U.S. GAAP Codification of Accounting Standards

U.S. GAAP Codification Accounting Standards, ASC



U.S. GAAP Codification of Accounting Standards
Codification Topic 4
50-30: Gain Contingencies


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


Codification Topic 450-30
Gain Contingencies



Gain contingency
--> a gain will incur if certain future events occur or not occur

Recognition of a gain contingency
--> a gain contingency is not recognized
--> in the financial statements

Disclosure of a gain contingency
--> a gain contingency may be disclosed in the notes
--> however, misleading implications about (A) should be avoided
(A) the likelihood of realization



   Codification Topic 450
   Contingencies
 
Subtopics of Codification Topic 450
 
   450-10 Overall
   450-20 Loss contingencies
   450-30 Gain contingencies   
 
Accounting Terms of Codification Topic 450-10
 
   Contingency
   Gain contingency
   Loss contingency
 
Accounting Terms of Codification Topic 450-20
 
   Probable
   Reasonably possible
   Remote
 
Accounting Terms of Codification Topic 450-30
    


   Other Topics at the Codification 400 
Accounting Standards Codification, ASC, Overview
 
ASC Codification Topic 405: Liabilities
 
ASC Codification Topic 410: Asset Retirement and Environmental Obligations
 
ASC Codification Topic 420: Exit or Disposal Cost Obligations
 
ASC Codification Topic 430: Deferred Revenue
 
ASC Codification Topic 440: Commitments
 
ASC Codification Topic 450: Contingencies
 
ASC Codification Topic 460: Guarantees
 
ASC Codification Topic 470: Debt
 
ASC Codification Topic 480: Distinguishing Liabilities from Equity


   U.S. GAAP Codification of Accounting Standards
Accounting Standards Codification, ASC, Overview
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

U.S. GAAP by Topic
Accounting Topics


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