Question

Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine each of the following: 

1. The topic number (Topic XXX) that provides the accounting for earnings per share. 

2. The specific eight-digit Codification citation (XXX-XX-XX-X) that describes the additional information for earnings per share that must be included in the notes to the financial statements. 

3. The specific eight-digit Codification citation (XXX-XX-XX-X) that requires disclosure of transactions affecting the number of common shares outstanding that occur after the most recent reporting period but before the financial statements are issued.

Answer 1

Accessing the FASB Acounting Standards Codification at the FASB website, following are the answers to the question.

1. TOPIC 260 provides the accounting for Earning Per Share.

2. The specific eight digit Codification Citation that describes the disclosure requirement and additional information for earning per share that must be included in the notes to financial statement is FASB ASC 260-10-50-1- EPS- Overall Disclosure.

3. The specific eight digit code citation that requires disclosure of transactions affecting the number of common shares outstanding that occure after the most recent reporting period but before the financial statements are issued is FASB ASC 260-10-45-11A.

 TOPIC 260 provides the accounting for Earning Per Share