U.S. GAAP Codification of Accounting Standards

U.S. GAAP Codification Accounting Topics



U.S. GAAP Codification
News and Updates



U.S. GAAP Codification Updates
Principles of Accounting Intermediate Accounting Advanced Accounting
Accounting Terms


U.S. GAAP Codification Updates in 2011

Accounting Standards Updates (ASUs) Issued in 2011

ASU 2011-05 --> Issued in June 2011
ASU 2011-04 --> Issued in May 2011
ASU 2011-03 --> Issued in April 2011
ASU 2011-02 --> Issued in April 2011
ASU 2011-01 --> Issued in January 2011

ASU 2011-05
--> Issued in June 2011
--> "Presentation of Comprehensive Income"
--> Amends the codification topic 220, Comprehensive Income

ASU 2011-04
--> Issued in May 2011
--> "Amendments to achieve common fair value measurement and disclosure requirements in U.S. GAAP and IFRSs"
--> Amends the codification topic 820, Fair value measurement

ASU 2011-03
--> Issued in April 2011
--> "Reconsideration of effective control for repurchase agreements"
--> Amends the codification topic 860, Transfers and servicing


ASU 2011-02
--> Issued in April 2011
--> "A creditor's determination of whether a restructuring is a troubled debt restructuring"
--> Amends the codification topic 310, Receivables


ASU 2011-01
--> Issued in January 2011
--> "Deferral of the effective date of disclosures about troubled debt restructurings in update no. 2010-20"
--> Amends the codification topic 310, Receivables



U.S. GAAP Codification Updates in 2010

December 2010
  
Accounting Standards Update (ASU) 2010-29 was issued
--> Disclosure of supplementary pro forma information for business combinations     
--> Codification topic 805
--> Business combinations
--> EITF consensus
  
Accounting Standards Update (ASU) 2010-28 was issued
--> When to perform step 2 of the goodwill impairment test for reporting units with zero or negative carrying amounts     
--> Codification topic 350
--> Intangibles - Goodwill and other
--> EITF consensus
  
Accounting Standards Update (ASU) 2010-27 was issued
--> Fees paid to the federal government by pharmaceutical manufacturers     
--> Codification topic 720
--> Other expenses
--> EITF consensus


October 2010
  
Accounting Standards Update (ASU) 2010-26 was issued
--> Accounting for costs associated with acquiring or renewing insurance contracts     
--> Codification topic 944
--> Financial services: insurance


September 2010
  
Accounting Standards Update (ASU) 2010-25 was issued
--> Reporting loans to participants by defined contribution pension plans   
--> Codification topic 962
--> Plan accounting: defined contribution pension plans


August 2010
  
Accounting Standards Update (ASU) 2010-24 was issued
--> Health care entities
--> Codification topics 954-450, 954-720
--> Presentation of insurance claims and related insurance recoveries
--> EITF consensus
  
Accounting Standards Update (ASU) 2010-23 was issued
--> Health care entities
--> Codification topic 954-605
--> Measuring charity care for disclosure
--> EITF consensus
  
Accounting Standards Update (ASU) 2010-22 was issued
--> Accounting for various topics
--> Technical corrections to SEC paragraphs
--> Amendments based on SEC Staff Accounting Bulletin (SAB) No. 112
--> SAB No. 112 amended SAB Topics 2, 5, 6
--> to reflect the contents of SFAS 141R and SFAS 160
  
Accounting Standards Update (ASU) 2010-21 was issued
--> Accounting for technical amendments to various SEC rules and schedules
--> SEC paragraphs
--> Amendments based on SEC Release No. 33-9026
--> Release No. 33-9026: Technical amendments to rules, forms, schedules and codification of financial reporting policies


July 2010
  
Accounting Standards Update (ASU) 2010-20 was issued
--> Receivables
--> Codification topic 310
--> Disclosures about the credit quality of financing receivables and the allowance for credit losses   


May 2010
  
Accounting Standards Update (ASU) 2010-19 was issued
--> Foreign currency
--> Codification topic 830
--> Foreign currency issues: multiple foreign currency exchange rates
--> SEC staff announcement   


April 2010
  

Accounting Standards Update (ASU) 2010-18 was issued
--> Receivables
--> Codification topic 310
--> Effect of a loan modification when the loan is part of a pool that is accounted for as a single asset
--> EITF consensus
  

Accounting Standards Update (ASU) 2010-17 was issued
--> Revenue recognition - milestone method
--> Codification topic 605
--> 605-28 was added
--> Milestone method of revenue recognition
--> EITF consensus
  
Accounting Standards Update (ASU) 2010-16 was issued
--> Entertainment - casinos
--> Codification topic 924
--> Accruals for casino jackpot liabilities
--> EITF consensus
  
Accounting Standards Update (ASU) 2010-15 was issued
--> Insurance
--> Codification topic 944
--> Investments held through separate accounts
  
Accounting Standards Update (ASU) 2010-14 was issued
--> Extractive activities
--> Codification topic 932
--> SEC update
  
Accounting Standards Update (ASU) 2010-13 was issued
--> Stock compensation
--> Codification topic 718
--> Pricing of share-based payment in certain currency
  
Accounting Standards Update (ASU) 2010-12 was issued
--> Income taxes
--> Codification topic 740
--> 2010 Health Care Reform Act


March 2010
  
Accounting Standards Update (ASU) 2010-11 was issued
--> Derivatives and Hedging
--> Codification topic 815
--> Embedded credit derivatives


February 2010
  
Accounting Standards Update (ASU) 2010-10 was issued
--> Consolidation
--> Codification topic 810
--> Certain investment funds
  
Accounting Standards Update (ASU) 2010-09 was issued
--> Subsequent events
--> Codification topic 855
--> Recognition and disclosure requirements
  
Accounting Standards Update (ASU) 2010-08 was issued
--> Accounting for various topics
--> technical corrections


January 2010
  
Accounting Standards Update (ASU) 2010-07 was issued
--> Not-for-profit entities: mergers and acquisitions
--> Codification topic 958-805
--> update based on SFAS No. 164 issued in April 2009
  
Accounting Standards Update (ASU) 2010-06 was issued
--> Improving disclosures about fair value measurements
--> Codification topic 820-10
--> added new disclosure requirements and clarified other disclosures
 
  List of updates to topic 820
 
Accounting Standards Update (ASU) 2010-05 was issued
--> Escrowed share arrangements and the presumption of compensation
--> Codification topic 718-10 (Stock compensation)
--> update based on EITF D-110, Escrowed share arrangements and the presumption of compensation
 
Accounting Standards Update (ASU) 2010-04 was issued
--> Accounting for various topics
--> technical corrections
 
Accounting Standards Update (ASU) 2010-03 was issued
--> Oil and gas reserve estimation and disclosures
--> Codification topic 932-10, 235, 360, 470, 720, 740, 810, 815, 835
--> update based on SEC Final Rule, "Modernization of oil and gas reporting"
 
Accounting Standards Update (ASU) 2010-02 was issued
--> Accounting and reporting for decreases in ownership of a subsidiary - a scope clarification
--> Codification topic 810-10
--> clarification of topic 810-10
 
Accounting Standards Update (ASU) 2010-01 was issued
--> Accounting for distributions to shareholders with components of stock and cash
--> Codification topic 505-20   
--> update based on EITF No. 09-E


U.S. GAAP Codification Updates in 2009

December 2009
  
Accounting Standards Update (ASU) 2009-17 was issued
--> Amendments to FASB Interpretation No. 46(R)
--> Codification topic 810-10
--> update based on SFAS No. 167

  Summary of Accounting Standards Update (ASU) 2009-17

Accounting Standards Update (ASU) 2009-16 was issued
--> Accounting for Transfers of Financial Assets
     an amendment of FASB Statement No. 140
--> Codification topic 860-10, 20, 30
--> update based on SFAS No. 166

  Summary of Accounting Standards Update (ASU) 2009-16
  
 
October 2009
  
Accounting Standards Update (ASU) 2009-15 was issued
--> Own-share lending arrangements
--> Codification topic 470-20
--> update based on EITF No. 09-1

  Summary of Accounting Standards Update (ASU) 2009-15

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

 Summary of Accounting Standards Update (ASU) 2009-14

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

 Summary of Accounting Standards Update (ASU) 2009-13
   
 
September 2009
 
Accounting Standards Update (ASU) 2009-12 was issued
--> Fair value measurements and disclosures, SFAS 157
--> Codification topic 820-10
  
Accounting Standards Update (ASU) 2009-11 was issued
--> SEC Update
 
Accounting Standards Update (ASU) 2009-10 was issued
--> SEC Update
 
Accounting Standards Update (ASU) 2009-09 was issued
--> SEC Update
 
Accounting Standards Update (ASU) 2009-08 was issued
--> SEC Update
 
Accounting Standards Update (ASU) 2009-07 was issued
--> SEC Update
  
Accounting Standards Update (ASU) 2009-06 was issued
--> Codification topic 740
--> Income Taxes, FIN 48
   
 
August 2009
 
Accounting Standards Update (ASU) 2009-05 was issued
--> Measuring liabilities at fair value
--> Codification topic 820-10
--> Fair value measurements and disclosures, SFAS 157
 
Accounting Standards Update No. 2009-04 was issued
--> SEC Update
 
Accounting Standards Update No. 2009-03 was issued
--> SEC Update
   
 
June 2009
 
Accounting Standards Update (ASU) 2009-02 was issued
--> Technical corrections
 
Accounting Standards Update (ASU) 2009-01 was issued
--> Generally accepted accounting principles
--> Codification topic 105
--> SFAS 168
   


U.S. GAAP Codification of Accounting Standards
 
U.S. GAAP Codification Overview
Codification Topic 100: General Principles
Codification Topic 200: Presentation
Codification Topic 300: Assets
Codification Topic 400: Liabilities
Codification Topic 500: Equity
Codification Topic 600: Revenue
Codification Topic 700: Expenses
Codification Topic 800: Broad Transactions
Codification Topic 900: Industry


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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