Wiley GAAP: Financial Statement Disclosure Manual

40ASC 710 COMPENSATION— GENERAL

1. Authoritative Literature
   1. Subtopics
   2. Scope and Scope Exceptions
   3. Compensated Absences
      1. Sick Pay
   4. Bonus Payments
   5. Deferred Compensation Contracts
   6. Lump‐Sum Payments Under Union Contracts
   7. Deferred Compensation—Rabbi Trusts
2. Presentation and Disclosure Requirements
   1. Presentation
   2. Disclosure
3. Presentation and Disclosure Examples
   1. Example 40.1: Nonqualified Deferred Compensation Plans
   2. Example 40.2: Deferred Compensation—Rabbi Trust—Plan A
   3. Example 40.3: Deferred Compensation—Rabbi Trust—Plan B
   4. Example 40.4: Nonqualified Deferred Compensation—Accounting and Schedule
   5. Example 40.5: Rabbi Trust Asset
   6. Example 40.6: Compensated Absences—Inability to Estimate

AUTHORITATIVE LITERATURE

Subtopics

ASC 710, Compensation—General, contains one Subtopic:

• ASC 710‐10, Overall, which is divided into two Subsections:
  • General, which provides guidance on compensated absences, deferred compensation, and lump‐sum payments under union contract
  • Deferred Compensation—Rabbi Trusts

Scope and Scope Exceptions

ASC 710 applies to all entities, but it does not apply to the following transactions:

• Benefits paid to active employees other than compensated absences.
• Benefits paid at retirement or provided through a pension or postretirement benefit plan, including special or contractual termination benefits payable upon termination from a pension or other postretirement plan, that are covered by Subtopics 715‐30 and 715‐60.
• Individual deferred compensation contracts that are ...