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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

33ASC 460 GUARANTEES

PERSPECTIVE AND ISSUES

Subtopic

ASC 460, Guarantees, consists of one subtopic:

  • ASC 460-10, Overall, which provides requirements to be met by a guarantor for certain guarantees issued and outstanding.

ASC 460-10 has two subsections:

  1. General, which discusses the guarantor’s recognition and disclosure of a liability at the inception of a guarantee
  2. Product Warranties

Additional sources of guidance are listed in the “Other Sources” section at the end of this chapter.

Scope and Scope Exceptions

ASC 460 applies to all entities. ASC 460 applies to guarantee contracts that contingently require the guarantor to make payments (either in cash, financial instruments, shares of its stock, other assets, or in services) to the guaranteed party based on any of the following ...

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Publisher Resources

ISBN: 9781119652625