|
U.S. GAAP Codification of Accounting Standards |
| U.S. GAAP Codification | Accounting Standards, ASC |
| Principles of Accounting, Intermediate Financial Accounting, U.S. GAAP Textbook |
| Accounting by Topic, Accounting Terms Dictionary |
|
U.S. GAAP Accounting Standards |
|
Codification Topic 825 Financial Instruments Fair Value Option SFAS No. 159, February 2007 " The Fair Value Option for Financial Assets and Financial Liabilities" Fair Value Option(FVO) --> Option to measure eligible items at fair value Eligible items: asc 825-10-15-4 (a) Financial assets and financial liabilities --> except the items not eligible listed in asc 825-10-15-4 (b) Other eligible items listed in asc 825-10-15-4 Items not eligible: asc 825-10-15-5 (a) Investment in a subsidiary to be consolidated (b) Investment in a Variable Interest Entities (VIE) to be consolidated (c) Other items listed in asc 825-10-15-5 Election of FVO FVO is applied "instrument by instrument." FVO is elected when the eligible item is "first recognized." Once FVO is elected --> the decision is "irrevocable." Items Fair Value Option was elected for Measured at "fair value" Unrealized gains and losses are recognized in "earnings." FVO may be elected for the following: 1. Investment in HTM securities 2. Investment in AFS securities 3. Investment in equity securities for "equity method" --> 20% or more, but no more than 50% of ownership 4. Financial liabilities HTM: Held-to-Maturity AFS: Available for Sale For HTM and AFS, refer to asc 320 |
|
Codification Topic 825 Financial Instruments |
|
Subtopics of Codification Topic 825 825-10 Overall 825-20 Registration payment arrangements |
|
Accounting Terms of Codification Topic 825-10 Conduit debt securities Fair value Financial asset Financial instrument Financial liability Firm commitment Nonpublic entity Publicly traded company |
|
Accounting Terms of Codification Topic 825-20 |
| U.S. GAAP by Topic |
| Accounting Topics |
| Copyright © AccountingInfo.comTM Legal Disclaimer |