Nonauthoritative: based on accounting literature not necessarily
accounting principles.
What constitutes U.S. GAAP?
How can the promulgation of an accounting standard impact economic
behavior? Discuss a specific example.
Distinguish between primary authoritative support and secondary
authoritative support.
AC 551 Unit 3 FASB Codification
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Identify the six topical areas where some 90 topics are located.
2. In the master glossary, determine if the FASB considers options as
securities or as cash. Explain your position.
According to guidance in the Codification, how should one account for
the direct and indirect costs of growing crops? In what Codification
section did you find this information?