ACC 423 Signature Presentation: Codification Research Paper
My client, Cascade Company, is making plans to invest in some of its excess cash in 5 years revenue bonds issued by the country and in the stock of one of its suppliers, Teton’s share trade on the over-the country market. I have been asked by my client to do some research on accounting for these investments. Since Trenton shares do not trade on one of the large stock markets, Cascade argues that the fair value is not readily available. In this paper I will discuss and identify the following: (1) when fair value is “readily determinable”, (2) how impairment of……..