Wiley GAAP 2019

41ASC 710 COMPENSATION— GENERAL

PERSPECTIVE AND ISSUES

Subtopics

ASC 710, Compensation—General, contains one subtopic:

ASC 710-10, Overall, which is divided into two subsections:

• General, which provides guidance on compensated absences, deferred compensation, and lump-sum payments under union contract
• Deferred Compensation—Rabbi Trusts

Scope and Scope Exceptions

ASC 710 applies to all entities, but it does not apply to the following transactions:

• Benefits paid to active employees other than compensated absences.
• Benefits paid at retirement or provided through a pension or postretirement benefit plan including special or contractual termination benefits payable upon termination from a pension or other postretirement plan are covered by Subtopics 715-30 and 715-60.
• Individual deferred compensation contracts that are addressed by Subtopics 715-30 and 715-60, if those contracts, taken together, are equivalent to a defined benefit pension plan or a defined benefit other postretirement benefit plan, respectively.
• Special or contractual termination benefits that are not payable from a pension or other postretirement plan are covered by Topic 712.
• Stock compensation plans that are addressed by Topic 718.

• Other postemployment benefits (see Topic 712) that do not meet the conditions in paragraph 710-10-25-1 and are accounted for in accordance with Topic 450.

  (ASC 710-10-15-5)

In addition, the Deferred Compensation—Rabbi Trusts subsection does not address the accounting for stock ...