U.S. GAAP Codification of Accounting Standards Guide by AccountingINFO.com

U.S. GAAP Codification of Accounting Standards

U.S. GAAP Codification
Accounting Standards Update No. 2010-01

Principles of Accounting, Intermediate Accounting, Advanced Accounting

Accounting Standards Update (ASU) No. 2010-01

ASU 2010-01 was issued in January 2010
--> Accounting for distributions to shareholders with components of stock and cash
--> EITF consensus

--> Topic 505: Equity
--> 505-20: Stock dividends and stock splits

--> 505-20-05-3 was superseded
--> 505-20-05-4, 15-12 were amended
--> 505-20-15-3A, 65-1 were added

505-20-15-3(d)
Stock dividends subtopic does not apply the distribution of shares to shareholders
--> if shareholders can choose to receive cash or shares

505-20-15-3A added by ASU 2010-01 in January 2010
505-20-15-3(d) includes the following case where the distribution meets both (1) and (2)
(1) shareholders have a choice of cash or shares
(2) the aggregate amount of cash all shareholders can elect to receive has a potential limitation

If shareholders have a choice of cash or shares
--> apply the rules of 480-10-25-14

480-10-25-14
Obligation to issue a "variable" number of its own equity shares
--> is classified as a liability

Effective date of ASU 2010-01
--> Effective for IAE December 15, 2010
--> IAE: Interim and Annual periods Ending on or after

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