Wiley GAAP: Financial Statement Disclosure Manual

23ASC 340 OTHER ASSETS AND DEFERRED COSTS

1. Authoritative Literature
   1. Subtopics
   2. Scope and Scope Exceptions
      1. ASC 340‐10
      2. ASC 340‐30
      3. ASC 340‐40
   3. ASC 340‐10, Overall
      1. Preproduction Costs Related to Long‐Term Supply Arrangements
   4. ASC 340‐30, Insurance Contracts That Do Not Transfer Insurance Risk
   5. ASC 340‐40, Contracts with Customers
      1. Incremental Costs of Obtaining a Contract
      2. Costs of Fulfilling a Contract
2. Practice Alert
3. Presentation and Disclosure Requirements
   1. Presentation
      1. Prepaid Expenses
   2. Disclosures
      1. Insurance Contracts That Do Not Transfer Insurance Risk
      2. Disclosures
      3. Disclosures
      4. Practical Expedients
4. Presentation and Disclosure Examples
   1. Example 23.1: Accounting Policy—Use of Deposit Accounting for Insurance Contracts
   2. Example 23.2: Accounting Policy—Deferred Sales Commissions
   3. Example 23.3: Accounting Policy—Costs Incurred to Obtain a Contract and the Use of the Practical Expedient

AUTHORITATIVE LITERATURE

Subtopics

ASC 340, Other Assets and Deferred Costs, contains four Subtopics:

• ASC 340‐10, Overall, which provides guidance on certain deferred costs and prepaid expenses.
• ASC 340‐30, Insurance Contracts That Do Not Transfer Insurance Risk, which provides guidance on how to apply the deposit method of accounting when it is required for insurance and reinsurance contracts that do not transfer risk.
• ASC 340‐40, Contracts with Customers, provides guidance on costs incurred related to a contract with a customer. It also covers amortization of assets arising from costs to ...