October 2014
Intermediate to advanced
1512 pages
57h 40m
English
book
Wiley GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015
by Joanne M. Flood
Content preview from Wiley GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015
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Chapter 34ASC 480 DISTINGUISHING LIABILITIES FROM EQUITY
Additional terms from the ASC Master Glossary that may be useful:
Initial and Subsequent Measurements
Mandatorily Redeemable Shares and Similar Instruments
Obligations to Repurchase Shares
PERSPECTIVE AND ISSUES
Subtopic
ASC 480, Distinguishing Liabilities from Equity Topic, contains one Subtopic:
- ASC 480-10, Overall, which provides guidance on how an issuer classifies and measures financial instruments with characteristics of both liabilities and equity.
Scope and Scope Exceptions
ASC 480 applies to all entities and to any freestanding financial instrument. This includes one that:
- Comprises more than one option or forward contract
- Has characteristics of both a liability and equity and, in some circumstances, also has characteristics of an asset.
ASC 480 does not address an instrument that has only characteristics of an asset. ASC 480 does not apply to:
- A feature embedded in a financial instrument that is not a derivative instrument in its entirety.
- An obligation under share-based compensation arrangements if that obligation is accounted for under Topic 718.
(Also see the Applicability of ASC 480 section in this chapter or an expanded discussion of which instruments fall under the scope of ...
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