FASB Codification Guide-2

Section 35 subsequent measurement addresses the

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Unformatted text preview: teria, timing, and location (within the financial statements) for recognizing a particular item. Section 30, Initial Measurement, addresses the criteria and amounts used to measure a particular item at the date of initial recognition. In many cases, this Section may be empty because the initial standards did not include initial measurement. Section 35, Subsequent Measurement, addresses the criteria and amounts used to measure a particular asset, liability, or equity item after to the date of recognition. Section 40, Derecognition, addresses the criteria, the method to determine the amount of basis, and the timing to be used when derecognizing a particular asset, liability, or equity item for purposes of determining gain or loss, if any. Section 45, Other Presentation Matters, contains specific guidance on presenting items in the financial statements. Section 50, Disclosure, describes the specific disclosure requirements for items within the scope of the Subtopic. Lesson 3: Working with Section-Level Content 24 Section 55, Implementation Guidance and Illustrations, contains implementation guidance and illustrations, which are an integral part of the standards in the Subtopic. Section 60, Relationships, includes references to other Subtopics that may contain guidance related to the Subtopic. Section 65, Transition and Open Effective Date Information, contains references to paragraphs within the Subtopic that have open transition guidance. Details of working with pending content and Transition and Open Effective Date Information Sections are provided in Lesson 7. Section 70, Grandfathered Guidance, contains descriptions, references, and transition periods for content grandfathered after July 1, 2009, by an Accounting Standards Update (ASU). Section 75, XBRL Elements, contains the XBRL elements that are linked to the guidance in the Subtopic. Details of working with XBRL Elements Sections are provided in Lesson 16. SUMMARY: To Identify Relevant Sections: In the System, navigate to the page of a relevant Subtopic (you can use either the technique you learned in Lesson 1 or the technique in Lesson 2). Review the Sections listed in the ―Table of Contents‖ outline near the top of the Subtopic’s page, noting which...
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