3ASC 210 Balance Sheet

  1. Perspective and Issues
    1. Subtopics
    2. Scope and Scope Exceptions
    3. Overview
    4. Practice Alerts
  2. Definitions of Terms
  3. Concepts, Rules, and Examples
    1. Form of the Statement of Financial Position
      1. Entity's Name
      2. Date
      3. Consistency of Format
    2. ASC 205-10, Overall
      1. Current Assets
      2. Noncurrent Assets
    3. Liabilities
      1. Current Liabilities
      2. Noncurrent Liabilities
    4. Presentation
      1. Example: Statement of Financial Position – Highly Aggregated
      2. Example: Statement of Financial Position – Highly Detailed
    5. ASC 210-20, Offsetting
      1. Bankruptcy
      2. Taxes Payable
      3. Repurchase Agreements
      4. Disclosures
    6. Sample Disclosure – Netting of certain balance Sheet Accounts

Perspective and Issues


ASC 210, Balance Sheets, is divided into two Subtopics:

  • ASC 210-10, Overall, which focuses on the presentation of the balance sheet, particularly the operating cycle and current assets and liabilities, and
  • ASC 210-20, Offsetting, which offers guidance on offsetting amounts for certain contracts and repurchase agreements accounted for as collateralize borrowings and reverse repurchase agreements accounted for as collateralize borrowings.

Scope and Scope Exceptions

The guidance in ASC 210-20 does not apply to:

The derecognition or nonrecognition of assets and liabilities. Derecognition by sale of an asset or extinguishment of a liability results in removal of a recognized asset or liability and generally results in the recognition of gain or loss. Although conceptually different, offsetting that results in ...

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