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Wiley GAAP 2021, 2nd Edition
book

Wiley GAAP 2021, 2nd Edition

by Joanne M. Flood
March 2021
Intermediate to advanced content levelIntermediate to advanced
1424 pages
51h 16m
English
Wiley
Content preview from Wiley GAAP 2021, 2nd Edition

54ASC 835 INTEREST

  1. Perspective and Issues
    1. Subtopics
    2. Scope and Scope Exceptions
    3. Overview
  2. Definitions of Terms
  3. Concepts, Rules, and Examples
    1. ASC 835‐20, Capitalization of Interest
      1. Interest Cost
      2. Capitalization Interest Rate
      3. Capitalizable Base
      4. Example of Accounting for Capitalized Interest Costs
      5. Determining the Time Period for Interest Capitalization
      6. Capitalization of Interest Costs Incurred on Tax‐Exempt Borrowings
      7. Summary of Interest Capitalization Requirements
    2. ASC 835‐30, Imputation of Interest
      1. Receivables
      2. Note Issued Solely for Cash
      3. Note Issued for Cash and Rights or Privileges
      4. Example of Accounting for a Note Issued for Both Cash and a Contractual Right—Accounting by Issuer
      5. Note Issued in Exchange for Property, Goods, or Services
      6. Example of Accounting for a Note Issued for Both Cash and a Contractual Right—Accounting by Debtor and Issuer
      7. Example of Accounting for a Note Exchanged for Goods
      8. Example of Accounting for a Note Exchanged for Property
      9. Example of Accounting for a Note Exchanged to Property
      10. Bonds Issued for Cash
      11. Example of Bonds Issued for Cash
      12. Summary—ASC 835‐30
      13. Sales of Future Revenue
    3. Effective Interest Method
      1. Example of Applying the Effective Interest Method
      2. Example of Note Issued between Payment Dates
    4. Debt Issuance Costs
      1. Consistency

PERSPECTIVE AND ISSUES

Subtopics

ASC 835, Interest, contains three Subtopics:

  • ASC 835‐10, Overall, which merely points to other topics with guidance on interest
  • ASC 835‐20, Capitalization of Interest, which provides ...
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Publisher Resources

ISBN: 9781119736172