A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Accounting Standards Codification (ASC) 405 provides accounting and reporting guidance related to short‐term liabilities and certain guidance that may apply broadly to any liability. ASC 405 guidance applies to all entities with the covered transactions. ASC 405, Liabilities, consists of four subtopics: ASC 405‐10, Overall; ASC 405‐20, Extinguishments of Liabilities; ASC 405‐30, Insurance‐Related Assessments; and ASC 405‐40, Obligations Resulting from Joint and Several Liabilities. ASC 405‐10 merely points to other areas of the Codification that contain guidance on liabilities. ASC 405‐20 provides guidance on when an entity should consider a liability settled. ASC 405‐20 applies to extinguishments of both financial and nonfinancial liabilities unless addressed by another topic. ASC 405‐30 provides guidance on items such as assessments for state guaranty funds and workers' compensation second‐injury funds. ASC 405‐40 provides guidance on arrangements where the total amount of the obligation is fixed at the reporting date.
Accounting Standards Codification (ASC) 405 provides accounting and reporting guidance related to short‐term liabilities and certain guidance that may apply broadly to any liability. ASC 405 guidance applies to all entities with the covered transactions. ASC 405, Liabilities, consists of four subtopics: ASC 405‐10, Overall; ASC 405‐20, Extinguishments of Liabilities; ASC 405‐30, Insurance‐Related Assessments; and ASC 405‐40, Obligations Resulting from Joint and Several Liabilities. ASC 405‐10 merely points to other areas of the Codification that contain guidance on liabilities. ASC 405‐20 provides guidance on when an entity should consider a liability settled. ASC 405‐20 applies to extinguishments of both financial and nonfinancial liabilities unless addressed by another topic. ASC 405‐30 provides guidance on items such as assessments for state guaranty funds and workers' compensation second‐injury funds. ASC 405‐40 provides guidance on arrangements where the total amount of the obligation is fixed at the reporting date.
ASC 405 Liabilities
Flood, Joanne M (author)
Wiley <fc>GAAP</fc> 2018 ; 479-484
2018-03-12
6 pages
Article/Chapter (Book)
Electronic Resource
English
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