U.S. GAAP Codification of Accounting Standards

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

U.S. GAAP Accounting Standards
Codification Topic 450-30: Gain Contingencies


Principles of Accounting Intermediate Financial AccountingU.S. GAAP Textbook
IFRS,  IFRS Dictionary IFRS U.S. GAAP Comparison IFRS Texbook
Securities Law Library,  Accounting by Topic Accounting Terms Dictionary


Codification Topic 450-30
Gain Contingencies


Gain contingency
--> a gain will incur if certain future events occur or not occur

Recognition of a gain contingency
--> a gain contingency is not recognized
--> in the financial statements

Disclosure of a gain contingency
--> a gain contingency may be disclosed in the notes
--> however, misleading implications about (A) should be avoided
(A) the likelihood of realization


International Financial Reporting Standards (IFRS)

   IAS 37: Provisions, contingent liabilities and contingent assets


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   Codification Topic 450
   Contingencies
 
Subtopics of Codification Topic 450
 
   450-10 Overall
   450-20 Loss contingencies
   450-30 Gain contingencies   
 
Accounting Terms of Codification Topic 450-10
 
   Contingency
   Gain contingency
   Loss contingency
 
Accounting Terms of Codification Topic 450-20
 
   Probable
   Reasonably possible
   Remote
 
Accounting Terms of Codification Topic 450-30
    



   Other Topics at the Codification 400 
Accounting Standards Codification, ASC, Overview
 
ASC Codification Topic 405: Liabilities
 
ASC Codification Topic 410: Asset Retirement and Environmental Obligations
 
ASC Codification Topic 420: Exit or Disposal Cost Obligations
 
ASC Codification Topic 430: Deferred Revenue
 
ASC Codification Topic 440: Commitments
 
ASC Codification Topic 450: Contingencies
 
ASC Codification Topic 460: Guarantees
 
ASC Codification Topic 470: Debt
 
ASC Codification Topic 480: Distinguishing Liabilities from Equity


   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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