U.S. GAAP Codification of Accounting Standards

U.S. GAAP Codification IFRS International Standards Accounting Standards, ASC

U.S. GAAP Accounting Standards
Codification Topic 320: Investments-Debt and Equity Securities


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IFRS,  IFRS Dictionary IFRS U.S. GAAP Comparison IFRS Texbook
Securities Law Library,  Accounting by Topic Accounting Terms Dictionary


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


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   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
 


   Other Topics at the Codification 300 
Accounting Standards Codification, ASC, Overview
 
ASC Codification Topic 305: Cash and Cash Equivalents
 
ASC Codification Topic 310: Receivables
 
ASC Codification Topic 320: Investments-Debt and Equity Securities
ASC Codification Topic 323: Investments-Equity Method and Joint Ventures
ASC Codification Topic 325: Investments-Other
 
ASC Codification Topic 330: Inventory
 
ASC Codification Topic 340: Other Assets and Deferred Costs
 
ASC Codification Topic 350: Intangibles-Goodwill and Other
 
ASC Codification Topic 360: Property, Plant, and Equipment


   U.S. GAAP Codification of Accounting Standards
Accounting Standards Codification, ASC, Overview
ASC Codification 200: Presentation
ASC Codification 300: Assets
ASC Codification 400: Liabilities
ASC Codification 500: Equity
ASC Codification 600: Revenue
ASC Codification 700: Expenses
ASC Codification 800: Broad Transactions
ASC Codification 900: Industry

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