U.S. GAAP Codification of Accounting Standards

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U.S. GAAP Codification
Accounting Standards Update No. 2009-13



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Accounting Standards Update (ASU) No. 2009-13
   
  
Accounting Standards Update (ASU) No. 2009-13
  
"Multiple-deliverable revenue arrangements"
Issued in October 2009
Based on the EITF No. 08-1

Codification topic updated
605 Revenue Recognition
25 Multiple-Element Arrangements


1. ASU No. 2009-13 revised Codification Topic 605-25

[After ASU No. 2009-13]

Use VSOE of selling price to allocate revenue to each element.

If VSOE does not exist, use TPE.
If TPE does not exist, use "best estimate" of selling price.
Residual method is not allowed.

VSOE: Vendor Specific Objective Evidence
TPE: Third Party Evidence


2. EITF No. 08-1 revised EITF No. 00-21

[EITF No. 00-21]
"Revenue Arrangements with Multiple Deliverables"

For multiple deliverable arrangements,
revenue is allocated based on VSOE of fair value

VSOE: Vendor Specific Objective Evidence

If VSOE of fair value does not exist,
--> Combined deliverables are recognized
--> as a single unit of accounting,

--> not as separate units of accounting

Residual method
If VSOE of fair value of "undelivered items" exists,
--> revenue of delivered items = (A) - (B)
(A) Total revenue
(B) Revenue of undelivered items

"Reverse" residual method is not allowed.


[EITF No. 08-1]
"Revenue Arrangements with Multiple Deliverables"

For multiple deliverable arrangements,
revenue is allocated based on VSOE of selling price

VSOE: Vendor Specific Objective Evidence

If VSOE of selling price does not exist,
--> use TPE of selling price

TPE: Third Party Evidence

If TPE of selling price does not exist,
--> use "best estimate" of selling price

Residual method is not allowed.

 
 
October 2009
  
Accounting Standards Update (ASU) No. 2009-15 was issued
--> update based on EITF No. 09-1
--> Own-share lending arrangements
--> Codification topic 470-20

Accounting Standards Update (ASU) No. 2009-14 was issued
--> update based on EITF No. 09-3
--> Software revenue
--> Codification topic 985-605

Accounting Standards Update (ASU) No. 2009-13 was issued
--> update based on EITF No. 08-1
--> Multiple-deliverable revenue arrangements
--> Codification topic 605-25   
 


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U.S. GAAP Codification of Accounting Standards
 
Accounting Standards Codification, ASC, Overview
ASC Codification 100: General Principles
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
 
Intermediate Accounting Topics
Advanced Accounting Topics
 
 




U.S. GAAP by Codification Topic 
 
 105  GAAP Hierarchy 
 105  GAAP History 

 205  Presentation of Financial Statements 
 205-20 Discontinued Operations 
 210  Balance Sheet 
 210-20 Offsetting 
 220  Comprehensive Income 
 225  Income Statement 
 225-20 Extraordinary and Unusual Items 
 230  Statement of Cash Flows 
 250  Accounting Changes and Error Corrections 
 260  Earnings per Share 
 270  Interim Reporting
 
 310  Impairment of a Loan
 320  Investment Securities 
 320  Other-Than-Temporary Impairments, FSP FAS 115-2 
 320-10-05 Overview of Investments in Other Entities 
 320-10-35 Reclassification of Investments in Securities
 323-10 Equity Method Investments
 323-30 Investments in Partnerships and Joint Ventures 
 325-20 Cost Method Investments 
 330  Inventory

 340-20 Capitalized Advertising Costs 
 350-20 Goodwill 
 350-30 Intangibles Other than Goodwill 
 350-40 Internal-Use Software 
 350-50 Website Development Costs 
 360  Property, Plant and Equipment
 360-20 Real Estate Sales 
 
 410  Asset Retirement and Environmental Obligations 
 420  Exit or Disposal Cost Obligations 
 450  Contingencies 
 450-20 Loss Contingencies 
 450-30 Gain Contingencies
 480  Redeemable Financial Instruments 

 505-20 Stock Dividends, Stock Splits 
 505-30 Treasury Stock 

 605  SEC Staff Accounting Bulletin, Topic 13 
 605-25 Revenue Recognition - Multiple Element Arrangements 
 
 715-30 Defined Benefit Plans - Pension
 718  Share-Based Payment 
 730  Research and Development 
 730-20 Research and Development Arrangements 

 805  Business Combinations  
 810  Consolidation 
 810  Noncontrolling Interests 
 810  Consolidation of Variable Interest Entities, SFAS 167 
 
 815  Derivatives and Hedging Overview 

 820  Fair Value Measurements  
 820  Fair value when the markets are not active, FSP FAS 157-4
 825  Fair Value Option 

 830  Foreign Currency Matters 
 830-20 Foreign Currency Transactions 
 830-30 Translation of Financial Statements 
 835  Interest 
 835-20 Capitalization of Interest 
 835-30 Imputation of Interest 

 840  Leases 
 840-20 Operating Leases 
 840-30 Capital Leases 
 840-40 Sale-Leaseback Transactions
 845  Nonmonetary Transactions 

 855  Subsequent Events 
 860-20 Sale of Financial Assets, SFAS 166 
 860-50 Servicing Assets and Liabilities, SFAS 156 

 985-20 Costs of software to be sold  
  








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