Final answer:
The specific Codification citation for the disclosure of reasonably possible contingent losses is found in the FASB ASC Topic 450, specifically under a subsection related to contingent liabilities.
Step-by-step explanation:
The specific eight- or nine-digit Codification citation that describes if a contingent loss should be disclosed when it is only reasonably possible is most likely found within the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). In particular, the guidance for accounting for contingencies can be found under ASC Topic 450, usually in the range of ASC 450-20-25.
However, without the exact reference provided in this context, the eight- or nine-digit citation would be specific to the subsection within ASC 450 that pertains to disclosure of contingent liabilities that are considered reasonably possible. It should be noted that the details such as 'author', 'publisher', 'location' among others, relate to the citation format for referencing documents and sources, not specifically related to the codification citation.
Full in-text citations should list the organization, year, and the specific sections referenced. For the PCAOB Auditing Standards, numbers refer to chapter and paragraphs. For the FASB Accounting Standards Codification, the numbers refer to area, topic, subtopic, and section.
According to the Public Company Accounting Oversight Board (PCAOB), auditors cannot act as lawyers, despite having knowledge of commercial law (2016, 1001.04).
A vendor can list a consideration on their income statement as a cost, if the customer provided assets or services (Financial Accounting Standards Board [FASB], 2009, 605-50-45-1).