Under ASC 320-10-35-16, the $8 million discount is accreted to interest income over the remaining life of the security. For titles of . Other associated costs, including costs to consolidate or close facilities and relocate employees. Refer to ASC 410, 420 and 450 and IAS 37 for all of the specific requirements applicable to accounting for contingencies and provisions. 420-10-15 Scope — Deloitte Q&As 420-10-25 Recognition — Deloitte Q&As 420-10-30 Initial Measurement — Deloitte Q&As 420-10-35 Subsequent Measurement — Deloitte Q&As 420-10-40 Derecognition — Deloitte Q&As 420-10-45 Other Presentation — Deloitte Q&As 420-10-50 Disclosure — Deloitte Q&As ASC 225-20-45-16 states a material event or transaction that an entity considers unusual, infrequent or both is reported as a separate component of income from continuing operations. This right-of-use asset is subject to the same asset impairment guidance in ASC 360, Property, Plant, and Equipment, that is applied to other property, plant, and equipment. ASC 360 requires that entities group long-lived assets to be held and used for impairment testing at the lowest level of separately identifiable cash flows (see definition of asset group in ASC 360). Ernst & Young LLP professionals are prepared to help you identify and understand the … incurred (ASC 420, ASC 712, and ASC 715)? Facts: FASB ASC paragraph 320-10-35-33 (Investments—Debt and Equity Securities Topic) does not define the phrase “other than temporary” for available-for-sale equity securities. For titles of . Please provide the following information to create your account. For its available-for-sale equity securities, Company A has interpreted “other than temporary” to mean permanent impairment. To the clients, friends, and people of Deloitte: We are pleased to present the inaugural edition of A Roadmap to Accounting for Contingencies and Loss Recoveries. In addition, refer to our U.S. GAAP vs. IFRS comparisons series for more comparisons highlighting other significant differences ASC 710‐10, Overall, provides guidance on compensated absences, deferred compensation, and lump‐sum payments under union contract; and on deferred compensation, Rabbi Trusts.In addition, the Deferred Compensation‐Rabbi Trusts Subsection does not address the accounting for stock appreciation rights even if they are funded through a rabbi trust. If the long-lived asset group is not deemed recoverable, the entity must write down the asset group to its fair value (see ASC 36010- -35-17). 1 See Deloitte’s February 26, 2010, Heads Up newsletter for additional information about the SEC’s work plan. ASC 712 provides guidance for employers that provide benefits for former or inactive employees after the employees' termination. Required fields are marked with a *.Passwords must be at least 8 characters in length, cannot be the same as your username, and must contain at least 1 lowercase, 1 uppercase, 1 special, and 1 digit character. You must log in{"id":"id-71fe0853-d62f-42bb-98e7-a1b7b8c113d7","action":"login-q3j74v"} to view this content and have a subscription package that includes this content. This ASU created ASC 842, Leases, which will supersede ASC 840, Leases. Latest edition: KPMG in-depth guide to impairment testing, covering the models in ASC 350-20, ASC 350-30 and ASC 360. As indicated in paragraph 420-10-15-6, this Topic does not change the accounting for termination benefits covered by the following Topics and Subtopics: Copyright © 2020 Deloitte Development LLC. These benefits may include counseling, pay continuation, and continuation of health care benefits. FASB Please describe to us in more detail these employee severance costs, and explain in more detail how you determined that these costs fall into the scope of ASC 712 instead of the scope of ASC 420. ASU 2016-02 also amends ASC 420 to exclude costs to terminate a lease from the scope of ASC 420. Handbook: Share-based payments December 08, 2020 7. There are no scope exceptions in ASC 480-10 or ASC 815-40 for stock purchase warrants to which ASC 470-20-25-2 or 25-3 applies. DTTL does not provide services to clients. This right-of-use asset is subject to the same asset impairment guidance in ASC 360, Property, Plant, and Equipment, that is applied to other property, plant, and equipment. An exit activity includes but is not limited to a restructuring.". Touche Ross Sebagian besar the Big 8 merupakan aliansi antara firma yang berasal dari British dan US pada abad ke-19 atau awal abad ke-20. Peat Marwick Mitchell (yang kemudian berubah menjadi Peat Marwick) 7. Additionally, upon adoption of the new standard, companies will cease applying ASC 420, Exit and Disposal costs, to lease arrangements. This Topic "addresses financial accounting and reporting for costs associated with exit or disposal activities. This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance in ASC 450 1 on loss contingencies, gain contingencies, and loss recoveries. Copyright © 2020 Deloitte Development LLC. In addition, the 2020 edition of this publication contains a new chapter on the accounting guidance in ASC 460 on guarantees. Refer to Appendix A of the publication for a summary of the updates. The term authoritative includes all level AD GAAP that has been issued by a standard setter. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities. 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