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U.S. GAAP Codification of Accounting Standards |
| U.S. GAAP Codification | Accounting Standards, ASC |
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U.S. GAAP
Codification of Accounting Standards |
| U.S. GAAP Codification Updates |
| Principles of Accounting, Intermediate Accounting, Advanced Accounting |
| Accounting Terms |
| 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) |
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Codification Topic 225 Income Statement |
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Subtopics of Codification Topic 225 225-10 Overall 225-20 Extraordinary and unusual items 225-30 Business interruption insurance |
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Accounting Terms of Codification Topic 225-20 Business interruption insurance Extraordinary items Infrequency of occurrence Unusual nature |
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Accounting Terms of Codification Topic 225-30 Gross margin |
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| Accounting Topics |
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