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ASC 340 Other Assets and Deferred Costs
This chapter provides clear explanations and practical examples for real‐world application of ASC 340, Other Assets and Deferred Costs. It includes relevant sources of GAAP and expert guidance on interpretation, terminology, relevant concepts, and applicable rules, while in‐depth discussion on the issues surrounding specific pronouncements offers informative perspective for a variety of scenarios. ASC 340 contains four subtopics: ASC 340‐10, Overall; ASC 340‐20, Capitalized Advertising Costs; ASC 340‐30, Insurance Contracts that Do Not Transfer Insurance Risk; and ASC 340‐40, Contracts with Customers. The guidance in ASC 340‐10 is limited to a discussion of the nature of prepaid expenses and guidance for preproduction costs related to long‐term supply arrangements. Prepaid expenses are amounts paid to secure the use of assets or the receipt of services at a future date or continuously over one or more future periods.
ASC 340 Other Assets and Deferred Costs
This chapter provides clear explanations and practical examples for real‐world application of ASC 340, Other Assets and Deferred Costs. It includes relevant sources of GAAP and expert guidance on interpretation, terminology, relevant concepts, and applicable rules, while in‐depth discussion on the issues surrounding specific pronouncements offers informative perspective for a variety of scenarios. ASC 340 contains four subtopics: ASC 340‐10, Overall; ASC 340‐20, Capitalized Advertising Costs; ASC 340‐30, Insurance Contracts that Do Not Transfer Insurance Risk; and ASC 340‐40, Contracts with Customers. The guidance in ASC 340‐10 is limited to a discussion of the nature of prepaid expenses and guidance for preproduction costs related to long‐term supply arrangements. Prepaid expenses are amounts paid to secure the use of assets or the receipt of services at a future date or continuously over one or more future periods.
ASC 340 Other Assets and Deferred Costs
Flood, Joanne M (author)
Wiley <fc>GAAP</fc> 2019 ; 377-391
2019-03-19
15 pages
Article/Chapter (Book)
Electronic Resource
English
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