18. Which additional areas in the guidance are considered "required reading" for a researcher who has found general guidance in the Initial Measurement section, but who needs to be sure his or her search was thorough? (Name three other areas the researcher should consider.)
18. Which additional areas in the guidance are considered "required reading" for a researcher who has found general guidance in the Initial Measurement section, but who needs to be sure his or her search was thorough? (Name three other areas the researcher should consider.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:18. Which additional areas in the guidance are considered "required reading" for a researcher who has found general
guidance in the Initial Measurement section, but who needs to be sure his or her search was thorough? (Name
three other areas the researcher should consider.)
19. What is the name of the guidance currently issued by the FASB to update the Codification? Is this guidance
considered "authoritative" in its own right?
20. When should a researcher rely on guidance shown under "Pending Content" instead of existing content?
21. What is the purpose of the cross-reference feature in the Codification? When might this feature be useful to a
researcher?
22. What type of entity is permitted to apply accounting alternatives in the Codification? If a company elects to
apply a given accounting alternative, does it mean the company must apply all of the available accounting alter-
natives? Explain.
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