Equity or Liabilities ? SFAS No. 150, May 2003 “Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity” FASB Staff Position FAS
Tag: asc
Gain contingency –> a gain will incur if certain future events occur or not occur Recognition of a gain contingency –> a gain contingency is
Loss contingency –> a loss will incur if certain future events occur or not occur Recognition of a loss contingency 1. Recognized in the financial
Contingencies 1. Gain contingency –> a gain will incur if certain future events occur or not occur 2. Loss contingency –> a loss will incur
Exit or Disposal Cost Obligations SFAS 146, June 2002 “Accounting for Costs Associated with Exit or Disposal Activities” Exit or disposal cost obligations 1. Costs
Asset Retirement Obligations SFAS 143, June 2001 “Accounting for Asset Retirement Obligations” AICPA SOP 96-1 “Environmental Remediation Liabilities” Asset retirement obligation –> an obligation related