– In respect of IFRS, references in square brackets identify any relevant paragraphs of the standards or other literature – e.g. ASC 730-20 does not provide guidance on the income statement classification for funding accounted for as an obligation to perform contractual services for others. PwC’s extensive library of insights and technical guidance on the latest financial reporting, regulatory and accounting hot topics for CFOs and financial executives. See the 2017 edition of this Roadmap for guidance on share-based payment awards after an entity’s adoption of those ASUs. This Roadmap combines the share-based payment accounting rules from ASC 718 (for employee awards), ASC 505 (for nonemployee awards), and other topics (such as ASC 740 and ASC 805) with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. ���}���e��Xp���;�Aj�l �8��Kb��[Y��w��ō�G�. Accounting Standards Codification, ASC, Overview : ASC Codification Topic 705: Cost of Sales and Services : ASC Codification Topic 710: Compensation-General: ASC Codification Topic 712: Compensation-Nonretirement Postemployment Benefits: ASC Codification Topic 715: Compensation-Retirement Benefits ASC 710-10 notes that it “provides guidance on general compensation-related matters” that are not included within the other compensation Topics: 712 Compensation — Nonretirement Postemployment Benefits. model, ASC 710 or ASC 718. 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. PwC's in-depth accounting guidance for topics of significant interest. Menu . %PDF-1.6 %���� The term authoritative includes all level AD GAAP that has been issued by a standard setter. As a result of the COVID-19 pandemic, there may be various accounting and financial reporting considerations specific to the application of the US GAAP and IFRS lease accounting requirements, including those introduced by the FASB’s new lease accounting standard (ASC … Clear Search . GAAP, U.S. GAAP, FASB, AICPA, Generally Accepted Accounting Principles in the United States 718 Compensation — Stock Compensation. Chapter 38ASC 710 Compensation—General PERSPECTIVE AND ISSUES Subtopics Scope and Scope Exceptions DEFINITIONS OF TERMS CONCEPTS, RULES, AND EXAMPLES Compensated Absences Bonus Payments Deferred Compensation Contracts Deferred Compensation – … - Selection from Wiley GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015 [Book] Search for more papers by this author. Subscribe to receive Roadmap series publications via e-mail. It applies only to periods before an entity’s adoption of the guidance in FASB Accounting Standards Update (ASU) Nos. *�\��(���Z���#V�l�>1��r�n0{��I4�*j�{"�&�P�J������zX���"8�V+��1��L�w��o\3�.G�ˁE�C G# �v��rÅ�pY]8�̲li�0�Wl�[w�'%�c���I>�n׽�l� (���_���gELmg���������B�Q������D,{&'��L��\G��w�Q�~�,��o�N��pN&0������H����Ɂ�{ѭ7�}�N The Roadmap series contains comprehensive, easy-to-understand accounting guides on selected topics of broad interest to the financial reporting community. An Amendment of the FASB Accounting Standards Codification® No. ASC 712 applies the criteria set forth by ASC 710, Compensation—General, to accrue an obligation for postemployment benefits other than pensions. 1238 0 obj <>stream 7 Stock compensation plans are specifically addressed by ASC 718 (or ASC 505-50 8 if issued to non-employees). 1. 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. Articles: 2016.11.03 "Accounting for Profits Interests in LLCs" (Plante Moran Alert), stating generally that "Under U.S. GAAP, profits interests may be classified as share-based payments, profit-sharing, a bonus arrangement, or deferred compensation.The classification is determined by the specific terms and features of the profits interest. Codification Topic 450 Contingencies : Subtopics of Codification Topic 450 450-10 Overall 450-20 Loss contingencies 450-30 Gain contingencies a �mк�� This Roadmap provides Deloitte’s insights into and interpretations of the guidance on share-based payment arrangements in ASC 718 (employee awards) and ASC 505-50 (nonemployee awards) as well as in other literature (e.g., ASC 260 and ASC 805). In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. • ASC 710-Compensation-General • ASC 712-Nonretirement Postemployment Benefits • ASC 715-Compensation-Retirement Benefits • ASC 718-Compensation-Stock Compensation (Equity & Liability) Accounting for Deferred Compensation Plans: Equity or Liability Classification Discover Deloitte and learn more about our people and culture. Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. ASC 710 Compensation—General. ASC 715-30-35-24 describes the minimum amount of such gains and losses that must be recognized each year (commonly referred to as the "corridor approach") as follows: 715 Compensation — Retirement Benefits. The scope of ASC 710-10 includes performance bonus, profit sharing, and specific deferred compensation contracts, 6 but excludes stock compensation plans. This Roadmap provides Deloitte’s insights into and interpretations of the guidance on share-based payment arrangements in ASC 718 (employee awards) and ASC 505-50 (nonemployee awards) as well as in other literature (e.g., ASC 260 and ASC 805). The FASB Accounting Standards Codification simplifies user access to all authoritative U.S. generally accepted accounting principles (GAAP) by providing all the authoritative literature related to a particular Topic in one place. Overview Accounting Standards Codification® (ASC) 718, Compensation – Stock Compensation, comprises codified guidance on accounting for employee share-based arrangements and originates primarily from the guidance in Statement 123(R), Share-Based Payment, issued in 2004.ASC … 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. Under ASC 715-30-35-23, the "amount recognized in accumulated [OCI] affects future net periodic pension cost through subsequent amortization . Please enable JavaScript to view the site. This ASU created ASC 842, Leases, which will supersede ASC 840, Leases. If the benefit meets the This Roadmap includes six appendixes, including one on the accounting for share-based payment awards under IFRSs. Complexity: The interaction between ASC 710 and ASC 712 can be overly complicated. Profits Interests - Accounting Expense. Standards Codification (FASB ASC or Codification) as follows. See Terms of Use for more information. Social login not available on Microsoft Edge browser at this time. Wiley Gaap 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015 Joanne M Flood. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. ��6�@�9���D7� �Qr]�M��#ML|���# |8 $I�?��?T�H�k(�H�x�l?l|��\PK;~�N|}ʤ��+����M?� X'�p����W��L�*�F���E�|6��sn�����J�L3���{�k�. Quick Links . © 2020. 2017-07 March 2017 Compensation—Retirement Benefits (Topic 715) Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost 2016-09, Improvements to Employee Share-Based Payment Accounting, and 2017-09, Scope of Modification Accounting. �U����ˤv���������ci�L�x���? Ernst & Young LLP professionals are prepared to help you identify and understand the … )ok��Gq��eoQ� (gA�q���`x�;�PRr�CÍ� Hb� ���:�.�H��H����N Ly�U Deloitte’s “Heads Up” discusses accounting and financial reporting considerations related to the eurozone’s economic conditions, including those pertaining to financial instruments, income tax and SEC reporting and disclosures. ASU 2016-02 also amends ASC 420 to exclude costs to terminate a lease from the scope of ASC 420. Certain services may not be available to attest clients under the rules and regulations of public accounting. For inquiries and feedback please contact our AccountingLink mailbox. Archives are available on the Deloitte Accounting Research Tool website. 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. Deloitte provides insights concerning legacy US GAAP revenue recognition standards and new revenue recognition criteria—ASC 606, ASC 610-20, and ASC 340-40. DTTL (also referred to as "Deloitte Global") does not provide services to clients. . . DTTL and each of its member firms are legally separate and independent entities. Telecommunications, Media & Entertainment. For example, if the postemployment benefit is not a special termination benefit or a contractual termination benefit, ASC 712 directs you to the criteria in ASC 710-10-25-1 (the FAS 43 criteria for compensated absences). Since U.S. GAAP does not provide explicit guidance on how A podcast by our professionals who share a sneak peek at life inside Deloitte. ASC 808 provides guidance on classification of payments for transactions between collaboration partners, and ASC 605-45 provides guidance on gross versus net presentation of revenue. A roadmap to accounting for share-based payment awards (2015) has been saved, A roadmap to accounting for share-based payment awards (2015) has been removed, An Article Titled A roadmap to accounting for share-based payment awards (2015) already exists in Saved items. Please see www.deloitte.com/about to learn more about our global network of member firms. Overview. of the net gain or loss." COVID-19’s impact on lease accounting. Depending on certain factors, profits interests may be accounted for as stock compensation under ASC Topic 718 or bonus or profit-sharing compensation under ASC Subtopic 710 … Deloitte Accounting Research Tool. This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance in ASC 4501 on loss contingencies, gain contingencies, and loss recoveries. Our FRD publication on share-based payment has been updated to reflect ASU 2019-08, Share-Based Consideration Payable to a Customer, and ASU 2020-06, Contracts in Entity’s Own Equity (Subtopic 815-40).See Appendix F for a summary of the updates. Archives are available on the income statement classification for funding accounted for as an obligation for postemployment other... Not available on the income statement classification for funding accounted for as an for. Deloitte Accounting Research Tool website Young LLP professionals are prepared to help you identify and understand …. 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