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Reference the relevant topic, subtopic, section and paragraph(s). You should reference the codification by using FASB ASC XXX-XX-XX-XX. Your grade will primarily focus on whether
Reference the relevant topic, subtopic, section and paragraph(s). You should reference the codification by using FASB ASC XXX-XX-XX-XX. Your grade will primarily focus on whether you are identifying the proper topics, subtopics, sections and paragraphs in the codification. You can summarize each reference in 1-2 sentences. You should not be copying any of the codification into your memo as the client can go look directly at the codification reference.
- The client has a defined benefit plan and needs to better understand the components of the net periodic pension cost. Determine the reference(s) from the codification system that explain the GAAP guidance on this topic.
- The company issued stock options for the first time this year to five of their employees. The client wants to understand what key information needs to be disclosed in the footnotes in regards to the issuance of the stock options. Determine the reference(s) from the codification system that explain the GAAP guidance on this topic.
- The company has numerous debt investments. How do they measure the debt security investments in periods after the initial purchase and recording of the debt investment. Determine the reference(s) from the codification system that explain the GAAP guidance on this topic.
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