9th Edition

ISBN: 9781260681956

Author: SPICELAND

Publisher: MCG

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Textbook Question

Chapter 11, Problem 11.33E

FASB codification research

• LO11–8

The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles.

Required:

1. Obtain the relevant authoritative literature on the impairment or disposal of long-lived assets using the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Indicate the Codification topic number that provides guidance on accounting for the impairment of long-lived assets.
2. What is the specific citation that discusses the disclosures required in the notes to the financial statements for the impairment of long-lived assets classified as held and used?
3. Describe the disclosure requirements.

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Chapter 11, Problem 11.32E

Chapter 11, Problem 11.34E

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Chapter 11 Solutions

INTERMEDIATE ACCOUNTING, W/CONNECT

Ch. 11 - Prob. 11.1Q Ch. 11 - Depreciation is a process of cost allocation, not...Ch. 11 - Identify and define the three characteristics of...Ch. 11 - Discuss the factors that influence the estimation...Ch. 11 - What is meant by depreciable base? How is it...Ch. 11 - Prob. 11.6Q Ch. 11 - Prob. 11.7Q Ch. 11 - Why are time-based depreciation methods used more...Ch. 11 - Prob. 11.9Q Ch. 11 - Prob. 11.10Q

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Solution Summary: The author describes the Financial Accounting Standards Board (FASB) as an independent seven member board of accounting professionals overseeing the creation of financial statements.

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