Asc 350 40 pwc

FASB Accounting Standards Codification Quick Reference Guide

The FASB Accounting Standards Codification (ASC or the "Codification") organizes nongovernmental U.S. GAAP using a topic-based model consisting of 90 individual Topics. Each Topic contains at least one Subtopic. Subtopics contain Sections, which include the actual accounting guidance. Sections are based on the nature of the content (e.g., scope, recognition, measurement, etc.) and are standardized throughout the Codification.

Topics, Subtopics, and Sections

Each Section includes numbered Paragraphs. Paragraph numbers start with the Section number followed by the unique paragraph number. For example, in Section 55 the first paragraph is numbered 55-1. Paragraph numbers in the Codification will not change going forward. New paragraphs may result in the FASB using a letter extension in order to keep the numbering constant. For example, a new paragraph inserted between paragraphs 55-3 and 55-4 would be numbered 55-3A.

Paragraphs

ASC XXX-YY-ZZ-PP Citation Format XXX = Topic YY = Subtopic ZZ = Section PP = Paragraph ASC 210 (Topic 210, "Balance Sheet") Citation Examples ASC 210-20 (Subtopic 20, "Offsetting," of Topic 210) ASC 210-20-60 (Section 60, "Relationships," of Subtopic 210-20) ASC 210-20-60-5 (Paragraph 60-5 of Section 210-20-60) New authoritative U.S. GAAP will be communicated via a new FASB document called an "Accounting Standards Update" (or "ASU" for short). As the FASB issues new guidance, both the current paragraphs and the new guidance will be featured in the Codification until the new guidance is effective for all entities. During this transition, the Codification will mark the new guidance as "Pending Text" and will link to the related transition guidance. When the new guidance is effective for all entities, the previous guidance will be removed and the new guidance will remain.

New Authoritative Guidance

The Codification is available in Comperio (www.pwccomperio.com), PwC's global library of accounting literature. Comperio includes several new features and a demo to assist PwC staff and Comperio subscribers in navigating the Codification. PwC clients and friends can obtain a free 30-day trial at www.pwc.com/comperio.

PwC Resources

PwC DataLine 2009 -12 provides an overview of the Codification. PwC clients and friends can access further information under the "Codification" hot topic on the CFOdirect Network (www.cfodirect.pwc.com). PwC staff can obtain additional information in the AASD database.

Additional Information

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ASC Topic List 100 General Principles 105 Generally Accepted Accounting Principles 200 Presentation 205 Presentation of Financial Statements 210 Balance Sheet 215 Statement of Shareholder Equity 220 Comprehensive Income 225 Income Statement 230 Statement of Cash Flows 235 Notes to Financial Statements 250 Accounting Changes and Error Corrections 255 Changing Prices 260 Earnings Per Share 270 Interim Reporting 272 Limited Liability Entities 274 Personal Financial Statements 275 Risks and Uncertainties 280 Segment Reporting 300 Assets 305 Cash and Cash Equivalents 310 Receivables 320 Investments—Debt and Equity Securities 323 Investments—Equity Method and

Joint Ventures 325 Investments—Other 330 Inventory 340 Other Assets and Deferred Costs 350 Intangibles—Goodwill and Other 360 Property, Plant, and Equipment 400 Liabilities 405 Liabilities