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Wiley GAAP 2020
book

Wiley GAAP 2020

by Joanne M. Flood
February 2020
Intermediate to advanced content levelIntermediate to advanced
1456 pages
52h 54m
English
Wiley
Content preview from Wiley GAAP 2020

3ASC 210 BALANCE SHEET

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. Derecognition by sale of an asset or extinguishment of a liability ...

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Publisher Resources

ISBN: 9781119652625