The FASB ASC indicates that a business entity that prepares its financial statements in U S dollars and in accordance with U S GAAP is encouraged, but not required, to disclose supplementary information on the effects of changing prices It also describes the information that should be disclosed if ...

The FASB ASC indicates that a business entity that prepares its financial statements in U.S. dollars and

Question:

The FASB ASC indicates that a business entity that prepares its in U.S. dollars and in accordance with U.S. is encouraged, but not required, to disclose supplementary information on the effects of changing prices. It also describes the information that should be disclosed if such supplemental information is provided. Find, cite, and copy the FASB ASC paragraphs that discuss this issue.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...