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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 |
| U.S. GAAP Codification Updates |
| Principles of Accounting, Intermediate Accounting, Advanced Accounting |
| Accounting Terms |
| Accounting Standards Update (ASU) No. 2009-15 |
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Accounting Standards Update
(ASU) No. 2009-15 |
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"Accounting for Own-Share Lending
Arrangements in Contemplation of Convertible Debt Issuance or Other Financing" Issued in October 2009 Based on the EITF No. 09-1 Codification topic updated --> 470-20 Debt with conversion and other options Summary of ASU No. 2009-15 1. Share-lending arrangement, in contemplation of convertible debt offering, is --> measured at fair value at the date of issuance and --> recognized as an issuance cost 470-20-25-20A 2. If default of the share-lending arrangement is probable, --> expense is recognized --> with an offset to additional paid-in capital --> Amount of expense = (A) - (B) (A) fair value of unreturned shares (B) fair value of probable recoveries 470-20-35-11A 3. In the calculation of basic EPS and diluted EPS, --> loaned shares are excluded --> unless the arrangement is in default 470-20-45-2A 4. If default of the share-lending arrangement occurs, --> loaned shares are included --> in the calculation of basic EPS and diluted EPS 470-20-45-2A If dividends on loaned shares are not reimbursed by the contract, --> dividends on loaned shares are excluded --> from "income available for common shareholders" If loaned shares are participating securities, --> participating rights in undistributed earnings are reported separately --> two-class method (260-10-45-60B) 470-20-45-2A |
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October 2009 |
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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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