? c. The objective of the guidance in this topic? d. Guidance on the incremental costs of obtaining a contract with a customer? of mar 12. Assume that Shumers, Inc. is a private company with a calendar year-end. Shumers must determine when and how it will adopt the revised revenue standard. apply ASC 606-10