Chapter 13, Problem 13.10E

FASB codification research

• LO13–3, LO13–4, LO13–5

Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org).

Required:

Determine the specific citation for accounting for each of the following items:

1. 1. If it is only reasonably possible that a contingent loss will occur, the contingent loss should be disclosed.
2. 2. Criteria allowing short-term liabilities expected to be refinanced to be classified as long-term liabilities.
3. 3. Accounting for the revenue from separately priced extended warranty contracts.
4. 4. The criteria to determine if an employer must accrue a liability for vacation pay.