U.S. GAAP Codification of Accounting Standards Guide by AccountingINFO.com

U.S. GAAP Codification of Accounting Standards

Principles of Accounting, Intermediate Financial Accounting, U.S. GAAP Textbook

Accounting by Topic, Accounting Terms Dictionary

U.S. GAAP Accounting Standards
Codification Topic 225: Income Statement

Codification Topic 225
Income Statement

Income attributable to the noncontrolling interest

SFAS 160, December 2007
"Noncontrolling Interests in Consolidated Financial Statements
an Amendment of ARB No. 51"

ARB 51, August 1959
"Consolidated Financial Statements"

1. SFAS 160 amended ARB No. 51

2. On the face of the consolidated financial statements
--> report (A1) and (A2) separately
(A1) Consolidated net income attributable to the parent
(A2) Consolidated net income attributable to the noncontrolling interest

3. On the face of the consolidated financial statements
--> report (B1) and (B2) separately
(B1) Consolidated comprehensive income attributable to the parent
(B2) Consolidated comprehensive income attributable to the noncontrolling interest

4. SFAS 160, Transition
The requirements for presentation and disclosure are
--> applied "retrospectively"
--> for all periods presented

4a. Consolidated net income is adjusted
--> to include net income attributed to the noncontrolling interest

4b. Consolidated comprehensive income is adjusted
--> to include comprehensive income attributed to the noncontrolling interest

4c. Noncontrolling interest is reclassified
--> to equity

Line items of income statement

Regulation S-X: 17 CFR Part 210
Rule 5-03: Income Statements

1. Net sales
2. Cost of sales
3. Selling, general and administrative (SG&A) expenses
4. Provisions for doubtful accounts
5. Non-operating income
6. Interest income and interest expense
7. Non-operating expenses
8. Income before income taxes
9. Income taxes
10. Earnings on equity investments
11. Income from continuing operations
12. Discontinued operations
13. Income before extraordinary items
14. Extraordinary items, net of income tax
15. Net income
16. Net income attributable to the noncontrolling interest
17. Net income attributable to the controlling interest
18. Earnings per share (Basic EPS and Diluted EPS)

Codification Topic 225
Income Statement

Subtopics of Codification Topic 225

   225-10 Overall
   225-20 Extraordinary and unusual items
   225-30 Business interruption insurance

Accounting Terms of Codification Topic 225-20

   Business interruption insurance
   Extraordinary items
   Infrequency of occurrence
   Unusual nature

Accounting Terms of Codification Topic 225-30

Gross margin