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U.S. GAAP Codification Accounting Standards, ASC




U.S. GAAP
Financial Accounting Review


Principles of AccountingAccounting by Topic Accounting Terms Dictionary

Section 9200: Consolidated Financial Statements

[U.S. GAAP Codification Topic]
810 Consolidation
810-10 Overall
810-20 Control of partnerships and similar entities
810-30 Research and development arrangements

[U.S. GAAP before the Codification]
ARB 51, August 1959, Consolidated Financial Statements
SFAS 94, October 1987, Consolidation of All Majority-owned Subsidiaries, an amendment of ARB No. 51, with related amendments of APB Opinion No. 18 and ARB No. 43, Chapter 12
SFAS 160, December 2007, Noncontrolling Interests in Consolidated Financial Statements, an amendment of ARB No. 51

SFAS 140, September 2000, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, a replacement of FASB Statement of No. 125
FIN 46(R), Revised in December 2003 and amended by SFAS 167 in June 2009
SFAS 166, June 2009, Accounting for Transfers of Financial Assets, an amendment of FASB Statement No. 140
SFAS 167, June 2009, Amendments to FASB Interpretation No. 46(R)

1. Qualifying Special Purpose Entities (QSPE)

(1) Before SFAS 167
--> FIN 46(R) did not apply to QSPE
--> FIN 46(R)-pr 4, QSPEs are not consolidated
(2) SFAS 166 deleted the concept of QSPE from SFAS 140 in June 2009
(3) SFAS 167 amended FIN 46(R) to delete the exception for QSPE in June 2009

2. In December 2007, SFAS 160 amended ARB 51.

3. Noncontrolling interests (NCI) are presented within equity
--> separately from the parent's equity

4. Consolidated net income
--> includes the NCI portion of net income

5. Consolidated comprehensive income
--> includes the NCI portion of comprehensive income

6. Before SFAS 160
--> Minority interest cannot have a deficit balance
--> Excess losses attributable to minority interest
--> are charged to the majority interest

7. After SFAS 160
--> NCI can have a deficit balance
--> All losses attributable to NCI
--> are charged to NCI

8. Variable Interest Entities (VIE)
(1) SFAS 167 amended FIN 46(R) in June 2009
(2) FIN 46(R) revised FIN 46 in December 2003
(3) FIN 46 was issued in January 2003 as an interpretation of ARB 51

9. Determination of VIE
(1) SFAS 167 amended FIN46R-5b(1)
(2) Whether an entity is a VIE may change after SFAS 167

10. Reconsideration of VIE
--> FIN46R-7e was added as an event for reconsideration of VIE

11. Determination of Primary Beneficiary
--> Quantitative approach was deleted
--> "majority" guidance was deleted by amending FIN46R-14

14. Reconsideration of Primary Beneficiary
--> Reassessment is done on an ongoing basis, after SFAS 167
--> FIN46R-15, that listed the events triggering reconsideration, was deleted

15. Troubled debt restructuring
--> Before SFAS 167, troubled debt restructuring was not an event
that triggers the reconsideration of VIE or Primary Beneficiary
--> Such exceptions were deleted by amendments to FIN46R-7 and FIN46R-15

16. Additional disclosures
--> Paragraphs 22A - 22E and 23A were added to FIN46R
--> for additional disclosures




Index of U.S. GAAP Financial Accounting Review


U.S. GAAP by Codification Topics 
 
 105  GAAP Hierarchy 
 105  GAAP History 

 205  Presentation of Financial Statements 
 205-20 Discontinued Operations 
 210  Balance Sheet 
 210-20 Offsetting 
 220  Comprehensive Income 
 225  Income Statement 
 225-20 Extraordinary and Unusual Items 
 230  Statement of Cash Flows 
 250  Accounting Changes and Error Corrections 
 260  Earnings per Share 
 270  Interim Reporting
 
 310  Impairment of a Loan
 320  Investment Securities 
 320  Other-Than-Temporary Impairments, FSP FAS 115-2 
 320-10-05 Overview of Investments in Other Entities 
 320-10-35 Reclassification of Investments in Securities
 323-10 Equity Method Investments
 323-30 Investments in Partnerships and Joint Ventures 
 325-20 Cost Method Investments 
 330  Inventory

 340-20 Capitalized Advertising Costs 
 350-20 Goodwill 
 350-30 Intangibles Other than Goodwill 
 350-40 Internal-Use Software 
 350-50 Website Development Costs 
 360  Property, Plant and Equipment
 360-20 Real Estate Sales


 410  Asset Retirement and Environmental Obligations 
 420  Exit or Disposal Cost Obligations 
 450  Contingencies 
 450-20 Loss Contingencies 
 450-30 Gain Contingencies
 480  Redeemable Financial Instruments 

 505-20 Stock Dividends, Stock Splits 
 505-30 Treasury Stock 

 605  SEC Staff Accounting Bulletin, Topic 13 
 605-25 Revenue Recognition - Multiple Element Arrangements 
 
 715-30 Defined Benefit Plans - Pension
 718  Share-Based Payment 
 730  Research and Development 
 730-20 Research and Development Arrangements 

 805  Business Combinations  
 810  Consolidation 
 810  Noncontrolling Interests 
 810  Consolidation of Variable Interest Entities, SFAS 167 
 
 815  Derivatives and Hedging Overview 

 820  Fair Value Measurements  
 820  Fair value when the markets are not active, FSP FAS 157-4
 825  Fair Value Option 

 830  Foreign Currency Matters 
 830-20 Foreign Currency Transactions 
 830-30 Translation of Financial Statements 
 835  Interest 
 835-20 Capitalization of Interest 
 835-30 Imputation of Interest 

 840  Leases 
 840-20 Operating Leases 
 840-30 Capital Leases 
 840-40 Sale-Leaseback Transactions
 845  Nonmonetary Transactions 

 855  Subsequent Events 
 860-20 Sale of Financial Assets, SFAS 166 
 860-50 Servicing Assets and Liabilities, SFAS 156 

 985-20 Costs of software to be sold  


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