U.S. GAAP Codification of Accounting Standards

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U.S. GAAP Accounting Standards
Codification Topic 480: Distinguishing Liabilities from Equity


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Codification Topic 480
Distinguishing Liabilities from Equity


Equity or Liabilities ?
 
   SFAS No. 150, May 2003
   "Accounting for Certain Financial Instruments with Characteristics of 
    both Liabilities and Equity"

   FASB Staff Position FAS 150-3, November 2003
   "Effective date, disclosures, and transition for
    mandatorily redeemable financial instruments of certain nonpublic entities ..."
 
Rules of SFAS No. 150
 
   1. Mandatorily redeemable financial instruments
   --> classified as a liability
   --> asc 48-10-25-4
 
   2. Obligations to repurchase the issuer's equity shares
       by transferring assets
   --> classified as a liability
   --> asc 480-10-25-8
  
   Examples:
   (a) or (b) that are physically settled or net cash settled
   (a) forward purchase contracts on the issuer's equity shares
   (b) written put options on the issuer's equity shares

   3. Certain obligations to issue a variable number of shares
   --> classified as a liability
   --> asc 480-10-25-14
 
   Example:
   An obligation that the issuer must or may settle 
   --> by issuing a "variable number" of its equity shares
 
Open effective date:
   FASB Staff Position FAS 150-3, November 2003
 
   1. Grouping of mandatorily redeemable financial instruments
 
   Group 1: mandatorily "redeemable on fixed dates", 
                for fixed or determinable amounts
   Group 2: mandatorily redeemable financial instruments other than Group 1
 
   2. Certain nonpublic entities
   --> Nonpublic entities that are not SEC registrants
 
   3. Rules of SFAS No. 150 are
   --> deferred indefinitely, pending further FASB action
  
   --> for "Group 2" mandatorily redeemable financial instruments
   --> issued by nonpublic entities that are not SEC registrants
   --> asc 480-10-65-1


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   Codification Topic 480
   Distinguishing Liabilities from Equity
 
Subtopics of Codification Topic 480
 
   480-10 Overall   
 
Accounting Terms of Codification Topic 480-10
 
   Employee stock ownership plan
   Equity shares
   Fair value
   Financial instrument
   Freestanding financial instrument
   Issuer
   Issuer's equity shares
   Mandatorily redeemable financial instrument
   Monetary value
   Net cash settlement
   Net share settlement
   Noncontrolling interest
   Obligation
   Parent
   Physical settlement
   Securities and exchange commission registrant
   Shares
   Subsidiary
   Transfer
   Variable-rate forward contracts   
 

 

   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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