NOT IN USE – Custom ACC 4163: Contemporary Issues in Accounting Practice (UTSA)

by Hanlon, Collins

ISBN: 978-1-61853-578-8 | Copyright 2023

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Intermediate Accounting, 3e (pg. 1.7-1)
Chapter 7: Revenue Recognition (pg. 1.7-1)
LO 7-1: Apply the five-step revenue recognition process (pg. 1.7-3)
Demo 7-1: Application of the Five-Step Revenue Recognition Process (pg. 1.7-4)
Review 7-1: Identify the contract with the customer—Step 1 (pg. 1.7-5)
LO 7-2: Identify the contract with the customer—Step 1 (pg. 1.7-5)
Conditions of a Valid Contract (pg. 1.7-6)
Demo 7-2: Validity of a Contract (pg. 1.7-7)
Review 7-2: Validity of a Contract (pg. 1.7-8)
LO 7-3: Identify the performance obligations in the contract—Step 2 (pg. 1.7-9)
Identification of Separate Performance Obligation(s) (pg. 1.7-9)
Demo 7-3: Identification of Separate Performance Obligation(s) (pg. 1.7-11)
Review 7-3: Identification of Separate Performance Obligation(s) (pg. 1.7-13)
LO 7-4: Determine the transaction price—Step 3 (pg. 1.7-14)
Fixed Consideration (pg. 1.7-14)
Variable Consideration (pg. 1.7-14)
Demo 7-4A: Estimating Transaction Price When It Includes Variable Consideration (pg. 1.7-15)
Demo 7-4B: Reducing the Transaction Price for Consideration Payable (pg. 1.7-17)
Review 7-4: Transaction Price (pg. 1.7-18)
LO 7-5: Allocate the transaction price to performance obligations in the contract—Step 4 (pg. 1.7-19)
Adjusted Market Assessment Approach (pg. 1.7-19)
Expected Cost Plus a Margin Approach (pg. 1.7-20)
Residual Approach (pg. 1.7-20)
Demo 7-5A: Transaction Price Allocation—Standalone Selling Prices Are Observable (pg. 1.7-20)
Demo 7-5B: Transaction Price Allocation—Standalone Selling Prices Are Estimated (pg. 1.7-21)
Review 7-5: Allocation of Transaction Price (pg. 1.7-22)
LO 7-6: Recognize revenue when (or as) the seller satisfies a performance obligation—Step 5 (pg. 1.7-23)
Recognition of Revenue Over Time (pg. 1.7-23)
Recognition of Revenue at a Point in Time (pg. 1.7-24)
Contract Liabilities and Contract Assets (pg. 1.7-24)
Demo 7-6A: Recognition of Revenue at a Point in Time (pg. 1.7-25)
Demo 7-6B: Recognition of Revenue Over Time (pg. 1.7-27)
Demo 7-6C: Recognition of License Revenue (pg. 1.7-30)
Review 7-6: Revenue Recognition (pg. 1.7-31)
LO 7-7: Recognize revenue after a contract modification (pg. 1.7-32)
Demo 7-7: Revenue Recognition with a Contract Modification (pg. 1.7-33)
Review 7-7: Contract Modification (pg. 1.7-34)
LO 7-8: Recognize revenue in more complex revenue arrangements (pg. 1.7-34)
Bill-and-Hold Arrangement (pg. 1.7-34)
Demo 7-8A: Transfer of Control under a Bill-and-Hold Arrangement (pg. 1.7-35)
Demo 7-8B: Transfer of Control under a Consignment Arrangement (pg. 1.7-35)
Repurchase Arrangement (pg. 1.7-36)
Demo 7-8C: Transfer of Control under Repurchase Arrangement (pg. 1.7-37)
Principal/Agent Arrangement (pg. 1.7-38)
Demo 7-8D: Estimating Revenue for Principal and Agent (pg. 1.7-38)
Review 7-8: Complex Revenue Arrangements (pg. 1.7-39)
LO 7-9: Describe accounting for contract costs and disclosure requirements for revenue recognition (pg. 1.7-40)
Contract Costs (pg. 1.7-40)
Demo 7-9: Accounting for and Reporting of Contract Costs (pg. 1.7-41)
Financial Reporting (pg. 1.7-42)
Financial Statement Disclosures (pg. 1.7-42)
Review 7-9: Contract Costs and Revenue Disclosures (pg. 1.7-43)
Management Judgment (pg. 1.7-43)
Step 1: Identify contract(s) with customer (pg. 1.7-44)
Step 2: Identify performance obligation(s) in the contract (pg. 1.7-44)
Step 3: Determine the transaction price (pg. 1.7-44)
Step 4: Allocate transaction price to performance obligation(s) (pg. 1.7-44)
Step 5: Recognize revenue when (or as) each performance obligation is satisfied through a transfer (pg. 1.7-44)
APPENDIX 7A: Apply the revenue recognition process to long-term contracts expected to be profitabl (pg. 1.7-45)
Revenue Recognized Over Time (pg. 1.7-45)
Revenue Recognized at a Point in Time (pg. 1.7-45)
Demo 7-10A: Long-Term Contract: Revenue Recognized Over Time—Cost-to-Cost Basis (pg. 1.7-46)
Demo 7-10B: Long-Term Contract: Revenue Recognized at a Point in Time (pg. 1.7-48)
Review 7-10: Long-Term Profitable Construction Project (pg. 1.7-49)
APPENDIX 7B: Apply the revenue recognition process to long-term contracts expected to be unprofitab (pg. 1.7-49)
Demo 7-11A: Overall Loss on an Unprofitable Contract (pg. 1.7-49)
Demo 7-11B: Current Period Loss on Overall Profitable Contract (pg. 1.7-51)
Review 7-11: Unprofitable Construction Project (pg. 1.7-52)
Questions (pg. 1.7-52)
Data Analysis (pg. 1.7-53)
Data Visualization (pg. 1.7-55)
Brief Exercises (pg. 1.7-55)
Exercises (pg. 1.7-59)
Problems (pg. 1.7-68)
Accounting Decisions and Judgments (pg. 1.7-71)
Appendices-Questions (pg. 1.7-73)
Appendices-Brief Exercises (pg. 1.7-73)
Appendices-Exercises (pg. 1.7-74)
Appendices-Problems (pg. 1.7-75)
Answers to Review Exercises (pg. 1.7-77)
Chapter 14: Investments in Debt and Equity Securities (pg. 1.14-1)
Expanded Chapter Preview (pg. 1.14-3)
LO 14-1: Account for debt securities measured at amortized cost (pg. 1.14-4)
Held-to-Maturity Securities (pg. 1.14-4)
Measurement of HTM Securities (pg. 1.14-5)
HTM Investment Purchased at Face Value (pg. 1.14-6)
Demo 14-1A: HTM Investment Purchased at Face Value (pg. 1.14-6)
HTM Investment Purchased at a Discount-Effective Interest Method (pg. 1.14-6)
Demo 14-1B: HTM Investment Purchased at a Discount (Effective Interest) (pg. 1.14-7)
HTM Investment Purchased at a Premium-Effective Interest Method (pg. 1.14-8)
Demo 14-1C: HTM Investment Purchased at a Premium (Effective Interest) (pg. 1.14-8)
HTM Investment-Straight-Line Interest Method (pg. 1.14-10)
Demo 14-1D: HTM Investment Purchased at a Discount (Straight-Line Interest) (pg. 1.14-10)
Demo 14-1E: HTM Investment Purchased at a Premium (Straight-Line Interest) (pg. 1.14-11)
Review 14-1: HTM Debt Investments at Amortized Cost (pg. 1.14-12)
LO 14-2: Account for debt securities measured at FV‑NI (pg. 1.14-12)
Trading Securities (pg. 1.14-12)
Demo 14-2A: Trading Securities Investment (pg. 1.14-13)
Demo 14-2B: Fair Value Option Accounting—Debt Security (pg. 1.14-16)
Review 14-2: Accounting for TS Debt Investment at FV‑NI (pg. 1.14-16)
LO 14-3: Account for debt securities measured at FV-OCI (pg. 1.14-17)
Available-for-Sale Securities (pg. 1.14-17)
Demo 14-3A: Available-for-Sale Securities—Bonds (pg. 1.14-18)
Demo 14-3B: Portfolio of Available-for-Sale Securities—Bonds (pg. 1.14-21)
Review 14-3: Accounting for AFS Debt Investment at FV-OCI (pg. 1.14-23)
Review of Accounting for Debt Securities (pg. 1.14-24)
Impact Investments (pg. 1.14-25)
LO 14-4: Account for equity securities measured at FV‑NI (pg. 1.14-25)
Demo 14-4: Equity Investments Measured at FV‑NI (pg. 1.14-26)
Review 14-4: Accounting for Investments Measured at FV‑NI (pg. 1.14-29)
LO 14-5: Account for equity securities following the equity method (pg. 1.14-29)
Demo 14-5: Equity Method Accounting (pg. 1.14-31)
Review 14-5: Investment in Common Stock under the Equity Method (pg. 1.14-33)
Review of Accounting for Equity Securities (pg. 1.14-33)
LO 14-6: Adjust debt and equity securities for impairment (pg. 1.14-34)
Held-to-Maturity Debt Investment (pg. 1.14-34)
Available-for-Sale Debt Investment (pg. 1.14-34)
Equity Method Investment (pg. 1.14-35)
Demo 14-6: Loss on Impairment of Investments (pg. 1.14-36)
Review 14-6: Accounting for Impairment Loss on AFS Investments (pg. 1.14-37)
Management Judgment (pg. 1.14-37)
Classification of Debt Securities (pg. 1.14-37)
Classification of Equity Securities (pg. 1.14-37)
Estimating Fair Value (pg. 1.14-38)
Impairment of Certain Securities (pg. 1.14-38)
APPENDIX 14A: Explain the accounting for transfers of investments (pg. 1.14-38)
Demo 14-7: Accounting for Transfer of Investment (pg. 1.14-39)
Review 14-7: Accounting for Transfer of Investment (pg. 1.14-39)
APPENDIX 14B: Describe accounting for special-purpose funds and investments in life insurance polic (pg. 1.14-40)
Special-Purpose Fund (pg. 1.14-40)
Investment in Life Insurance Policies (pg. 1.14-40)
Demo 14-8: Accounting for Other Investments (pg. 1.14-40)
Review 14-8: Accounting for Other Investments (pg. 1.14-41)
APPENDIX 14C: Describe and account for derivatives (pg. 1.14-42)
Speculative Derivative Instrument-Call Option on Stock (pg. 1.14-42)
Demo 14-9A: Call Option as a Speculative Investment— Underlying Is Fair Value of Stock (pg. 1.14-43)
Hedging Derivative Instrument-Put Option as a Fair Value Hedge (pg. 1.14-44)
Demo 14-9B: Put Option as a Fair Value Hedge—Underlying Is an Asset (pg. 1.14-45)
Hedging Derivative Instrument-Interest Rate Swap as a Fair Value Hedge (pg. 1.14-46)
Demo 14-9C: Interest Rate Swap as a Fair Value Hedge—Underlying Is a Liability (pg. 1.14-47)
Hedging Derivative Instrument-Cash Flow Hedge (pg. 1.14-48)
Demo 14-9D: Futures Contract as a Cash Flow Hedge—Underlying Is the Market Price of a Purchase (pg. 1.14-49)
Summary of Derivative Instruments (pg. 1.14-50)
Review 14-9: Accounting for Derivatives (pg. 1.14-51)
Questions (pg. 1.14-52)
Data Analytics (pg. 1.14-53)
Data Visualization (pg. 1.14-53)
Brief Exercises (pg. 1.14-53)
Exercises (pg. 1.14-57)
Problems (pg. 1.14-66)
Accounting Decisions and Judgments (pg. 1.14-73)
Appendices-Brief Exercises (pg. 1.14-79)
Appendices-Exercises (pg. 1.14-80)
Appendices-Problems (pg. 1.14-82)
Answers to Review Exercises (pg. 1.14-83)
Chapter 17: Accounting for Leases (pg. 1.17-1)
LO 17-1: Identify a lease, determine lease types for lessee, and classify leases using lease criteri (pg. 1.17-3)
Determining Whether a Contract Contains a Lease (pg. 1.17-3)
Lease Classification Criteria (pg. 1.17-5)
Lease Classification (pg. 1.17-7)
Demo 17-1: Analysis of Lease Classification Criteria (pg. 1.17-7)
Review 17-1: Determine Lease Classification (pg. 1.17-8)
LO 17-2: Account for a basic finance lease for a lessee (pg. 1.17-9)
Overview (pg. 1.17-9)
Lease Liability (pg. 1.17-9)
Right-of-Use-Asset (pg. 1.17-9)
Demo 17-2: Lessee—Basic Finance Lease (pg. 1.17-10)
Review 17-2: Accounting for a Basic Finance Lease by a Lessee (pg. 1.17-13)
LO 17-3: Account for a basic operating lease for a lessee (pg. 1.17-13)
Straight-Line Lease Expense (pg. 1.17-13)
Demo 17-3: Lessee—Basic Operating Lease (pg. 1.17-14)
Review 17-3: Accounting for a Basic Operating Lease by a Lessee (pg. 1.17-17)
LO 17-4: Account for complex finance leases for a lessee (pg. 1.17-17)
Lease Classification Criterion No. 4 Revisited (pg. 1.17-17)
Accounting for a Complex Finance Lease (pg. 1.17-19)
Demo 17-4A: Lessee—Finance Lease with Initial Direct Cost, Lease Incentive (pg. 1.17-21)
Demo 17-4B: Lessee—Finance Lease with Guaranteed Residual Value (pg. 1.17-25)
Demo 17-4C: Lessee—Finance Lease with Purchase Option Expected to Exercise (pg. 1.17-28)
Review 17-4: Finance Lease by Lessee with a Guaranteed Residual Value (pg. 1.17-29)
LO 17-5: Account for Complex Operating Leases for a Lessee (pg. 1.17-30)
Demo 17-5: Lessee—Operating Lease with Initial Direct Cost, Incentive, Prepayment (pg. 1.17-30)
Income Statement Presentation-Operating Lease versus Finance Lease (pg. 1.17-34)
Review 17-5: Operating Lease by Lessee with Renewal Option and Initial Direct Costs (pg. 1.17-35)
LO 17-6: Determine lease type and account for a basic sales-type lease for a lessor (pg. 1.17-35)
Lessor Accounting (pg. 1.17-35)
Lessor Lease Classification (pg. 1.17-35)
Accounting for a Basic Sales-Type Lease (pg. 1.17-36)
Demo 17-6: Lessor—Basic Sales-Type Lease (pg. 1.17-36)
Review 17-6: Accounting for a Basic Sales-Type Lease for a Lessor (pg. 1.17-39)
LO 17-7: Account for an operating lease for a lessor (pg. 1.17-40)
Lessor: Operating Lease (pg. 1.17-40)
Demo 17-7: Lessor—Operating Lease with Initial Direct Cost (pg. 1.17-40)
Review 17-7: Operating Lease by Lessor with Initial Direct Costs (pg. 1.17-43)
LO 17-8: Account for complex sales-type leases for a lessor (pg. 1.17-43)
Lessor: Sales-Type Lease (pg. 1.17-43)
Calculation of Lease Payment (pg. 1.17-43)
Initial Direct Costs (pg. 1.17-43)
Demo 17-8A: Lessor—Sales-Type Lease with Initial Direct Costs (pg. 1.17-44)
Demo 17-8B: Lessor—Sales-Type Lease with a Guaranteed Residual Value (pg. 1.17-44)
Review 17-8: Sales-Type Lease by Lessor with a Guaranteed Residual Value (pg. 1.17-48)
LO 17-9: Explain the accounting policy election for short-term leases and other lease disclosures (pg. 1.17-48)
Short-Term Leases (pg. 1.17-48)
Demo 17-9: Short-Term Leases (pg. 1.17-49)
Financial Statement Reporting of Leases (pg. 1.17-49)
Review 17-9: Accounting for a Short-Term Lease (pg. 1.17-51)
Management Judgment (pg. 1.17-51)
Identifying a Lease (pg. 1.17-51)
Classifying a Lease (pg. 1.17-51)
Accounting for a Lease (pg. 1.17-51)
APPENDIX 17A: Account for direct financing leases by the lessor (pg. 1.17-52)
Demo 17-10: Lessor—Direct Financing Lease (pg. 1.17-53)
Review 17-10: Accounting for Direct Financing Leases (pg. 1.17-55)
APPENDIX 17B: Explain lease modifications and lease remeasurements (pg. 1.17-55)
Lease Modifications (pg. 1.17-55)
Additional Cases of Lease Classification Reassessment and Lease Remeasurement (pg. 1.17-56)
Demo 17-11: Lease Modifications and Lease Remeasurements (pg. 1.17-57)
Review 17-11: Lease Modifications and Lease Remeasurements (pg. 1.17-58)
APPENDIX 17C: Explain the accounting for transfers of investments (pg. 1.17-58)
Demo 17-12: Sale-Leaseback and Failed Sale (pg. 1.17-59)
Review 17-12: Accounting for Sale-Leaseback (pg. 1.17-61)
Questions (pg. 1.17-61)
Data Analytics (pg. 1.17-62)
Data Visualization (pg. 1.17-63)
Brief Exercises (pg. 1.17-63)
Exercises (pg. 1.17-68)
Problems (pg. 1.17-76)
Accounting Decisions and Judgments (pg. 1.17-81)
Appendices-Brief Exercises (pg. 1.17-84)
Appendices-Exercises (pg. 1.17-85)
Appendices-Problem (pg. 1.17-86)
Answers to Review Exercises (pg. 1.17-87)
Chapter 18: Income Taxes (pg. 1.18-1)
Expanded Chapter Preview (pg. 1.18-3)
LO 18-1: Describe taxable temporary differences that lead to deferred tax liabilities and related in (pg. 1.18-4)
Demo 18-1: Taxable Temporary Difference Leading to Deferred Tax Liability (pg. 1.18-6)
Review 18-1: Taxable Temporary Difference Leading to Deferred Tax Liability (pg. 1.18-8)
LO 18-2: Describe deductible temporary differences that lead to deferred tax assets and related inco (pg. 1.18-8)
Demo 18-2: Deductible Temporary Differences Leading to a Deferred Tax Asset (pg. 1.18-10)
Review 18-2: Deductible Temporary Difference Leading to Deferred Tax Asset (pg. 1.18-12)
LO 18-3: Explain how to record and report a valuation allowance for deferred tax assets (pg. 1.18-12)
Demo 18-3: Account for Deferred Tax Asset Valuation Allowance (pg. 1.18-14)
Review 18-3: Tax Asset Valuation Allowance (pg. 1.18-15)
LO 18-4: Describe permanent differences and other items that impact the reported effective tax rate (pg. 1.18-15)
Other Items that Impact Effective Tax Rate (pg. 1.18-16)
Demo 18-4A: Permanent Difference (pg. 1.18-16)
Demo 18-4B: Multiple Temporary and Permanent Differences (pg. 1.18-17)
Review 18-4: Multiple Temporary and Permanent Differences (pg. 1.18-21)
LO 18-5: Explain how a change in tax rates impacts deferred taxes (pg. 1.18-21)
Demo 18-5: Change in Enacted Tax Rate (pg. 1.18-22)
Review 18-5: Change in Enacted Tax Rate (pg. 1.18-24)
LO 18-6: Describe accounting for net operating loss carryforwards and loss carryback|carryforwards (pg. 1.18-24)
Net Operating Loss Carryforwards (pg. 1.18-25)
Net Operating Loss Carryback|Carryforward (pg. 1.18-25)
Demo 18-6A: Net Operating Loss Carryforward (pg. 1.18-25)
Demo 18-6B: NOL Carryback|Carryforward (pg. 1.18-26)
Review 18-6: Net Operating Loss Carryforward (pg. 1.18-28)
LO 18-7: Explain and demonstrate accounting for uncertainty in income tax decisions (pg. 1.18-29)
Step One: Recognition (pg. 1.18-29)
Demo 18-7: Uncertain Tax Positions (pg. 1.18-30)
Review 18-7: Unrecognized Tax Benefit (pg. 1.18-32)
LO 18-8: Describe financial statement disclosure for deferred taxes and income tax expense (pg. 1.18-32)
Financial Statement Presentation (pg. 1.18-32)
Disclosure Requirements for Income Tax (pg. 1.18-34)
Demo 18-8: Balance Sheet Classification of Deferred Tax Assets and Liabilities (pg. 1.18-34)
Review 18-8: Financial Statement Presentation of Deferred Taxes (pg. 1.18-35)
Management Judgment (pg. 1.18-35)
Deferred Tax Asset Valuation Allowance (pg. 1.18-35)
Uncertain Tax Position (pg. 1.18-35)
APPENDIX 18A: Apply intraperiod tax allocation (pg. 1.18-36)
Demo 18-9: Intraperiod Tax Allocation (pg. 1.18-36)
Review 18-9: Intraperiod Tax Allocation (pg. 1.18-37)
APPENDIX 18B: Apply tax effects to changes in accounting principle and error corrections (pg. 1.18-37)
Change in Accounting Principle (pg. 1.18-37)
Demo 18-10A: Change in Accounting Principle (pg. 1.18-37)
Error Correction (pg. 1.18-38)
Demo 18-10B: Error Correction (pg. 1.18-38)
Review 18-10: Change in Accounting Principle and Error Correction (pg. 1.18-38)
Questions (pg. 1.18-39)
Data Analytics (pg. 1.18-39)
Data Visualization (pg. 1.18-40)
Brief Exercises (pg. 1.18-40)
Exercises (pg. 1.18-43)
Problems (pg. 1.18-52)
Accounting Decisions and Judgments (pg. 1.18-56)
Appendices-Brief Exercises (pg. 1.18-60)
Appendices-Problems (pg. 1.18-61)
Answers to Review Exercises (pg. 1.18-62)
Skills for Accounting Research, 4e (pg. 2.20)
Chapter 2 The FASB Codification: Introduction and Search Strategies (pg. 2.20)
What is the FASB Codification? (pg. 2.22)
Now [ YOU ] Try 2.1 (pg. 2.23)
What Sources of Guidance Were Used to Populate the Codification? (pg. 2.23)
Now [ YOU ] Try 2.2 (pg. 2.24)
How is the Codification Updated? (pg. 2.24)
Navigating The Codification (pg. 2.24)
How is Information Organized Within the Codification? (pg. 2.25)
Now [ YOU ] Try 2.3 (pg. 2.26)
Areas and Topics (pg. 2.26)
Now [ YOU ] Try 2.4 (pg. 2.27)
Subtopics (pg. 2.28)
Now [ YOU ] Try 2.5 (pg. 2.28)
Sections (pg. 2.28)
Now [ YOU ] Try 2.6 (pg. 2.33)
Subsections and Paragraphs (pg. 2.33)
Now [ YOU ] Try 2.7 (pg. 2.34)
Tips for Performing Browse Searches (pg. 2.35)
Join All Sections (pg. 2.35)
Navigating a Subtopic, Considering All Areas of “Required Reading” (pg. 2.36)
Now [ YOU ] Try 2.8 (pg. 2.38)
Other Search Methods (pg. 2.39)
Keyword Searches (pg. 2.39)
Now [ YOU ] Try 2.9 (pg. 2.42)
Now [ YOU ] Try 2.10 (pg. 2.43)
Search by ASC Reference Number (pg. 2.43)
Cross Reference Tab (pg. 2.44)
Master Glossary (pg. 2.44)
Pending Content and Effective Dates (pg. 2.45)
What is “Pending Content”? (pg. 2.45)
Now [ YOU ] Try 2.11 (pg. 2.45)
Understanding Effective Dates (pg. 2.46)
Now [ YOU ] Try 2.12 (pg. 2.46)
Private Company Accounting Alternatives in the Codification (pg. 2.47)
Now [ YOU ] Try 2.13 (pg. 2.47)
Chapter Summary (pg. 2.47)
Review Questions (pg. 2.47)
Exercises (pg. 2.49)
Case Study Questions (pg. 2.50)
Chapter 3 The Research Process (pg. 2.54)
Why Use A Research Process? (pg. 2.56)
The Accounting Research Process (pg. 2.56)
Pre-Step: Understand the Business (Industry) (pg. 2.57)
Now [ YOU ] Try 3.1 (pg. 2.59)
Step 1: Understand the Facts/Background of the Transaction (pg. 2.59)
Now [ YOU ] Try 3.2 (pg. 2.60)
Step 2: Define the Problem. That Is, Identify the “Researchable Question.” (pg. 2.61)
Now [ YOU ] Try 3.3 (pg. 2.62)
Now [ YOU ] Try 3.4 (pg. 2.62)
Step 3: Stop and Think: What Accounting Treatment Will Likely Be Appropriate? (pg. 2.62)
Step 4: Search Potentially Relevant Sources of Guidance, Copying Any Relevant Guidance into a Word (pg. 2.63)
Now [ YOU ] Try 3.5 (pg. 2.63)
Now [ YOU ] Try 3.6 (pg. 2.64)
Step 5: Analyze Alternatives, Documenting Your Consideration of Each (pg. 2.65)
Now [ YOU ] Try 3.7 (pg. 2.65)
Step 6: Justify and Document Your Conclusion (pg. 2.67)
Now [ YOU ] Try 3.8 (pg. 2.67)
Judgment And Decision Making-A Brief Introduction (pg. 2.67)
Common Biases (pg. 2.68)
Now [ YOU ] Try 3.9 (pg. 2.69)
Learn from Your Mistakes (and Successes!) (pg. 2.70)
Now [ YOU ] Try 3.10 (pg. 2.70)
Chapter Summary (pg. 2.70)
Review Questions (pg. 2.71)
Exercises (pg. 2.71)
Case Study Questions (pg. 2.73)
Additional References (pg. 2.75)
Chapter 6 Scope and Recognition Guidance: A Brief Introduction (pg. 2.146)
Scope Guidance: An Area Of Required Reading (pg. 2.148)
Applying Scope Guidance: A Few Examples (pg. 2.149)
Considering Scope, Glossary, and Interpretive Guidance (pg. 2.149)
Now [ YOU ] Try 6.1 (pg. 2.149)
Now [ YOU ] Try 6.2 (pg. 2.151)
Evaluating Subsections with Unique Scope Guidance: Nonmonetary Transactions (pg. 2.151)
Now [ YOU ] Try 6.3 (pg. 2.152)
Which Topic Applies?: Navigating Investments Topics (pg. 2.154)
Now [ YOU ] Try 6.4 (pg. 2.155)
Performing A Scope Test: Derivatives (pg. 2.156)
Evaluating Whether an Instrument Meets the Definition of a Derivative (pg. 2.156)
Now [ YOU ] Try 6.5 (pg. 2.156)
Recognition Guidance: A Brief Introduction (pg. 2.159)
Now [ YOU ] Try 6.6 (pg. 2.160)
Revenue Recognition: Navigating The REVISED MODEL (pg. 2.161)
Now [ YOU ] Try 6.7 (pg. 2.161)
Conceptual Definitions of Revenue (pg. 2.161)
Revised Model: Revenue from Contracts with Customers (ASC 606) (pg. 2.162)
Now [ YOU ] Try 6.8 (pg. 2.163)
Research Techniques for Navigating Revenue Guidance (pg. 2.163)
Now [ YOU ] Try 6.9 (pg. 2.166)
Now [ YOU ] Try 6.10 (pg. 2.167)
Now [ YOU ] Try 6.11 (pg. 2.167)
Now [ YOU ] Try 6.12 (pg. 2.168)
Now [ YOU ] Try 6.13 (pg. 2.169)
Now [ YOU ] Try 6.14 (pg. 2.170)
Applying Different Recognition Thresholds (pg. 2.171)
Uncertain Taxes: Recognize If More Likely Than Not (pg. 2.171)
Now [ YOU ] Try 6.15 (pg. 2.171)
Effective Settlement of a Tax Position (pg. 2.172)
Now [ YOU ] Try 6.16 (pg. 2.172)
Subsequent Events: Recognize If Conditions Existed at the Balance Sheet Date (pg. 2.174)
Now [ YOU ] Try 6.17 (pg. 2.175)
Applying Derecognition Guidance: Liability Extinguishments (pg. 2.176)
Now [ YOU ] Try 6.18 (pg. 2.177)
Now [ YOU ] Try 6.19 (pg. 2.178)
Chapter Summary (pg. 2.179)
Review Questions (pg. 2.179)
Exercises (pg. 2.180)
Case Study Questions (pg. 2.181)
Chapter 7 Using the Codification to Research Measurement Issues (pg. 2.184)
What is Accounting Measurement? (pg. 2.186)
Overview and Conceptual Background (pg. 2.186)
Measurement Attributes (pg. 2.186)
Now [ YOU ] Try 7.1 (pg. 2.187)
Now [ YOU ] Try 7.2 (pg. 2.187)
Where Can I Find Measurement Guidance? (pg. 2.188)
Now [ YOU ] Try 7.3 (pg. 2.189)
Who Performs Accounting Measurement In Practice? (pg. 2.190)
Initial Measurements (pg. 2.190)
Overview (pg. 2.190)
Applying Initial Measurement Guidance (pg. 2.191)
Now [ YOU ] Try 7.4 (pg. 2.192)
Now [ YOU ] Try 7.5 (pg. 2.194)
Subsequent Measurements (pg. 2.197)
Overview (pg. 2.197)
Applying Subsequent Measurement Guidance (pg. 2.197)
Now [ YOU ] Try 7.6 (pg. 2.198)
Now [ YOU ] Try 7.7 (pg. 2.201)
Now [ YOU ] Try 7.8 (pg. 2.202)
Disclosure Should Accompany Key Measurement Judgments (pg. 2.203)
Chapter Summary (pg. 2.203)
Review Questions (pg. 2.203)
Exercises (pg. 2.204)
Case Study Questions (pg. 2.205)
Michelle L. Hanlon

Michelle L. Hanlon

Michelle L. Hanlon is the Howard W. Johnson Professor at the MIT Sloan School of Management. She earned her doctorate at the University of Washington.

Prior to joining MIT, she was a faculty member at the University of Michigan. Professor Hanlon has taught financial accounting to undergraduates, MBA students, executive MBA students, and Masters of Finance students. Professor Hanlon also teaches Taxes and Business Strategy to MBA students. She is the winner of the 2013 Jamieson Prize for Excellence in Teaching at MIT Sloan.

Professor Hanlon’s research focuses primarily on the intersection of taxation and financial accounting. Her recent work examines the capital market effects of the accounting for income tax, the reputational effects of corporate tax avoidance, and the economic consequences of U.S. international tax policies for multinational corporations. She has published research studies in the Journal of Accounting and Economics, the Journal of Accounting Research, The Accounting Review, the Review of Accounting Studies, the Journal of Finance, the Journal of Financial Economics, the Journal of Public Economics, and others. She has won several awards for her research and has presented her work at numerous universities and conferences. Professor Hanlon has served on several editorial boards and currently serves as an editor at the Journal of Accounting and Economics. 

Professor Hanlon has testified in front of the U.S. Senate Committee on Finance and the U.S. House of Representatives Committee on Ways and Means about the interaction of financial accounting and tax policy. She served as a U.S. delegate to the American-Swiss Young Leaders Conference in 2010 and worked as an Academic Fellow at the U.S. House Ways and Means Committee in 2015.


Shelby Collins

Shelby Collins

Shelby Collins currently works as a consultant assisting companies with adoption of the new FASB revenue and lease accounting standards. Prior to this role, she taught the Masters-level accounting and auditing research course at the University at Buffalo School of Management from 2011 through 2016.

Shelby’s entire career has focused specifically on performing and communicating technical accounting research, in a diversity of settings. Immediately after receiving her Bachelors’ and Masters’ degrees in Accountancy from the University of Georgia, Shelby went on to serve as a postgraduate technical assistant at the Financial Accounting Standards Board (FASB). From there, Shelby went on to work in KPMG’s Accounting Advisory Services group, then in the Accounting Policy and Research group at Exelon Corporation in Chicago. In these roles, Shelby focused on the application of technical accounting guidance to complex and judgmental transactions.

While at the University at Buffalo, finding no textbook on the market that offered a hands-on, active learning approach to accounting research, she chose to create her own course materials including handouts, lecture slides, and case studies. Many of these materials have been incorporated into this book and its supplements.

Few professionals have the opportunity to hit the ground running with a career in research; accountants often get their first shot at higher-level research projects after several years on the job. Shelby's career is unique in that she started researching before she even had the depth of knowledge afforded by several years of experience. She quickly achieved that depth of knowledge through her work as a researcher. She therefore understands how to convey complex accounting concepts alongside the basic skills necessary for success in research, in a language that beginning researchers can understand. Her enthusiasm for teaching will serve as an asset to students utilizing this book.

Intermediate Accounting, 3e (Hanlon, Hodder, Nelson, Roulstone, Dragoo)
Errata
Last Updated: Mar 7 2024

Identified errors in (complete) printed text and instructor edition, corrected.

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Skills for Accounting Research, 4e - FASB Codification & eIFRS (Collins, Salzman)
Errata
Last Updated: Feb 28 2020

Corrections to identified errors in text