Question

Obtain the relevant authoritative literature on accounting for accounts receivable using the FASB’s Codification Research System at the FASB website (www.fasb.org). What is the specific citation that describes the information about loans and trade receivables that is to be disclosed in the summary of significant accounting policies?

Requirement	Topic	Subtopic	Section	Paragraph
1

Answer 1

Solution:-

Obtain the relevant authoritative literature on accounting for accounts receivable using the FASB’s Codification Research System at the FASB website (www.fasb.org). What is the specific citation that describes the information about loans and trade receivables that is to be disclosed in the summary of significant accounting policies:-

The specific ciation that specifies these disclosure policies is FASB ACS 310-10-50-9: "Receivables - Overall Disclosure - Accounting policies for credit losses and doubtful accounts."