Accountant Town

The ASC, or the Accounting Standards Codification, is a classification system implemented by the FASB to help better organize multiple formats of accounting standards which have been released.  While the standards at implementation remain the same as those pre-codification, new references will be needed in order to point to the same information.  As these standards are updated, the ASC numbers will stay the same, however the old APB, SFAS, etc. references will change.  Check out some of the ones we have compiled below:

General

FASB ASC 105 – Generally Accepted Accounting Principles

Contingencies

FASB ASC 450 – Contingencies for Gain and Loss

Compensation

FASB ASC 715 – Retirement Compensation

FASB ASC 718 – Stock Based Compensation

Income Taxes

FASB ASC 740 – Discusses uncertainty in income tax deductions

FASB ASC 805 – Deferred tax asset and liability recognition in business combinations

Transactions

FASB ASC 310 – Receivables

FASB ASC 605 – Revenue Recognition

FASB ASC 810 – Consolidation

FASB ASC 815 – Derivatives and Hedging transactions

FASB ASC 820 – Also known as SFAS 157, discusses fair value measurements

FASB ASC 825 – Discusses a broad class of transactions and how fair value relates to them

FASB ASC 830 – Foreign currency translation and transactions

FASB ASC 855 – Subsequent Events

FASB ASC 860 – Transfers and servicing

Leases

FASB ASC 840 – Includes information from SFAS 13 and discusses treatment of capital and operating leases.

Prepaid Items

FASB ASC 340 – Other Assets and Deferred Costs

Industry Guides

FASB ASC 905 – Agriculture

FASB ASC 908 – Airlines

FASB ASC 910 Contractors – Construction

FASB ASC 912 Contractors – Government

FASB ASC 915 Development Stage Entities

FASB ASC 920 Entertainment – Broadcasters

FASB ASC 922 Entertainment – Cable TV

FASB ASC 924 Entertainment – Casinos

FASB ASC 926 Entertainment – Films

FASB ASC 928 Entertainment – Music

FASB ASC 930 – Mining

FASB ASC 932 – Oil and Gas Extraction

FASB ASC 940 – Financial Services – Brokers and Dealers

FASB ASC 942 – Financial Services – Depository and Lending

FASB ASC 944 – Financial Services – Insurance

FASB ASC 946 – Financial Services – Investment Companies

FASB ASC 948 Financial Services – Mortgage Banking

FASB ASC 950 – Title Plant

FASB ASC 952 – Franchises

FASB ASC 954 – Health Care Entities

FASB ASC 956 – Limited Liability Entities

FASC ASC 958 – Not for profit entities

FASB ASC 960 – Defined benefit pension plans

FASB ASC 962 – Defined contribution pension plans

FASB ASC 965 – Health and Welfare benefit plans

FASB ASC 972 Real Estate – Common Interest Realty Associations

FASB ASC 974 – Real Estate Investment Trusts

FASB ASC 978 – Real Estate – Time Shares

FASB ASC 970 – Real Estate – General

FASB ASC 976 – Real Estate – Retail Land

FASB ASC 980 – Regulated Operations

FASB ASC 985 – Software

FASB ASC 995 – U.S. Steamship Entities