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FAR Personal Flashcards > ASC Topic Numbers > Flashcards

ASC Topic Numbers Flashcards

0
Q

Fair value option is what ASC topic number

A

825

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1
Q

Fair value measurement is what ASC topic number

A

820

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2
Q

Changing prices is what ASC topic number

A

255

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3
Q

What ASC topic number covers comprehensive income

A

220

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4
Q

What ASC topic # discusses Accounting Changes & Error Correction?

A

250

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5
Q

What ASC Topic # covers extraordinary items

A

225

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6
Q

What ASC topic # covers inventory

A

330

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7
Q

What is the ASC topic number for Non-monetary Transactions

A

845

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8
Q

What ASC topic number is tangible assets?

A

360

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9
Q

What ASC topic number is intangible assets?

A

350

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10
Q

What ASC topic number is computer software costs for software that is developed for sale/lease?

A

985

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11
Q

What ASC topic number is computer software costs for software that is developed for internal use?

A

350 (intangibles)

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12
Q

What ASC topic number is development stage enterprises

A

915

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13
Q

What ASC Topic Number is Impairment Loss?

A

360

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14
Q

What ASC Topic Number is Discontinued Operations

A

205

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15
Q

What ASC Topic Number covers transfers and servicing of financial assets

A

860

16
Q

What ASC topic number is current liabilities?

A

210

17
Q

What ASC topic numbers (2) cover the classification of short-term obligations expected to be refinanced

A

210 & 470

18
Q

What ASC topic number covers contingencies

A

450

19
Q

What ASC topic number covers accounting for asset retirement obligations (environmental liabilities)

A

410

20
Q

What ASC Topic number covers when control has been surrendered in a transfer of receivables

A

860

21
Q

What is the topic number covers convertible bonds

A

470

22
Q

What ASC topic number covers how notes should be valued on financial statements when executed

A

835

23
Q

What ASC topic number covers how do you account for the issuance of bonds with detachable warrants

A

470

24
Q

What ASC topic number applies to impairment only if the entity elects the fair value option for accounting for debt modification

A

825

25
Q

If the fair value option is not used in accounting for impairments what ASC topic number applies

A

depends on if you are the debtor or creditor
Debtor - 470
Creditor - 310

FAR Personal Flashcards (34 decks)

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