[Anonymous]

When you get a FAR research question that asks – how should you account for something in this specific industry – then you conduct your search and get that you should account for it as any other industry.

Would it be correct cite:

– Where it says that this specific industry accounts for it as any regular industry? Or

– Should I just cite the general FASB

[Anonymous]

I would think that if the research question on the exam is asking about how a specific industry reports something, then its because there is special treatment.

If it is treated the same as all other entities, you could just cite the appropriate ASC. Usually within the ASC it says something like “applicable to all entities exempt as stated in referenceXX.X” So that would still be the correct answer, even if in the question it asks for a specific industry that does not actually have special treatment.

[Author]

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