Codification database (https://asc.fasb.org)
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2. Access the codification database (https://asc.fasb.org) give a summary (1 paragraph) of each of the below references:
a. ASC 830-230-55-1
b. ASC 926-330-35-1
c. ASC 954-440-25-2
d. ASC 505-20-50-1
e. ASC 710-10-05-6.
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Solution Summary
The expert accesses the codification database for a given summary. The response addresses the query posted in 531 words with APA References.
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The response addresses the query posted in 531 words with APA References.
//Accounting Standards Codification (ASC) provides a number of codes that are applied to the preparation and presentation of financial statements. In the following paragraphs, we have discussion a brief over ASC 830-230-55-1, ASC 926-330-35, ASC 954-440-25-2, ASC 505-20-50-1, and ASC 710-10-05-6 in terms of calculation of amount and follow-up of provisions of accounting standards for fair presentation of the financial statements.//
a. ASC 830-230-55-1
This reference shows the preparation and presentation of cash flow statement for manufacturing units that have foreign operations. This reference deals with the accounting and formatting of reconciliation of net income to net cash flows from operating activities with the detailed description of relevant data and information for the purpose of meaningful and useful presentation. This reference deals with the presentation of operating activities with regard to operating income and operating cash flows in order to understand the factors that create ...
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- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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