After graduating from BSU, you take a job at a start-up company, Flutie Enterprises. Your boss is unsure of what the standards state about which accounting policies your new company will have to disclose in their footnotes. Write a formal business memo to your boss, Doug Flutie, in good form. Include responses to the following questions. Be sure to provide codification references for your responses.

a. Identify the literature that addresses the disclosure of accounting policies.

b. How are accounting policies defined in the literature?

c. What are the three scenarios that would result in detailed disclosure of the accounting methods used?

d. What are some examples of common disclosures that are required under this statement?