Category: U.S. GAAP by Topic

Capitalization of interest SFAS 34, October 1979 “Capitalization of Interest” Qualifying assets for interest capitalization 1. Assets that are constructed or produced –> for the

Interest related topics 835-20: Capitalization of interest For certain qualifying assets, interest costs are capitalized –> and included in determining the acquisition cost of asset

Foreign Currency Translation SFAS 52, December 1981 “Foreign Currency Translation” Translation of foreign currency financial statements 1. All items of financial statements are translated –>

Foreign Currency Transactions SFAS 52, December 1981 “Foreign Currency Translation” Foreign currency transactions Foreign currency transaction –> transactions denominated in the currency other than functional

Foreign Currency Transactions and Translation SFAS 52, December 1981 “Foreign Currency Translation” Functional currency 1. Functional currency –> the currency of the primary economic environment

Fair Value Option SFAS No. 159, February 2007 ” The Fair Value Option for Financial Assets and Financial Liabilities” Fair Value Option(FVO) –> Option to