Accounting for Servicing of Financial Assets SFAS 166 amended SFAS 140 in June 2009 SFAS 156 amended SFAS 140 in March 2006 SFAS 140 replaced
Category: U.S. GAAP by Topic
Accounting for Servicing of Financial Assets SFAS 156 amended SFAS 140 in March 2006 SFAS 140 replaced SFAS 125 in September 2000 SFAS 156, March
Subsequent Events Statement of Financial Accounting Standards No. 165, May 2009 “Subsequent Events” Events occurred after (a), before (b) (a) balance sheet date (b) date
Stock Dividends, Stock Splits 1. Issuance of new common shares –> to the existing shareholders 2. Without consideration –> Recipients do not pay for new
Treasury Stock Entity’s own outstanding shares –> repurchased by the entity Presentation of treasury stock Cost of treasury stock is not reported as an asset
Foreign Currency Transactions and Translation SFAS 52, December 1981 “Foreign Currency Translation” Functional currency 1. Functional currency –> the currency of the primary economic environment