Lower of Cost or Market (LCM) 1. At the end of each period, inventory is measured at the lower of … More
Category: U.S. GAAP by Topic
Property, Plant and Equipment, ASC 360
Initial measurement of property, plant and equipment 1. Measured at cost 2. Cost includes (A) (A) all costs necessary to … More
Real Estate Sales, ASC 360
Real Estate Sales SFAS 66, October 1982 “Accounting for Sales of Real Estates” FASB Interpretation (FIN) 43, June 1999 “Real … More
Intangibles Other than Goodwill, ASC 350
Intangible Assets –> Type 1: Intangible assets with “finite” useful life –> Type 2: Intangible assets with “indefinite” useful life … More
Derivatives and Hedging, ASC 815
Derivatives and Hedging SFAS 133, June 1988 “Accounting for Derivative Instruments and Hedging Activities” Derivatives 1. Derivative instruments are recognized … More
Research and Development Arrangements, ASC 730
Research and Development Arrangements SFAS 68, October 1982 “Research and Development Arrangements” Research and development arrangements Research and development is … More