Beginner

Subsequent Events: Type I vs. Type II

Distinguishes between events that require adjustment and those that only require disclosure.

Evaluate the following event that occurred on {event_date} (after the balance sheet date but before issuance): {event_description}. Determine if it is a Type I (Recognized) or Type II (Non-recognized) subsequent event under ASC 855. Draft the required financial statement footnote disclosure.

Related Prompts

Financial Accounting
Beginner

Month-End Close Checklist Generator

Generates a comprehensive month-end close checklist tailored to your company type and size.

ChatGPT-4oClaude Sonnet 4.5Gemini 2.5 Pro
1
1
6
Financial Accounting
Advanced

ASC 606 contract intake: performance obligations & allocation

Analyzes a customer contract under ASC 606/IFRS 15: identifies performance obligations, determines transaction price, and allocates consideration. Produces a concise memo and a revenue schedule outline.

GPT-5.2 Thinking; GPT-4.1; o3-mini
0
0
3
Financial Accounting
Advanced

IFRS 15 variable consideration constraint assessment

Evaluates variable consideration and the constraint, documenting probability-weighted outcomes and recognition impacts. Helps controllers defend judgments and build consistent templates across contracts.

GPT-5.2 Thinking; GPT-4.1; o3-mini
0
0
4