Case Topics

A. To find out which types of receivables are classified as “current assets,” I hovered over the “Presentation” area, and then hovered over Topic 210 for Balance Sheet. I then clicked on Section 45 for Other Presentation Matters.

B. FASB ASC 210-10-45-1(d)

C. The search terms that can be used are “current assets” and “receivables.”

D. FASB ASC 905-310 will provide guidance on agriculture receivables.

* To find an industry accounting issue related to the motion picture industry, I hovered over “Industry” on the left-side navigation menu and then hovered over “92X Entertainment.” Next, I hovered over “926- Entertainment- Films” and selected the subtopic, “20- Other Assets- Film Costs.” Last, I selected the section, “25 Recognition.”

* According to FASB ASC 926-20-25-1, film costs are an asset and should be included on the balance sheet separately.

* First, I clicked on the “Master Glossary” link on the left-side navigation menu and then clicked on the letter, “P.” I found the term, “postretirement benefits other than pensions” and clicked on the link for topic, “715.” I clicked on the expansion button for Subtopic 60 Defined Benefit Plans- Other Postretirement and clicked on Section 50 Disclosure.

* FASB ASC 715-60-50-2 indicates that this subsection gives information disclosing the effect of Medicare subsidy, as well as for when an employer with a postretirement health care benefit plan that gives prescription drug coverage but for when the employer has not been able to determine actuarial equivalency.

* According to FASB ASC 715-60-50-3, for the first reporting period, interim and annual, that the employer shows the effects of the subsidy for the accumulated postretirement benefit obligation and for the net periodic postretirement benefit cost, the employer should disclose:

* The amount the accumulated post retirement benefit decreases for benefits from past service

* The effect of the subsidy on...