March 2010 . Deloitte & Touche LLP . Summary. With more than 2,600 employees across our three facilities in South Australia and Western Australia, ASC has evolved into Australia’s largest specialised defence shipbuilding organisation, with naval design and engineering resources unparalleled within Australia’s defence industry. The third edition of "A Roadmap to Accounting for Share-Based Payment Awards" provides Deloitte’s insights into and interpretations of the accounting guidance for share-based payment awards, primarily that in ASC 718 and ASC 505-50. This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance under the new revenue standard as codified in ASC 606, ASC 340-40, and ASC 610-20. In 2019, the latest FASB standard on lease accounting, ASC 842 (ASU 2018-11), went into effect for most public companies. Read more about: Cash ; Financial accounting and reporting; March 25, 2016, 12:01 am. Jonathan Howard . The income statement accounting treatment for the two types of leases does not substantially change from ASC 840. 695 East Main Street P.O. A Roadmap to Applying the New Revenue Recognition Standard 2016 The … Recognition of a lease asset, and the interaction with impairment and legacy exit cost guidance, creates unique application considerations at transition. Asc 740 Basic Training. This Roadmap combines the requirements in ASC 842 with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. Legal structure. Targeted change to VIE primary beneficiary test … Finance leases are substantially the same as capital leases under ASC 840. * For the full forms of acronyms, see Appendix C in the full Roadmap. Follow us on Twitter @deloittecfo This … Codification Topic 420 Exit or Disposal Cost Obligations Exit or Disposal Cost Obligations SFAS 146, June 2002 "Accounting for Costs Associated with Exit or Disposal Activities" Exit or disposal cost obligations 1. Get your annual revenue recognition update here! The new standard, ASC 842, still classifies leases into two groups: operating leases and finance leases. Asc 740 Seminar . In addition, the Roadmap highlights (1) the requirements of ASC 842 that significantly differ from those in ASC 840 and IFRS 16 and (2) recent standard-setting developments (through the May 20, 2020, FASB meeting). KPMG reports on a proposed ASU for ASC 810. Other entities, including private companies, were granted a later adoption date, which has now been extended to years beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. The amendments clarify the consolidation guidance for NFPs (ASC 958-810). Costs to close facilities and relocate employees 3. Appendix A — Proposed Technical Corrections . This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance on reporting discontinued operations in ASC 205-20. Costs to terminate a contract other than a capital lease 2. Read the full “A Roadmap to the Preparation of the Statement of Cash Flows” which provides details on the principles from ASC 230 as well as Deloitte’s interpretations and examples. Included in the publication are 12 chapters and six appendices with topics ranging from recognition and initial measurement to disclosures and business combinations. Il nous fait plaisir de présenter le premier numéro de la série A Roadmap to Applying the New Leasing Standard. Stay informed of the most recent developments in Accounting for Income Taxes (ASC 740) on PwC's CFOdirect. PwC’s Leases guide is a comprehensive resource for lessees and lessors to account for leases under the new leases standard (ASC 842). Applicability. The 2020 edition includes new guidance and examples that reflect recent standard … This Roadmap provides Deloitte’s insights into and interpretations of the guidance in ASC 805 on business combinations, pushdown accounting, common-control transactions, and asset acquisitions as well as an overview of related SEC reporting requirements. Derecognize the remaining ASC 420 balance at transition through an adjustment to equity, or; Carry the remaining ASC 420 balance forward. This Roadmap provides Deloitte’s insights into and interpretations of the guidance in ASC 606 on revenue from contracts with customers, the cost guidance in ASC 340-40, and the guidance in ASC 610-20 on gains and losses on transfers of nonfinancial and in-substance nonfinancial assets to noncustomers. View Deloitte ASC 606 Roadmap.pdf from ACCTG masters at Golden Gate University. In addition, the 2020 edition of this publication contains a new chapter on the accounting guidance in ASC 460 on guarantees. FASB proposes to provide a private company alternative and make targeted improvements to the related party guidance for VIEs. The FASB’s new model, codified in ASC 606, Revenue from contracts with customers, applies to a company's contracts with customers, except for contracts that are within the scope of other standards (e.g., leases, insurance, financial instruments). Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities. The body of this Roadmap combines the principles from ASC 205-20 with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. 1A. Read more about: Financial Accounting & Reporting; April 1, 2016, 12:01 am. Best practices continue to evolve and there are a number of … This Roadmap provides Deloitte’s insights into and interpretations of the guidance on accounting for an acquisition of an asset, or a group of assets, that does not meet the U.S. GAAP definition of a business in ASC 805-10. Asc 740 Training 2019 . Deloitte Accounting Research Tool. Read the full “A Roadmap to the Preparation of the Statement of Cash Flows” which provides details on the principles from ASC 230 as well as Deloitte’s interpretations and examples. However, companies must report all leases longer than 12 months in length on the balance sheet. DTTL (also referred to as "Deloitte Global") and each of its member firms are legally separate and independent entities. Otg oneplus 5t . DTTL does not … Dublin, Dec. 23, 2020 (GLOBE NEWSWIRE) -- The "Revenue Recognition Accounting Update (ASC 606)" conference has been added to ResearchAndMarkets.com's offering. This guide was fully updated in … The proposal also would eliminate some of the conditions that must be met for equity classification under ASC 815-40-25. This complexity creates accounting issues regarding how these financial instruments are classified, measured and presented in financial statements. 2 . Tax Accounting Training. FASB ASC 606-10-25-1(e) and 606-10-55-3(a) through 55-3(c) One of the required criteria in FASB ASC 606-10-25-1 is that it be probable that the entity will collect substantially all of the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer to be Clear ... -Lived Assets and Discontinued Operations Income Taxes Initial Public Offerings Leases Multiple-Element Arrangements — A Roadmap to Applying the Revenue Recognition Guidance in ASU 2009-13 Noncontrolling Interests Non-GAAP Financial Measures and Metrics Qualitative Goodwill Impairment Assessment — A Roadmap to Applying the Guidance in ASU … Accounting For Income Taxes Training. This publication is provided as an information service by the Accounting Standards and Communications Group of Deloitte & Touche LLP. FASB restores NFP general partners’ control presumption January 02, 2017. ASC exists to serve the frontline of Australia’s naval defence capabilities. Il présente les exigences de l’ASC 842 accompagnées des interprétations et d’exemples de Deloitte dans un format facile à consulter et exhaustif. A Roadmap to Applying the Variable . ASC 420 applies to termination benefits provided to current employees that are involuntarily terminated under the terms of a benefit arrangement that applies to a specified termination event or for a specified future period. GAAP 2016 Interpretation and Application of Generally Accepted Accounting Principles . One-time employee termination benefits Initial measurement 1. cc: Bob Uhl . * For the full forms of acronyms, see Appendix C in the full Roadmap. Interest Entities Consolidation Model. Asc … This Handbook uses Q&As and examples to simplify the complexities of accounting for these financial instruments in the scope of ASC 405, ASC 470, ASC 480, ASC 505 and ASC 815. It does not address all possible fact patterns and the guidance is subject to change. requiring bifurcation under ASC 815-15 would be accounted for separately. SAP Road Maps communicate the solution and product direction so you can optimize business value and the return on your IT investment. ASC 712 applies the criteria set forth by ASC 710, Compensation‐General, to accrue an obligation for postemployment benefits other than pensions if: services have been performed by employees, employees' rights accumulate or vest, payment is probable, and the amount can be reasonably estimable. This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance in ASC 450 on loss contingencies, gain contingencies, and loss recoveries. Refer to Appendix A of the publication for a summary of the updates. 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