Our friends at BPM sent us this alert today regarding an Accounting Standards Update (ASU) 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS and we felt our readers should know about this. Here is a snippet:
"Could Codification Weaken Internal Controls? Maybe. And here's what you can do to mitigate the effect on your accounting policies, disclosures, and error detection.
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Codification Tools: FAS 123(R) ASC 718 Compensation Information
We have just posted a significant amount of FAS 123(R) ASC 718 Compensation - Stock Compensation codification cross reference information to our Codification Tools page.
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Compliance Tools: Still More Codification Cheat Sheet Information
Here is more codification information from the FASB Accounting Standards. Please verify the accuracy of this information prior to relying on it.
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Compliance Tools: Even More Codification Cheat Sheet Information
DERIVATIVES |
Accounting Standards |
FASB Codification |
Definition |
FAS 133, par. 6, 9 FSPEITF 00-19-2 |
ASC 815-10-15 ASC 825-20 |
Scope exceptions |
FAS 133, par. 10 FAS 133, par. 11a EITF 07-5 EITF 00-19 DIG A6 DIG A10 DIG A12 DIG C12 |
ASC 815-10-15 ASC 815-10-15-74 ASC 815-40-15 ASC 815-40 ASC 815-10-55 ASC 815-10-15 ASC 815-10-55-99 thru 110 ASC 815-10-15-39 |
Embedded Derivatives |
FAS 133, par. 12, 13, 61 DIG B16
DIG B38 DIG B39 EITF D-109 |
ASC 815-15-25 ASC 815-15-25-42 thru 43, and 815-15-55-13 ASC 815-10-15-107 thru 109 ASC 815-15-25-37 thru 39, and 815-15-55-25 ASC 815-10-S99-3 |
HEDGING |
Accounting Standard |
FASB Codification |
Eligibility/ Designation |
DIG G2 DIG G13 FAS 133, par. 20c, 28c FAS 133, par. 29 FAS 133, par. 32 FAS 133, par. 40a |
ASC 815-20-55-111 Example 8 ASC 815-20-55-88 Example 4 ASC 815-20-25-94 ASC 815-20-25-15 ASC 815-30-40-1 thru 3 ASC 815-20-25-61 |
Hedge effectiveness and ineffectiveness |
FAS 133, par. 68 DIG G20 FAS 133, par. 120c FAS 138 FV Example DIG G7 Method 1 DIG G7 Method 2 DIG G7 Method 3 DIG H8 DIG E7 |
ASC 815-20-25-102 thru 117 ASC 815-20-25-126, 55-209, and 35-33 ASC 815-25-55-53 Example 9 ASC 815-25-55-72 Example 11 ASC 815-30-35-16 ASC 815-30-35-25 ASC 815-30-35-31 ASC 815-35-35 ASC 815-20-35 |
OTHER BROAD TRANSACTIONS |
Accounting Standard |
FASB Codification |
Transfers |
FAS 140/FAS 166***
FAS 156 |
ASC 860, ***Not yet codified ASC 860-50-35 and 860-50-50-5 |
Consolidations |
FIN 46R/FAS 167***
ARB 51 FAS 160 EITF 96-16 EITF 04-5 EITF 85-12 |
ASC 810, ***Not yet codified ASC 810-10 ASC 810-10-65-1 ASC 810-10-25-1 thru 14 ASC 810-20-25-1 thru 20, and 810-20-55-1 thru 16 ASC 810-10-25-15 |
Leasing |
FAS 13 FAS 98 EITF 97-10 EITF 01-8 EITF 00-13 |
ASC 840 ASC 840-40 ASC 840-40-55 ASC 840-10-15/55 ASC 360-20-15/55 |
Foreign Currency Matters |
FAS 52 EITF D-55 |
ASC 830 ASC 830-10-45-12 and 830-10-55-2 |
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