INTERMEDIATE ACCOUNTING
8th Edition
ISBN: 9780078025839
Author: J. David Spiceland
Publisher: McGraw-Hill Education
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Question
Chapter 14, Problem 14.22E
(1)
To determine
Financial Accounting Standards Board (FASB)
FASB is an independent 7 member board, of accounting professionals overseeing the creation of financial statement. FASB standards are generally known as GAAP.
To Determine: The Specific citation for accounting disclosure requirements of maturities of long – term debt.
(2)
To determine
The estimation of the value of note having no ready market, and no interest rate is exchanged for a noncash asset without a readily available fair value.
(3)
To determine
The straight – line method can be used as an alternative to the interest method of calculating interest.
Expert Solution & Answer
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Students have asked these similar questions
Access the FASB Accounting Standards Codification at the FASB website ( www.fasb.org ). Determine the specific citation for accounting for each of the following items: 1. Disclosure requirements for maturities of long-term debt. 2. How to estimate the value of a note when a note having no ready market and no interest rate is exchanged for a noncash asset without a readily available fair value. 3. When the straight-line method can be used as an alternative to the interest method of determining interest.
t17
Intermediate Accounting 105
May I please have a GAAP explanation, along with examples providing concepts?
Under what conditions should a short-term obligation be excluded from current liabilities?
Thank you so much
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