Discuss the role of future events in the following revenue and expense recognition situations. a. Modification of
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a. Modification of terms under troubled debt restructuring in SFAS No. 114.
b. Pension accounting relative to measuring current expense in SFAS No. 87.
c. Other postretirement benefits under SFAS No. 106.
d. Full costing and successful efforts in oil and gas accounting as well as the SEC’s reserve recognition accounting proposal.
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a The main future event problem concerns to what extent the cash flows from the modification will be paid The historical interest rate is used rather ...View the full answer
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Related Book For 
Accounting Theory Conceptual Issues in a Political and Economic Environment
ISBN: 978-1412991698
8th edition
Authors: Harry Wolk, James Dodd, John Rozycki
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