Mandates disclosures to the financial statements

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Reference no: EM131294913

FASB ASC Questions

1. Determine the citation that mandates disclosures to the financial statements when a company decides to discontinue a component of the entity, though the assets are still held for sale. (I think it's 205-20-4-3)

2. Identify the authoritative guidance that lists all of the conditions for recognition at time of sale when the right of return exists. (I think it's 605-15-25-1)

3. Suppose a licensing arrangement requires a film maker to make significant changes in the film after its initial availability to a customer. Identify the citation that provides guidance to the film maker about when it should recognize revenue from the licensing agreement.

Reference no: EM131294913

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