Access the FASB\'s Codification Research System at the FASB website (www.fasb.or

Question

Access the FASB's Codification Research System at the FASB website (www.fasb.org). Determine the specific citation for each of the following items: The criteria for determining if a gain or loss should be reported as an extraordinary item. The calculation of the weighted average number of shares for basic earnings per share purposes. The alternative formats permissible for reporting comprehensive income. The classifications of cash flows required in the statement of cash flows.

1. The criteria for determining if a gain or loss should be reported as an extraordinary item.

2. The calculation of the weighted average number of shares for basic earnings per share purposes.

3. The alternative formats permissible for reporting comprehensive income.

4. The classifications of cash flows required in the statement of cash flows.

Explanation / Answer

1) FASB ASC 225 -20 - 45-2

2) FASB   ASC 260 - 10 -55 -2

3) FASB ASC - 220 -10 - 45-8

4) FASB ASC - 230 -10 -45 -1

1) FASB ASC 225 -20 - 45-2

2) FASB   ASC 260 - 10 -55 -2

3) FASB ASC - 220 -10 - 45-8

4) FASB ASC - 230 -10 -45 -1

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