Researching a Fortune 500 Company
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Researching a Fortune 500 Company.
There are several financial research databases that provide access to data on public companies' financials.
Using an online database, research a Fortune 500 company applying FAS161.
(1) Describe the purpose and scope of FAS 161
(2) Describe the company and their need for using FAS 161.
(3) How would the firm outline the basis for accounting decisions with respect to FAS 161?
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The expert examines researching a Fortune 500 Company.
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FAS 161
Purpose and Scope:
FAS 161 has the capability of improving the transparency level which is associated to financial reporting by through the act of requiring that enhanced disclosures that conveys the purpose of the derivative of an entity and the hedging activities in terms of the risks that should be managed. FAS 161 standard has the capability of expanding and providing a disclosure of the various requirements of the FASB statement 133. The affectivity of this standard is evident in the fiscal years and interim periods which begun after November 15th 2008. This standard covers all entities ...
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