CPA FAR - Subsequent Events
Terms in this set (4)
What are the two categories of subsequent events?
Existed at the balance sheet date and did not exist at the balance sheet date.
A subsequent event existing at the Balance Sheet date requires what kind of disclosure?
Recognition in the financial statements.
A subsequent event that did not exist at the Balance Sheet date requires what kind of disclosure?
When can refinancing current debt be classified as noncurrent?
The following are issued
1. Issue stock to extinguish the debt;
2. Refinance the current liability with a noncurrent liability;
3. Enter into an irrevocable agreement to refinance the current liability with a noncurrent liability.
OTHER SETS BY THIS CREATOR
CPA FAR - Format and Content of Comprehensive Annual Financial Report
CPA FAR - Not-for-Profit Accounting & Reporting
CPA FAR - Computer Software Costs
CPA FAR - Segment Reporting
THIS SET IS OFTEN IN FOLDERS WITH...
CPA FAR - Combined Financial Statements
CPA FAR - Contingencies, Commitments, and Guarantees
CPA FAR - Fair Value Measurements, Disclosures, and Reporting
CPA FAR - Foreign Currency Transactions and Translation