460-10-25 |
Is the entity in compliance with the guidance in ASC 460-10-25-4?
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25-4 {At the inception of a guarantee, a guarantor shall recognize in its statement of financial position a liability for that guarantee. [FIN 45, paragraph 9] }{This Subsection does not prescribe a specific account for the guarantor’s offsetting entry when it recognizes a liability at the inception of a guarantee. That offsetting entry depends on the circumstances in which the guarantee was issued. See paragraph 460-10-55-23 for implementation guidance. [FIN 45, paragraph 11] }
Yes, so much joy here. I will try hard to get a post written tonight at home, since I actually have stuff to talk about. Two lessons, one with jumping involved, happened over the weekend! Here's a teaser, Violet is the best pony EVAR!
lookin forward to reading about the lessons!
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