Adjusted Net Income ’ means net income adjusted for non-cash expenses (income) such as amortization of intangible assets, deferred income taxes, and certain other expenses (income). The Company believes that Adjusted net income is useful supplemental information as it provides an indication of the...
For all other entities, including not-for-profit organizations and employee benefit plans, the ASU is effective for fiscal yearsbeginning after December 15, 2020, and interim periods within fiscal yearsbeginning after December 15, 2021. Early adoption is permitted for all entities for fiscal yearsbe...
TheFinancial Accounting Standards Board (FASB)is a private, non-profit organization that is responsible for creating and updating accounting standards in the United States. These accounting standards must be used by all non-governmental entities that prepare financial statements in terms of US Generally...
In the financial accounting and financial reporting field, the Financial Accounting Standards Board (FASB) is a not-for-profit organization that develops guidelines for businesses and non-profits.Answer and Explanation: Timing manipulations to meet projection goals constitute...
Gains and losses on derivative instruments, nonderivative instruments that are designated and qualify as hedging instruments, and related hedged items. Amortization of license agreements for program material. Impairment of license agreements for program material. ...
For each reportable segment, the ASU requires public entities to disclose an amount for other segment items that represents “the difference between reported segment revenues less the [significant] segment expenses disclosed . . . and reported segment profit or loss.” A public entity would...
1. What characteristics distinguish nonbusiness organizations from profit-oriented enterprises? 2. Define a fund as the term is applied in accounting for the activities of governmental units and othe Discuss how to determine whether an expenditure is an Asset or an Expense to the...
For entities that early adopted ASC Topic 842, the practical expedient to not separate lease and nonlease components may be elected either in the first period following the issuance of the update or on the original effective date of ASC Topic 842. The practical expedient may be applied either ...
Question: Briefly explain the importance of the knowledge base or organization that is referred to forFASB. FAF: The FAF (Financial Accounting Foundation) is a government organization that establishes and upgrades accounting standards and policies. The members of FAF ra...
The crucial role of FASB is the setting of accounting standards in the United States. It is a non-profit entity responsible for setting the financial...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer y...