U.S. GAAP, Codification of Accounting Standards, ASC - Accounting Standards Codification by FASB

U.S. GAAP Codification of Accounting Standards

U.S. GAAP-Codification

U.S. GAAP Codification of Accounting Standards
Codification Topic 320:
Investments-Debt and Equity Securities
Other-Than-Temporary Impairments

U.S. GAAP Codification, Accounting Standards ASC,

IFRS Overview, IFRS, IAS by Topic, IFRS Dictionary

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Codification Topic 320
Investments-Debt and Equity Securities
--> FSP FAS 115-2, April 2009

Other-Than-Temporary Impairments

FASB Staff Position FAS 115-2, April 2009
"Recognition and Presentation of Other-Than-Temporary Impairments"

SFAS 115, May 1993
"Accounting for Certain Investments in Debt and Equity Securities"

Other-Than-Temporary Impairments of Debt Securities
--> classified as "held-to-maturity" or "available-for-sale" securities
--> Apply FSP FAS 115-1 as revised by FSP FAS 115-2 in April 2009

Other-Than-Temporary Impairments of Equity Securities
--> classified as "available-for-sale" securities
--> Apply SAB Topic 5M as revised by SAB 111 in April 2009
--> SAB: SEC Staff Accounting Bulletin

For investments in securities classified as "held-to-maturity" or "available-for-sale"
--> If the decline in fair value below amortized cost
--> is other than temporary,
--> the investments are impaired

FSP FAS 115-2, November 2005
--> "The Meaning of Other-Than-Temporary Impairment and Its Application to Certain Investments"
--> provides guidance to determine whether the decline in fair value
--> is other than temporary

FSP FAS 115-2 revised FSP FAS 115-1 in April 2009

International Financial Reporting Standards (IFRS)

IAS 39: Financial instruments: recognition and measurement

Codification Topic 320
Investments-Debt and Equity Securities

Subtopics of Codification Topic 320

320-10 Overall

Accounting Terms of Codification Topic 320-10

   Amortized cost basis
   Asset group
   Available-for-sale securities
   Component of an equity
   Cost basis
   Debt security
   Equity security
   Fair value
   Holding gain or loss
   Operating segment
   Readily determinable fair value
   Reporting unit
   Retrospective interest method
   Security
   Structured note
   Trading
   Trading securities