Tag Archives: ASU

List of updates to the codification topic 820

List of updates to the codification topic 820

January 2010
Accounting Standards Update (ASU) No. 2010-06 was issued
–> Improving disclosures about fair value measurements
–> Codification topic 820-10
–> added new disclosure requirements and clarified other disclosures

List of updates to topic 820
820 Fair value measurements and disclosures

820-10_65-1: FSP FAS 157-2
–> Effective date of SFAS 157
–> effective for FYs beginning on or after November 15, 2008

820-10_65-2: FSP FAS 157-3
–> Determining the fair value of a financial asset when the market for that asset is not active
–> effective for FYs beginning on or after October 10, 2008

820-10_65-3: EITF 08-5
–> Issuer’s accounting for liabilities measured at fair value with a third-party credit enhancement
–> effective for FYs beginning on or after December 15, 2008

820-10_65-4: FSP FAS 157-4
–> Determining fair value when the volume and level of activity for the asset or liability have significantly decreased and identifying transactions that are not orderly
–> effective for FYs beginning on or after June 15, 2009

820-10_65-5: ASU 2009-05
–> Measuring liabilities under topic 820
–> issued in August 2009
–> effective for the first interim and annual reporting periods after issuance

820-10_65-6: ASU 2009-12
–> Investments in certain entities that calculate net asset value per share (or its equivalent)
–> effective for the first interim and annual reporting periods ending after December 15, 2009

820-10_65-7: ASU 2010-06
–> Improving disclosures about fair value measurements
–> effective for interim and annual periods beginning after December 15, 2009
–> 820-10_50-2(c)(2) effective for FYs beginning after December 15, 2010, including interim periods

 

© AccountingInfo.com

 

Extraordinary and Unusual Items, ASU 2015-01

FASB issued an Accounting Standards Update, ASU 2015-01, in January 2015

Topic: Income Statement – Extraordinary and Unusual Items (asc 225-20)

  • The concept of extraordinary items was eliminated.
  • Unusual or infrequently occurring items are
    • presented as a separate component of income from continuing operations¬†or
    • disclosed in the notes to financial statements

 

© AccountingInfo.com