Discussion:FASb 157
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(Difference between revisions)
| Revision as of 06:51, 5 November 2009 Natalie (Talk | contribs) (Two pages for mo) ← Previous diff |
Revision as of 15:51, 5 November 2009 Captcook (Talk | contribs) (I agree with Nat) Next diff → |
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| {{ForumReplyPost|UserID=Natalie|Date=November 5, 2009|Text=Two pages for money market accounts? They must be complicated. It seems like a sweep account would be level 1 and disclosure requirements could be met with a short sentence.}} | {{ForumReplyPost|UserID=Natalie|Date=November 5, 2009|Text=Two pages for money market accounts? They must be complicated. It seems like a sweep account would be level 1 and disclosure requirements could be met with a short sentence.}} | ||
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| + | {{ForumReplyPost|UserID=Captcook|Date=5 November 2009|Text=I agree with Natalie. This is what we do. Sounds like severe overkill to describe all three levels if the items in the statement are all level 1. }} | ||
Revision as of 15:51, 5 November 2009
Discussion Forum Index --> Accounting Questions --> FASb 157
| 4 November 2009 | |
| Client has a sweep cash account. Do I need to have a FASB 157 footnote in an audit report?
I have seen another CPA firm have a 2 page disclosure where their client has money market accounts. Disclosure is about the three levels and where the money markets fall into those levels. Thanks. | |
| November 5, 2009 | |
| Two pages for money market accounts? They must be complicated. It seems like a sweep account would be level 1 and disclosure requirements could be met with a short sentence. | |
| 5 November 2009 | |
| I agree with Natalie. This is what we do. Sounds like severe overkill to describe all three levels if the items in the statement are all level 1. | |
