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Describe the purpose and scope of fas 161

Researching a Fortune 500 Company.

There are several financial research databases that provide access to data on public companies' financials.

Using an online database, research a Fortune 500 company applying FAS161.

(1) Describe the purpose and scope of FAS 161

(2) Describe the company and their need for using FAS 161.

(3) How would the firm outline the basis for accounting decisions with respect to FAS 161?

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Finance Basics: Describe the purpose and scope of fas 161

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