Using the FASB Codification Site in the Help Section: Use the System as needed to help you determine the correct answers to these questions.
Q1: With regard to Subtopic 10, Overall, of Topic 505, Equity
a. How many FASB Sections does the Subtopic contain?
b. How many SEC Sections does the Subtopic contain?
Q2: What are the titles of the Subsections in Section 30 of Subtopic 10 of Topic 845?
Q3In the Subsequent Measurement Section of the Defined Benefit Plans—Other Postretirement Subtopic of the Compensation—Retirement Benefits Topic: a. What is the title of the paragraph group that contains the paragraph labeled "35- 129"? b. What is the title of the paragraph group that is the "parent" of the paragraph group titled Prior Service Costs? c. What is the title of the Subsection that contains the paragraph labeled "35-167"?
Exercise E1: In the System, navigate to the landing page for Subtopic 10, Overall, of Topic 480, Distinguishing Liabilities from Equity. Then navigate to the landing page for Section 45, Other Presentation Matters, of that Subtopic.
a. Observe that both Section 45 and Section S45 are shown in the "Table of Contents" outline near the top of the Section’s page and that each of those Sections contains a General Subsection as shown in the outline.
b. Expand the outline for the General Subsection of Section S45. Observe that the Subsection’s three first-level paragraph groups are displayed in the outline (i. e., Form and Content; Redeemable Preferred Stock; and Classification of Redeemable Securities).
c. Expand the outline for the Classification of Redeemable Securities paragraph group of the General Subsection of Section S45. Observe that the paragraph group’s three second-level paragraph groups are displayed in the outline (i. e., General; Classification of Certain Redeemable Financial Instruments Awarded in Conjunction with Share-Based Payment Arrangements; and Classification by a Sponsor of Puttable Securities Held by an Employee Stock Ownership Plan).
d. Navigate to the General paragraph group within the Classification of Redeemable Securities paragraph group of the General Subsection of Section S45 by clicking the paragraph group’s title in the "Table of Contents" outline. Observe that the page has been scrolled down to the paragraph labeled "S45-3," which is the first paragraph of the paragraph group.
e. Observe that the text of paragraph S45-3 is "See paragraph 480-10-S99-3A, SEC Staff Announcement: Classification and Measurement of Redeemable Securities, for SEC Staff views on classification of mandatorily redeemable securities." Also observe that the citation "480-10-S99-3A" (i. e., paragraph 3A of Section S99 of Subtopic 10 of Topic 480) is a link to the cited paragraph. Click the link to navigate to the cited paragraph.
f. Observe that you have navigated to the page for Section S99 of Subtopic 10 of Topic 480 and that the page was automatically scrolled down to the paragraph labeled "S99-3A," which provides SEC guidance on the classification of redeemable preferred stock.
P2: A reporting entity that is an SEC registrant is planning to adopt, in a future reporting period, a recently issued accounting standard.
a. Does the SEC require the entity to disclose in the current reporting period the future effect that the accounting change is expected to have on the entity’s financial statements? (Hint: the relevant Codification Topic is located in the Presentation Area.)
b. Identify the specific Codification Topic, Subtopic, Section, and paragraph in which the SEC guidance that answers the above question is located.