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Simple English definitions for legal terms

FASB statement

Read a random definition: servitii praestatio

A quick definition of FASB statement:

A FASB statement is a rule made by a group called the Financial Accounting Standards Board. This rule tells people how to do their accounting in a way that is acceptable. It's like a teacher telling you how to do your homework correctly.

A more thorough explanation:

A FASB statement is an official announcement made by the Financial Accounting Standards Board that establishes a specific financial accounting practice as acceptable.

For example, FASB Statement No. 13 establishes the accounting standards for leases. It outlines how companies should account for leases in their financial statements.

Another example is FASB Statement No. 116, which establishes the accounting standards for contributions received and made by non-profit organizations. It outlines how non-profit organizations should account for contributions in their financial statements.

These examples illustrate how FASB statements provide guidance and establish standards for financial accounting practices.

FASB | fast estate

General

General chat about the legal profession.

General >T14 Off Topic

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llama

9:31

some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173

llama

9:32

[kevin oleary]

jackfrost11770

9:33

worthless i trust you implicitly you know what it will happen now.

jackfrost11770

9:33

worthless i trust you implicitly you know what it will happen now.

jackfrost11770

9:33

worthless i trust you implicitly you know what it will happen now.

jackfrost11770

9:33

worthless i trust you implicitly you know what it will happen now.

jackfrost11770

9:33

worthless i trust you implicitly you know what it will happen now.

WorthlessAttractiveZombie

9:34

I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)

jackfrost11770

9:35

IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES

jackfrost11770

9:35

HELLO

WorthlessAttractiveZombie

9:35

it sent a million times lol

jackfrost11770

9:35

WHAT HAPPENED

TheAdoptedOne

9:35

yeah i thought you were tweaking for a second

jackfrost11770

9:35

i'm so sorry everyone what the actual fuck this website hates me

WorthlessAttractiveZombie

9:35

Jack's just tweaking on LSD no biggie

jackfrost11770

9:36

to be fair this accurately represents my mental state

KnowledgeableRitzyWasp

9:37

election day psychosis coming in hot (fordham)

jackfrost11770

9:38

usc pls pull through .....

jackfrost11770

9:38

i literally just need one A so i can relax before my ED decision

WorthlessAttractiveZombie

9:38

oh that's right USC might release

soapy

9:43

USC still has not looked at my app

WorthlessAttractiveZombie

9:43

when did you submit soapy?

soapy

9:44

10/16

WorthlessAttractiveZombie

9:44

to be fair it took them almost 2 months for me to go under review

soapy

9:44

Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7

WorthlessAttractiveZombie

9:45

I have not had a date change either for Mich but I've seen people get in without one so who knows

TheAdoptedOne

9:46

I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw

soapy

9:46

But do people get in without addresses going long?

WorthlessAttractiveZombie

9:46

it's tough to tell because a lot of people type out their addresses long to begin with

soapy

9:46

Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that

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