A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
The ASUs in this chapter that are affected are: ASU 2016‐13, ASU 2018‐19, ASU 2019‐04, and ASU 2019‐05. It begins by outlining how ASU 2016‐13 affects ASC 310. ASU 2016‐13 changes the accounting for credit impairments for trade and other receivables and purchased‐credit impaired financial assets. ASU 2019‐04 clarifies that the amount by which the amortized cost basis exceeds fair value is accounted for as valuation allowance and changes in the valuation allowance should be reflected in net income in the period of change. ASC 310, Receivables, consists of four subtopics: ASC 310‐10, overall; ASC 310‐20, nonrefundable fees and other costs; ASC 310‐30, loans and debt securities acquired with deteriorated credit quality; and ASC 310‐40, troubled debt restructurings by creditors. The guidance for subsequent measurement of receivables remains in effect after the implementation of ASU 2016‐13.
The ASUs in this chapter that are affected are: ASU 2016‐13, ASU 2018‐19, ASU 2019‐04, and ASU 2019‐05. It begins by outlining how ASU 2016‐13 affects ASC 310. ASU 2016‐13 changes the accounting for credit impairments for trade and other receivables and purchased‐credit impaired financial assets. ASU 2019‐04 clarifies that the amount by which the amortized cost basis exceeds fair value is accounted for as valuation allowance and changes in the valuation allowance should be reflected in net income in the period of change. ASC 310, Receivables, consists of four subtopics: ASC 310‐10, overall; ASC 310‐20, nonrefundable fees and other costs; ASC 310‐30, loans and debt securities acquired with deteriorated credit quality; and ASC 310‐40, troubled debt restructurings by creditors. The guidance for subsequent measurement of receivables remains in effect after the implementation of ASU 2016‐13.
ASC 310 RECEIVABLES
Flood, Joanne M. (author)
Wiley GAAP 2021 ; 197-241
2021-03-09
45 pages
Article/Chapter (Book)
Electronic Resource
English
| Wiley | 2019
| Wiley | 2018
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