Wiley GAAP 2018, 16th Edition

3ASC 210 Balance Sheet

1. Perspective and Issues
   1. Subtopics
   2. Scope and Scope Exceptions
      1. ASC 210-10
      2. ASC 210-20
      3. Disclosures
   3. Overview
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
   5. Example: Statement of financial position––highly aggregated
   6. Example: Statement of financial position––highly detailed
   7. ASC 210-20, Offsetting
      1. Bankruptcy
      2. Taxes Payable
      3. Repurchase and Reverse Repurchase Agreements
      4. Disclosures
   8. Other Sources

Perspective and Issues

Subtopics

ASC 210, Balance Sheet, is divided into two subtopics:

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

Scope and Scope Exceptions

ASC 210-10

The guidance in ASC 210-10 applies to all entities. However, the guidance related to classification of current assets and current liabilities does not apply if the entity does not present a classified balance sheet.

ASC 210-20

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

The derecognition or nonrecognition of assets and liabilities. ...