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FASB Statements 109-118

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The following questions pertain to Statements of Financial Accounting Standards (SFAS), which have been issued by the Financial Accounting Standards Board (FASB). You can read the FASB's official pronouncements at no cost on its website www.FASB.org.


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 1. Statement of Financial Accounting Standards No. 109 (SFAS 109) pertains to the accounting for _________ taxes. NICMOE INCOME
 2. SFAS 110 amends SFAS 35 for the reporting of investment _____________ by defined benefit pension plans. TROSTACCN CONTRACTS
 3. SFAS 111 is entitled ________________ of FASB Statement No. 32 and Technical Corrections. ISNCSSERIOS RESCISSIONS
 4. SFAS 112 amends SFAS 5 and SFAS 43 regarding _______________________ benefits. PTLMYONEETOSMP POSTEMPLOYMENT
 5. SFAS 113 is entitled Accounting and Reporting for ____________________ of Short-Duration and Long-Duration Contracts. UNARSCERNEI REINSURANCE
 6. SFAS 114 amends the accounting by _____________ for impairment of a loan. TRICSODER CREDITORS
 7. SFAS 115 is entitled Accounting for Certain Investments in Debt and ________ Securities. UTIQYE EQUITY
 8. SFAS 116 provides guidance for accounting for ___________________ received and made. RUNIINOBSTTCO CONTRIBUTIONS
 9. SFAS 117 is entitled Financial ______________ of Not-for-Profit Organizations. NETATETSSM STATEMENTS
10. SFAS 118 amends SFAS 114 in the area of creditors' recognition and ________________ for impairment of a loan. SUCELSISROD DISCLOSURES



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