How should a material unusual or infrequent gain or loss be disclosed in the financial statements?

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ekkarill92 answered 2 years ago

Identify where judgments in the financial statements should be disclosed.

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How should the write down of goodwill be reported? What information should be disclosed related to...

How should the write down of goodwill be reported? What information should be disclosed related to goodwill?

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Q1) Why should executory contracts be disclosed to financial statement users? A. They call for some form of future performance, which creates an obligation for the reporting company B. They represent a possible inflow of economic resources C. They create current income tax obligations D. They create an obligation contingent upon the occurrence of a past event Q2) Which one of the following contingencies should most likely not be disclosed on Communications, Inc.’s financial statements until it has been resolved?...

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how should write down of goodwill be reported? what information should be disclosed related to goodwill? sony has two businesses with different financial trends,should consolidated financial statements provide specific segment discosure information? what should the company disclose? reporting insufficient information or excluding required disclosure can be misleading or perceived as unethical.what ethical standards are applicable to sony's reporting?

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Question 45 When financial statements contain material misstatements or the absence of a material disclosure required by GAAP, the Auditor will typically: a Issue an unqualified opinion b Issue a modified opinion c Issue a disclaimer of opinion d Resign from the audit engagement Question 46 The auditor has a responsibility under both AICPA and PCAOB auditing standards to evaluate whether there is substantial doubt about the client’s ability to continue as a going concern. True False True, but only...

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