FASB Codification Guide-2

In the system pending content within sections other

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Unformatted text preview: esson 10. In many cases, a standard setter will prescribe how reporting entities must make the transition from implementing prior Codification content to implementing updated content. Such transition guidance is included in the Codification and typically prescribes special accounting and/or reporting provisions concerning the transition. Given different fiscal year-ends, the ―Pending Content‖ boxes must remain in the system for a period of time sufficient for all entities to obtain the authoritative guidance that applies to their circumstances. After that period of time, the original content is removed and the pending content no longer appears as pending. This is known as ―rolling off.‖ When updated content is no longer treated as pending, it becomes the new current content, and any content that is superseded as a result of the update is archived within the System (as explained in Lesson 8). For each Codification Section other than Sections 20 and 75, the current content and pending content will both appear wherever paragraph-level content is displayed (for example, on the DOCUMENT tab of individual Section pages in the System). Pending content within Glossary Sections is explained in Lesson 9. Pending content is identified as such within the text of the Codification. In the System, pending content within Sections other than Sections 20 and 75 is displayed at the paragraph level in a box having a blue ―Pending Content‖ header as shown in this example: Observe the ―Transition Date‖ and ―Transition Guidance‖ citation in the ―Pending Content‖ box. Lesson 7: Working with Pending Content 72 XBRL Elements Sections To date, pending content has not been included in XBRL Elements Sections. Look Now ACCESSING TRANSITION GUIDANCE Each ―Pending Content‖ box in the System contains a link to the applicable transition guidance. The link can be found near the top of the ―Pending Content‖ box (see the illustration above). The text of the link is the numeric c...
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This note was uploaded on 03/27/2014 for the course ECON 12586 taught by Professor Yorambarzel during the Fall '09 term at University of Washington.

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