Easily Hide Advanced Field in the Accounting Contract

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How to Hide Advanced Field in the Accounting Contract

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[Music] this is sarah cage and im joined again by my co-host adam olson embarks national quality leader joining us in the studio today is one of embarks resident lease accounting specialists mr ty cotter ty brings his experience in implementing asc 842 over the last couple years including navigating through the guidance related to todays topic embedded leases with private companies required to adopt the new leasing guidance in 2022 we know that todays discussion will be meaningful as they begin to identify all their leases for those who may have already adopted the guidance it will be a good refresher of key considerations to keep in mind and i have plenty of questions to go around for both adam and ty so lets jump in adam i think before we dive into embedded leases it would be helpful for our listeners to get a definition of exactly what is a lease under u.s gaap sure so i think maybe one way to look at it is it helps set the stage of what you know the definition of elise was or

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What are standard fields in Salesforce objects?

Identity, system, and name fields are standard on every object in Salesforce. Each standard object also comes with a set of prebuilt, standard fields. You can customize standard objects by adding custom fields, and you can add custom fields to your custom objects. Every field has a data type.

Under what circumstances must a company account for a contract modification as a new contract?

A company accounts for a contract modification as a new contract if both of the following conditions are satisfied: The promised goods or services are district (i.e., the company sells them separately and they are not interdependent with other goods and services), and.

What is the purpose of the account type field?

An account field is a property associated with an account which can be populated. For example, account type, billing address, business phone, and so on. You may define any additional custom fields that you require to track accounts.

What are the standard fields in Salesforce account object?

Identity, system, and name fields are standard on every object in Salesforce.

What are the standard field types in Salesforce?

However, Salesforce recommends that you use the 18-character ID. JunctionIdList Field Type. Multi-Select Picklist Field Type. Percent Field Type. Phone Field Type. Picklist Field Type. Reference Field Type. Textarea Field Type. URL Field Type.

What are the fields in account in Salesforce?

Required Editions FieldDescriptionAccount NameThe account that the contact is linked to. Enter the account name, select the account from a list, or create an account.Account NumberTracking or reference number for the account. The maximum is 40 characters.Account OwnerThe assigned owner of the account.67 more rows

What are Salesforce standard account objects?

Salesforce Account Objects signify an individual or an enterprise to which the Salesforce platform provides its services. These are standard in Salesforce and can store all the relevant information related to the enterprise e.g., Market Segmentation, Competition, Customer Base, etc.

How do you account for contract modifications?

A contract modification that only affects the transaction price is either accounted for prospectively or on a cumulative catch-up basis. It is accounted for prospectively if the remaining goods or services are distinct. There is a cumulative catch-up if the remaining goods or services are not distinct.

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