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 con‐ tracts 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:
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