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U.S. GAAP Checklist Tool

User Guide

APPROPRIATE FOR EXTERNAL DISTRIBUTION

November 2009

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U.S. GAAP Checklist Tool — User Guide U.S. GAAP Checklist Tool — User Guide..................................................................................... 2

The U.S. GAAP Checklist Tool .................................................................................................. 3

Users that are public audit clients ........................................................................................... 3

All users ................................................................................................................................. 3

Overview ..................................................................................................................................... 5

What's new in the U.S. GAAP Checklist Tool ....................................................................... 5

Checklist Tool overview ......................................................................................................... 6

Additional resources and information ..................................................................................... 7

Technical Library ................................................................................................................ 7

Help and feedback............................................................................................................... 7

Accessing the U.S. GAAP Checklist tool ................................................................................... 8

My Checklists ......................................................................................................................... 8

The scoping activity .................................................................................................................... 9

Scoping overview.................................................................................................................. 10

Excluding Topics and Subtopics from scope .................................................................... 10

Review scoping ................................................................................................................. 11

Print scoping ..................................................................................................................... 12

Submit scoping.................................................................................................................. 12

The response activity ................................................................................................................ 12

How to respond to questions ................................................................................................. 14

Navigating to and answering questions ............................................................................ 14

Viewing Codification guidance ........................................................................................ 16

Printing a checklist ................................................................................................................ 18

Completing the checklist........................................................................................................... 19

Frequently Asked Questions ......................................................................................................... 20

Appendix A — e-Mail Notifications ............................................................................................ 21

Appendix B — Codification Scope Paragraphs............................................................................ 22

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The U.S. GAAP Checklist Tool

The Deloitte & Touche LLP (“Deloitte & Touche”) U.S. GAAP Checklist Tool (the “Checklist Tool”) may be of assistance in an evaluation of whether an entity has considered the applicable guidance set forth in the Financial Accounting Standards Board’s Accounting Standards Codification (the “Codification”). Use of the Checklist Tool is subject to the following terms.

Users that are public audit clients The individual authorized to accept these terms and conditions on behalf of an entity (“User”) acknowledges and agrees that Deloitte & Touche believes that its public audit clients should obtain audit committee preapproval for use of the Checklist Tool in accordance with the audit committee’s established preapproval policies and procedures. If the User is a public company audited by Deloitte & Touche, the User agrees that such audit committee approval has already been obtained or will be obtained prior to such use.

All users

The Checklist Tool is provided solely for informational purposes for the User’s internal use and should not be provided to any other person or entity.

The Checklist Tool attempts to provide useful information about U.S. GAAP and the Codification. Much of the material included in the Checklist Tool refers directly to the Codification, and Deloitte & Touche is not the author thereof. Deloitte & Touche is not responsible for the reliability of any material pertaining to the Codification. Although changes to the Codification may have occurred subsequent to the date the Checklist Tool was prepared, Deloitte & Touche does not have any obligation to update the Checklist Tool. There are no claims, promises, or guarantees about the accuracy, completeness, adequacy, or compliance of the Checklist Tool with authoritative guidance generally accepted in the United States of America. The User must assess the suitability of the Checklist Tool for its own purposes.

The Checklist Tool is not a substitute for the User’s understanding of U.S. GAAP and the Codification and the exercise of judgment. The User should have a thorough understanding of the Codification and should refer to the text of the Codification, as necessary, in considering particular items in this Checklist Tool. This Checklist Tool has been written in general terms and therefore cannot be expected to cover specific situations. The User acknowledges and agrees that the content and information contained in the Checklist Tool should not be, and is not, a substitute for the professional judgment of a Certified Public Accountant (CPA), nor should it be used as a basis for making any decision, taking any action, or refraining from taking any action that may affect the User. Before making any decision, taking any action, or refraining from taking any action that may affect the User, a CPA, or other qualified professional advisor should be consulted.

Neither the provision of the Checklist Tool, nor the User’s use of the Checklist Tool, constitutes an audit, review, or any other attestation services by Deloitte & Touche. Deloitte & Touche is

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not offering to perform or performing any professional services or rendering any advice by reason of the Checklist Tool. In particular, Deloitte & Touche is not issuing an attestation report or forming or providing an opinion, report, or any other form of assurance on any financial statements of the User or any other entity. In no event shall the User state or imply that Deloitte & Touche has endorsed any accounting policies or practices.

Deloitte & Touche accepts no duty of care to, and shall not be responsible for any loss sustained by, any person who uses, takes any action or refrains from taking any action based on this Checklist Tool, which shall be at the User’s sole risk.

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Overview On July 1, 2009, the FASB Accounting Standards Codification (the “Codification) became the single source for all authoritative U.S. accounting guidance. All nongovernmental entities that report under U.S. GAAP are required to follow the guidance in the Codification for reporting periods ending after September 15, 2009.

The Codification flattens the GAAP hierarchy into two categories: Authoritative (i.e., included in the Codification) and nonauthoritative (i.e., excluded from the Codification)*.

What's new in the U.S. GAAP Checklist Tool To accommodate the changes the Codification introduces, a new U.S. GAAP Checklist Tool (the “Checklist Tool”) has been developed to replace the 700-page U.S. GAAP Compliance Checklist, which was structured based on the FASB Current Text. Highlights of the Checklist Tool include:

• Codification guidance — The Checklist Tool asks compliance questions about accounting and disclosure guidance from the following sections of the Codification: o Accounting: 25 — Recognition, 30 — Initial Measurement, 35 — Subsequent

Measurement, and 40 — Derecognition o Disclosure: 45 — Other Presentation and 50 — Disclosure

Note: Other sections in the Codification (00 — Status, 05 — Background, 15 — Scope, 20 — Glossary, 55 — Implementation and Illustrations, 60 — Relationships, and 65 — Transition) are not included. Users of the Checklist Tool can refer to these sections in Technical Library as necessary.

o The related Codification guidance is shown after each question for users that subscribe to Deloitte Technical Library.

• Topic and Subtopic Scoping — Users can "scope out," at the Codification Topic and Subtopic levels, those transactions, events, and industry-related guidance that do not apply.

• Concurrent Use — Multiple users can work on different sections of the same checklist at the same time.

• Easily accessible — The U.S. GAAP Checklist Tool is accessible online.

* See FASB Accounting Standards Codification (ASC) Topic 105, Generally Accepted Accounting Principles (formerly FASB Statement No. 168, The FASB Accounting Standards CodificationTM and the Hierarchy of Generally Accepted Accounting Principles — a replacement of FASB Statement No. 162).

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Checklist Tool overview Users interact with the Checklist Tool for scoping and response. A high-level overview of the tool follows:

• Create — Deloitte engagement teams create checklists for the user. a. The Deloitte engagement team, working with the user, creates an accounting,

disclosure or both [accounting and disclosure] checklist. b. The Deloitte engagement team adds the e-mail address of each user. c. Each user added to the checklist receives two e-mails from GAAP Admin; one

includes a link to the checklist, the other a temporary login password. • Scope — The user selects the checklist and begins the scoping activity. All Topics and

Subtopics are included in scope by default. The user excludes Topics and Subtopics that do not apply to the entity.

Note: After scoping is completed and submitted, the user cannot return and make changes to the scoping. If changes need to be made after the scoping is submitted, the Deloitte engagement team can create a new checklist on behalf of the user. The user would then scope in only the relevant guidance related to any changes. For example, if the entity enters into a material transaction that was not included in the original scope of the checklist, the Deloitte engagement team would create a new checklist, which the user would use to scope in only the guidance applicable to the particular transaction.

• Response — The user answers every question Yes, No, or N/A (not applicable) and may add other references as required or necessary: a. Yes = The entity has complied with the guidance. b. No = The entity has not complied with the guidance. A “no” answer requires an

explanation, which is entered into the Comment field. c. N/A (not applicable) = The guidance is not applicable to the entity. d. Comment — The user can enter comments for any question in the Comment field.

Comments are required for No answers. e. Reference — The user can enter a reference in the WP Reference field to support the Yes

| No | N/A conclusion when applicable. f. Review Note — The user can enter a review note by clicking the Show/Hide Review

Note button; review notes are deleted when the checklist is completed.

Note: The Deloitte engagement team has read-only access to user checklists; only the user is able to scope guidance or complete responses.

• Completion — A checklist is complete when all questions have been answered. When the checklist is completed: a. A PDF of the completed checklist is created for the user and a notification [of completion]

is e-mailed to all users who were added to the checklist and all members of the Deloitte engagement team. The Deloitte engagement team can view the PDF.

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• Other features a. Adding or removing users — Deloitte engagement team members can add or remove

users at any time. b. Response history — The tool tracks which user(s) answered each question and at what

time. c. Printing — A checklist (completed or in process) can be printed at any time and can

include optional information (e.g., comments, review notes, etc.).

Additional resources and information While scoping the checklist, consider Appendix B — Codification Scope Paragraphs. Technical Library

Technical Library (https://techlib.deloitte.com/) provides additional information and resources, including:

• Accounting Standards Codification Manual — Includes the entire FASB Codification and additional Deloitte guidance.

• Find the GAAP — Enables users to reconcile prior-year checklists with the current Codified checklist(s).

Help and feedback

General support — Contact your Deloitte engagement team.

Feedback and suggestions only — e-mail [email protected].

https://techlib.deloitte.com/

mailto:[email protected].

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Accessing the U.S. GAAP Checklist tool Users access the US GAAP checklist at:

https://checklists.deloitte.com

Users then enter their e-mail address and password and then click the Deloitte Client Access login button. The e-mail address is the address to which the e-mail granting access to the checklist was sent. A temporary password is sent in a separate e-mail. See Appendix A — e-Mail Notifications for further information on e-mails received from the Checklist Tool.

My Checklists

My Checklists window

For users with subscriptions to Deloitte Technical Library, click Update Deloitte Technical Library login credentials. This will only need to be done (1) the first time the user uses the Checklist Tool or (2) when the user changes their password in Deloitte Technical Library.

https://checklists.deloitte.com

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Enter your Deloitte Technical Library username and password, and click Save. You will then be able to view the Codification within the Checklist Tool.

The scoping activity In the My Checklists window, you will see the status of your checklist(s). To begin the scoping activity, click the Scoping link under Status:

The Checklist Scoping window opens:

A description of each button and area follows:

• Print Scoping — Creates a PDF of the current state of the checklist; see Print Scoping Screen for more details.

• Back — Returns you to the My Checklists window. • (1) Codification area navigation — Navigation to each of the Codification areas. To move

between areas, click the << or >> buttons, or select an area from the drop-down list and click GO.

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• (2) Topic & Subtopic navigation — Allows you to view the selected Codification area's Topics and Subtopics.

• (3) Include in / exclude from scope pane — Allows you to select whether a particular Topic and/or Subtopic is included in the checklist.

• Save — Saves your scope changes for the selected Topic or Subtopic. • Submit Scoping — Creates the active checklist.

Reminder: After scoping is completed and submitted, you will not be able to return and make changes to the scoping. If changes need to be made after the scoping is submitted, the Deloitte engagement team can create a new checklist on behalf of the user. The user would then scope in only the relevant guidance related to any changes.

Scoping overview By default, all Codification guidance is "in scope" until it is explicitly excluded from scope. Also consider reviewing Codification Section 15 — Scope, for each Topic and Subtopic, as well as any Deloitte-issued guidance in Technical Library, to assist in determining whether a Topic or Subtopic is in scope. See Appendix B—Codification Scope Paragraphs for references to the scoping sections of each Subtopic in the Codification. Excluding Topics and Subtopics from scope

When you open the Checklist Scoping window, the default Codification area is Presentation. Using the Topic and Subtopic navigation tree, select the Topics and/or Subtopics to be excluded from scope — do this for each Codification area. The following example shows Subtopic 605-20 Services in its default state of Yes [include in scope]:

Note: The Checklist Tool allows you to scope below the Subtopic level (i.e., at the Section and Subsection levels). For simplicity, however, it may be easiest to scope at the Subtopic level.

The Include in / exclude from scope pane includes three functions:

1. Yes | No — By default, a Topic or Subtopic is in scope; to exclude, select No. 2. Save — Click the Save button to save changes; changes are not saved by clicking a

Topic & Subtopic navigation node. DO NOT click Submit Scoping to save. 3. Show Response History — Select this check box to view a history of changes (modified

by, time modified, and action taken).

Note: By default, all Topics and Subtopics are included in scope. If only one or two Topics / Subtopics in a Codification area (e.g., Industry) are in scope, first exclude the entire area from scope, then include in scope the [one or two] individual Topics / Subtopics.

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The following example shows Subtopic 605-20 Services being excluded from scope:

Review scoping

There are two recommended ways to review scoping:

• Online (recommended) — The reviewer logs into the checklist and reviews each Topic and Subtopic in each area. o The "include in scope" icon displays next to each Topic and Subtopic that will result in

further questions included in the response activity of the checklist. o The "exclude from scope" icon displays next to Topics and Subtopics that will be

excluded from the checklist. Excluded Topics and Subtopics do not appear in the checklist.

• Print — You can generate and print a PDF to review scope; however, this is not recommended if it is feasible to review online, because the printed version can be lengthy, as illustrated below:

In general, the Area > Topic > Subtopic > Section > Subsection hierarchy is easier to use online in a tree view than in print form for every question.

Note: During scoping, multiple user personnel can perform the scoping activity concurrently. To view the history of changes for a Topic, Subtopic, or Subsection, select Show Response History.

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Print scoping

During the scoping activity, users can create a PDF of the in-process scoping. You can create a PDF to print the in-process scoping at any time during the scoping activity. There are several options available, each of which is explained below.

• Areas to include — Select the areas to include.

• Scope — Include the answer (“Yes” indicates that the item has been included in the checklist; “No” indicates the item has been excluded).

• Consideration Points — Include Deloitte-authored consideration points.

To easily find what is excluded from scope in the PDF, search for the relevant text (e.g., No), then use the previous and next buttons in Adobe Acrobat to jump to each occurrence.

Note: Before you click Submit Scoping, you may create a PDF of the completed scoping as a reference. After you click Submit Scoping, you will not be able to access print scoping feature or view completed scoping.

Submit scoping

Reminder: After scoping is completed and submitted, the user will not be able to return and make changes to the scoping.

When you click Submit Scoping, you have one last chance to change Topic and Subtopic scoping choices:

Click Cancel to continue scoping or click OK to create the checklist. When you click OK, the U.S. GAAP Checklist Tool will create a checklist that:

1. Includes questions for all Topics and Subtopics that are included in scope, and 2. Excludes [questions for] all Topics or Subtopics that were excluded from scope.

The response activity The response activity follows the scoping activity. After the scoping activity is complete, the checklist link under Status changes to Active:

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Click the Active link to open the checklist (the following example displays the Revenue area):

A description of each button and area follows:

• Print Questions —Creates a PDF of the current state of the checklist; see Print Questions. • Back — Returns you to the My Checklists window. • (1) Codification area navigation — Allows you to navigate to each of the Codification areas.

To move between areas, click the << or >> buttons, or select an area from the drop-down list and click Go.

• (2) Topic & Subtopic navigation — Allows you to view the selected Codification area's Topics and Subtopics.

• (3) Response pane — Allows you to select whether a particular Topic and/or Subtopic needs to be included in the checklist.

• Close — Closes the window; does not save unsaved responses (use the Save Response button in the Response pane).

• Legend o * Displays in the Response pane (area 3) when a comment is required. o Displays in the Topic & Subtopic navigation next to each question that has been

answered. o Displays in the Topic & Subtopic navigation next to each question that has a

review note (also see printing questions). o Displays in the Topic & Subtopic navigation next to each question that has a

comment (also see printing questions).

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How to respond to questions During the scoping activity, the user excludes from scope guidance related to transactions, events, account balances, and industry-related issues that do not apply to the entity. This activity reduces the pool of questions in the response activity. Navigating to and answering questions

Use the Topic & Subtopic navigation tree to get to the questions in each Topic > Subtopic > Section > Subsection. Questions occur below the Codification Subsection level; all levels at or above the Codification Subsection are navigational only (i.e., there are no questions at these [higher] levels).

When you select a question in the Topic & Subtopic navigation tree, you will see the Checklist Response window as follows:

Checklist Response window

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• (1) Codification location — The highlighted line corresponds with the question in the review pane.

• (2) Save Response — Click after editing any item in the response pane.

Note: Click the Save Response button to save changes; changes are not saved by clicking a Topic & Subtopic navigation node.

• (3) Show Response History — Click to show the history of responses to this question:

• (4) Answer—For each question answer:

o Yes = The entity has complied with the guidance. o No = The entity has not complied with the guidance. A “no” answer requires an

explanation; in the Comment field (7), enter the reasons for the No answer. o N/A (not applicable) = The guidance is not applicable to the entity.

• (5) Review Note — The user can enter a review note by clicking the Show/Hide Review Note button. Review notes will be deleted automatically when the the checklist is completed. Questions with review notes appear in the navigation tree with the icon. To delete a review note, select the text and click the delete button on your keyboard.

• (6) Reference — The user can enter a documentation reference in the WP Reference field to support the Yes | No | N/A conclusion when applicable. To delete a reference, select the text and click the delete button on your keyboard.

• (7) Comment — The user can enter comments for any question in the Comment field. Comments are required for No answers. Questions with comments appear in the navigation tree with the icon. To delete a comment, select the text and click the delete button on your keyboard.

• Consideration Points [not shown] — Provides you with information to consider when answering certain questions throughout the checklist; they are not substitutes for or interpretations of the Codification guidance.

• Finish Checklist — See Completing the checklist.

Note: Multiple users can respond to questions concurrently. To view the history of changes for a question, select Show Response History.

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Viewing Codification guidance

Codification guidance for each question appears in the review pane after the Comment box:

Codification guidance for an entire Subsection (e.g., General) may also be viewed by clicking on the Subsection level.

The Codification content includes the following (where applicable):

• Legacy source information — Following each paragraph or sentence is the source of the content (e.g., FAS 48, paragraph 6). Use the Find the GAAP tool on Deloitte Technical Library to cross reference Codification content with its legacy source, if necessary.

• Pending content — The FASB includes pending content in the Codification in addition to current content. Pending content is enclosed in a "Pending Content" box and includes a transition guidance link:

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Note: Pending content is new Codification guidance that is not yet effective for every entity. The transition guidance also includes the effective date and whether the guidance may be early adopted.

• Links — The Codification includes many links (including Transition Guidance links, as described above); click a link to see the guidance in a popup window:

The Checklist Tool has the following limitations around links and content:

Codification links to Topics, Subtopics, and Sections do not show content because Codification content only appears at or below the Subsection level.

Codification links to "spanned" paragraphs (e.g., 805-20-25-27 through 25-28) only display the first paragraph — use Deloitte Technical Library to see all Codification content.

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Printing a checklist You can create a PDF to print the in-process checklist* at any time during the response activity. There are several options available, each of which is explained below.

• Areas to include — Select the areas to include. • Answer — Include the Yes | No | N/A

conclusion. • Review Notes — Include review notes. • Comments — Include comments. • WP Reference — Include working paper

references. • Consideration Points — Include Deloitte-

authored consideration points.

To easily find review notes, comments, and working paper references in the PDF, search for the relevant text (e.g., "review notes" or "comments," as shown below), then use the previous and next buttons in Adobe Acrobat to jump to each occurrence:

* You can also print an in-process checklist; the available print options are the same.

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Completing the checklist After all questions are answered in all Codification areas, the Finish Checklist button is enabled. There are a few things to consider before completing the checklist:

• Clear all review notes — Any open review notes are deleted when the checklist is completed. Questions with review notes appear in the navigation tree with the icon. To view open review notes, create a PDF of the checklist and include review notes (see Printing a checklist).

• Obtain proper authorization — The completed checklist cannot be changed; the individual who clicks Finish Checklist needs to be authorized to do so.

After the Finish Checklist button is clicked, the following occurs:

• Status — The checklist status changes to closed on the My Checklists window; the checklist becomes "read-only," and no edits can be made to the checklist.

• E-mail — Each member who was added as a checklist user will receive an e-mail with a link to the read-only checklist.

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Frequently Asked Questions

1. Q I clicked Submit Scoping and I forgot to include a Topic / Subtopic in scope. Can I add the Topic / Subtopic to an existing checklist?

A No. You can, however, request that your Deloitte engagement team create a new checklist and only “scope in” the omitted Topics and/or Subtopics; you will then have two checklists.

2. Q I clicked Submit Scoping and failed to exclude from scope some Topics or Subtopics that are not in scope. What are my options?

A Option 1: Request that your Deloitte engagement team create a new checklist. Option 2: Answer N/A to every question in the Topics or Subtopics that are not in scope. This option generally applies if you have already started answering questions in the checklist.

3. Q If I have “no” answers in the checklist, can I isolate the comments for review?

A Yes. Using the Print Questions (see Printing a checklist), check all of the boxes under “Select the areas to include in the PDF” and then check only the “Answer” and “Comments” boxes under “Select the items to include in the PDF.” This will print a report that shows only the answers and comments left in the checklist. Use the search function in the PDF to locate the comments.

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Appendix A — e-Mail Notifications The following events generate e-mail notifications. Each user and member of the Deloitte engagement team who has been added to a [particular] checklist receives these notifications.

User(s):

1. When a user is added to a checklist by a Deloitte engagement team member: a. The user will receive an e-mail with the user name and a link to the U.S. GAAP

Checklist Tool site. b. The user will receive an e-mail with the password.

2. When a user requests a [forgotten] password.

Appendix B — Codification Scope Paragraphs Topic/Subtopic Title Subsection Scope Paragraphs Additional Information (as needed)

205-10 Presentation of Financial Statements General 15-1 through 15-2

205-20 Presentation of Financial Statements — Discontinued Operations

General 15-1 through 15-2

210-10 Balance Sheet General 15-1 through 15-3

210-20 Offsetting General 15-1 through 15-3

225-10 Income Statement General 15-1 through 15-3

225-20 Extraordinary & Unusual Items General 15-1 through 15-2

225-30 Business Interruption Insurance General 15-1

215-10 Statement of Shareholders' Equity N/A N/A

220-10 Comprehensive Income General 15-1 through 15-4

230-10 Statement of Cash Flows General 15-1 through 15-4

235-10 Notes to Financial Statements General 15-1 through 15-2

250-10 Accounting Changes General 15-1 through 15-4

255-10 Changing Prices General 15-1 through 15-3

260-10 Earnings Per Share General 15-1 through 15-5

270-10 Interim Reporting General 15-1 through 15-3

272-10 Limited Liability Entities General 15-1 through 15-2

274-10 Personal Financial Reporting General 15-1 through 15-2

275-10 Risks and Uncertainties General 15-1 through 15-6

280-10 Segment Reporting General 15-1 through 15-3

Appendix B — Codification Scope Paragraphs

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Topic/Subtopic Title Subsection Scope Paragraphs Additional Information (as needed)

325-30 Investments in Insurance Contracts General 15-1 through 15-6

305-10 Cash and Cash Equivalents General 15-1 through 15-2

310-10 Receivables General 15-1 through 15-5

310-20 Nonrefundable Fees and Other General 15-1 through 15-5

310-30 Loans and Debt Securities Acquired General 15-1 through 15-10

310-40 Trouble Debt Restructurings by Creditors General 15-1 through 15-12

323-10 Investments — Equity Method and Joint Ventures General 15-2 through 15-19

323-30 Partnerships, Joint Ventures, and Limited Liability Entities General 15-1 through 15-4

323-740 Income Taxes General 15-1

Qualified Affordable Housing Project Investments

15-2 through 15-3

325-10 Investments — Other N/A N/A

325-20 Cost Method Investments General 15-1 through 15-2

325-40 Beneficial Interests in Securitized Financial Assets General 15-1 through 15-9

330-10 Inventory General 15-1 through 15-3

340-10 Other Assets and Deferred Costs General 15-1 through 15-2

340-20 Capitalized Advertising Costs N/A N/A

340-30 Insurance Contracts that Do Not Transfer Insurance Risk General 15-1 through 15-6

350-10 Intangibles— Overall General 15-1 through 15-4

350-20 Intangibles — Goodwill General 15-1 through 15-3


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350-30 Intangibles — General Intangibles Other Than Goodwill General 15-1 through 15-5

350-40 Intangibles — Internet Use Software General 15-1 through 15-7

350-50 Intangibles — Website Development Costs General 15-1 through 15-3

360-10 Property, Plant, and Equipment General 15-1 through 15-2

360-20 Real Estate Sales General 15-1 through 15-10

405-10 Liabilities N/A N/A

405-20 Extinguishments of Liabilities General 15-1 through 15-2

405-30 Insurance-Related Assessments General 15-1 through 15-3

410-10 Asset Retirement and Environmental Obligations N/A N/A

410-20 Asset Retirement Obligations General 15-1 through 15-3

410-30 Environmental Obligations General 15-1 through 15-3

420-10 Exit or Disposal Cost Obligations General 15-1 through 15-8

430-10 Deferred Revenue N/A N/A

440-10 Commitments General 15-1 through 15-2

Unconditional Purchase Obligations

15-3 through 15-4

450-10 Contingencies General 15-1 through 15-3

450-20 Loss contingencies General 15-1 through 15-2

450-30 Gain contingencies General 15-1

460-10 Guarantees General 15-1 through 15-7


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Product Warranties 15-8 through 15-10

470-10 Issuers' Accounting for Debt and Equity General 15-1 through 15-2

470-20 Debt with conversion and other options General 15-1 through 15-2

Cash Conversion 15-3 through 15-6

470-30 Participating Mortgage Loans General 15-1 through 15-3

470-40 Product Financing Arrangements General 15-1 through 15-3

470-50 Modifications and Extinguishments General 15-1 through 15-4

470-60 Trouble Debt Restructurings by Creditors General 15-1 through 15-13

505-60 Equity — Spinoffs and Reverse Spinoffs General 15-1 through 15-3

480-10 Distinguishing Liabilities from Equity General 15-1 through 15-10

505-10 Equity General 15-1 through 15-2

505-20 Stock Dividends and Stock Splits General 15-1 through 15-3

505-30 Treasury Stock General 15-1 through 15-2

505-50 Equity-Based Payments to Non-Employees General 15-1 through 15-3 This Subtopic contains compliance questions that are specific to equity-based payments issued to nonemployees. For compliance requirements not specifically addressed for nonemployee awards within this subtopic, an entity generally applies the provisions in Topic 718.

605-10 Revenue Recognition General 15-1 through 15-3

605-15 Products General 15-1 through 15-4

605-20 Services General 15-1 through 15-3

605-25 Multiple-Element Arrangements General 15-1 through 15-4


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605-30 Rights to Use N/A N/A

605-35 Construction-Type and Production-Type Contracts General 15-1 through 15-6

605-40 Revenue Recognition — Gains & Losses General 15-1 through 15-2

605-45 Revenue Recognition — Principal Agent Considerations General 15-1 through 15-5

605-50 Revenue Recognition — Customer Payments & Incentives General 15-1 through 15-3

705-10 Cost of Sales and Services — Overall N/A N/A

710-10 Compensation — General — Overall General 15-1 through 15-6

Deferred Compensation - Rabbi Trusts

15-7 through 15-8

712-10 Compensation — Nonretirement Postemployment Benefits — Overall


715-10 Compensation — Retirement Benefits — Overall General 15-1 through 15-8

715-20 Compensation — Retirement Benefits — Defined Benefit Plans — Overall


715-30 Compensation — Retirement Benefits — Defined Benefit Plans — Pension


Settlements, Curtailments and Termination Benefits

15-5 through 15-7

715-60 Compensation — Retirement Benefits — Defined Benefit Plans — Other Post Retirement


Medicare Prescription Drug, Improvement, and Modernization Act

15-10 through 15-13

Settlements, Curtailments and

15-14 through 15-18


– 27 –


Termination Benefits

Split-Dollar Life Insurance Arrang3ments

15-19 through 15-21

715-70 Compensation — Retirement Benefits — Defined Contribution Plans

General 15-1

715-80 Compensation — Retirement Benefits — Multiemployer Plans


718-10 Compensation — Stock Compensation General 15-1 through 15-7 The compliance questions within subtopic 718-10 contain the general guidance for share-based payments for employees. These compliance questions are also generally applicable to share-based payments arrangements issued to nonemployees, except where specific guidance for nonemployees is provided in 505-50. These compliance questions are also generally applicable to employee share purchase plans (ESPPs), except where specific guidance for nonemployees is provided in 718-50. However, the compliance questions under 718-10 are not applicable if the entity has equity instruments held by an employee share ownership plan (ESOP), which have their own discrete scope. For ESOP compliance questions, refer to the compliance questions under 718-40.

If an entity has share-based payment awards classified as equity, the compliance questions under 718-20 need to be completed in addition to 718-10. If an entity has share-based payment awards classified as liabilities, the compliance questions under 718-30 need to be completed in addition to 718-10.

718-20 Awards Classified as Equity General 15-1 through 15-3 This subtopic follows the same scope and scope exceptions as subtopic 718-10 but contains additional considerations that relate specifically to share-based payment awards classified as equity.

718-30 Awards Classified as Liabilities General 15-1 through 15-2 This subtopic follows the same scope and scope exceptions as subtopic 718-10 but contains additional considerations that relate specifically to share-based payment awards classified as liabilities.


– 28 –


718-40 Employee Stock Ownership Plans General 15-1 through 15-4 Although within the same topic, the compliance questions under the Overall subtopic (i.e., 718-10) are not applicable if the entity has equity instruments held by an employee share ownership plan (ESOP). Equity instruments held by an ESOP have their own discrete compliance questions in 718-40.

718-50 Employee Share Purchase Plans General 15-1 through 15-2 This Subtopic contains compliance questions that are specific to employee share purchase plans (ESPPs). For compliance requirements not specifically addressed for ESPPs within this subtopic, an entity generally applies the provisions in Topic 718.

718-740 Compensation — Stock Compensation — Income Taxes General 15-1 through 15-2 Same scope as outlined in ASC 718-10-15.

720-10 Other Expenses — Overall N/A N/A

720-15 Start-Up Costs General 15-1 through 15-5

720-20 Insurance Costs General 15-1 through 15-2

Retroactive Contracts 15-3 through 15-6

Claims-Made Contracts 15-7 through 15-8

Multiple-Year Retrospectively Related Contracts

15-9 through 15-10

720-25 Contributions Made General 15-1 through 15-3

720-30 Real and Personal Property Taxes N/A N/A

720-35 Advertising Costs General 15-1 through 15-4

720-40 Electronic Equipment Waste Obligations General 15-1 through 15-2

720-45 Business and Technical Reengineering General 15-1 through 15-2

730-10 Research and Development — Overall General 15-1 through 15-5


– 29 –


730-20 Research and Development — Research and Development Arrangements


740-10 Income Taxes — Overall General 15-1 through 15-4

740-20 Income Taxes — Intraperiod Tax Allocation General 15-1 through 15-2 Same scope as outlined in ASC 740-10-15.

740-30 Income Taxes — Other Consideration or Special Areas General 15-1 Same scope as outlined in ASC 740-10-15.

740-270 Income Taxes — Interim Reporting General 15-1 Same scope as outlined in ASC 740-10-15.

805-10 Business Combinations — Overall General 15-1 through 15-4

805-20 Business Combinations — Identifiable Assets and Liabilities and Noncontrolling Interests

General *Same scope as 805-10.

805-30 Business Combinations — Goodwill or Gain from Bargain Purchase

General *Same scope as 805-10.

805-40 Business Combinations — Reverse Acquisitions General 15-1 through 15-2

805-50 Business Combinations — Related Issues General 15-1

Acquisition of Assets Rather Than a Business

15-2 through 15-4

Transactions Between Entities Under Common Control

15-5 through 15-6A

New Basis of Accounting (Push-Down)

15-7 through 15-9

805-740 Business Combinations — Income Taxes General 15-1 Same scope as outlined in ASC 805-10-15.

808-10 Collaborative Arrangements General 15-1 through 15-13

810-10 Consolidation General 15-1 through 15-12


– 30 –


Variable Interest Entities 15-13 through 15-17

Consolidation of Entities Controlled by Contract

15-18 through 15-22

810-20 Control of Partnerships and Similar Entities General 15-1 through 15-3

810-30 Research and Development Arrangements General 15-1 through 15-4 For guidance on issues concerning research and development arrangements other than consolidation issues, see ASC 730-20.

815-10 Derivatives and Hedging General 15-1 through 15-139 Consider the guidance in ASC 815-10-15-13 through 15-82 when determining whether financial instruments and other contracts are scoped out of ASC 815.

Consider the guidance in ASC 815-10-15-83 through 15-139 when determining whether financial instruments and other contracts meet the definition of a derivative instrument.

Certain Contracts on Debt and Equity Securities

15-140 through 15-142

815-15 Hedging — General General 15-1 through 15-21

815-20 Embedded Derivatives General 15-1 Guidance in ASC 815-20 is applicable to all entities with hedging activities.

815-25 Fair value hedges General 15-1

815-30 Cash Flow Hedges General 15-1 through 15-3

815-35 Net Investment Hedges General 15-1 Refers to 815-20-15.

815-40 Contracts in entity's own equity General 15-1 through 15-13

815-45 Weather Derivatives General 15-1 through 15-2

820-10 Fair Value Measurements and Disclosures General 15-1 through 15-3


– 31 –


825-10 Financial Instruments General 15-1 through 15-2

Fair Value Option 15-3 through 15-7

825-20 Registration Payment Arrangements General 15-1 through 15-5

830-10 Foreign Currency Matters General 15-1 through 15-7

830-20 Foreign Currency Transactions General 15-1 through 15-2

830-30 Translation of Financial Statements General See Note Follows same scoping as that of 830-10-15.

830-230 Statement of Cash Flows General See Note Follows same scoping as that of 830-10-15.

830-740 Income Taxes General 15-1 through 15-3

835-10 Interest N/A N/A

835-20 Capitalization of Interest General 15-1 through 15-8

835-30 Imputation of Interest General 15-1 through 15-4

840-10 Leases General 15-1 through 15-21

Lessees See Note Follows same scoping as that of 840-10-15.

Lessors See Note Follows same scoping as that of 840-10-15.

840-20 Operating Leases General See Note Follows same scoping as that of 840-10-15.



840-30 Capital Leases General See Note Follows same scoping as that of 840-10-15.




– 32 –


840-40 Sale-Leaseback Transactions General 15-1 through 15-2

Lessees 15-3 through 15-6


Real Estate 15-8 through 15-10

845-10 Nonmonetary Transactions — Overall General 15-1 through 15-4

Purchases and Sales of Inventory with the Same Counterparty

15-5 through 15-9

Barter Transactions 15-10 through 15-11

Exchanges Involving Monetary Consideration

15-12 through 15-17

Exchanges of a Nonfinancial Asset for a Noncontrolling Ownership Interest

15-18 through 15-20

850-10 Related Party Disclosures General 15-1 through 15-4 The guidance in the Related Party Disclosures Topic is limited to disclosures. Accounting and reporting issues concerning certain related-party transactions and relationships are addressed in other Topics.

852-10 Reorganizations — Overall General 15-1 through 15-3

852-20 Reorganizations — Quasi— Reorganizations General 15-1 through 15-3

852-740 Reorganizations — Income Taxes General 15-1 through 15-2

855-10 Subsequent Events General 15-1 through 15-5

860-10 Transfers and Servicing Overall Guidance 15-1

Entities 15-2


– 33 –


Transactions 15-3 through 15-6

860-20 Sales of Financial Assets Overall Guidance See Note Follows same scoping as that of 860-10-15.

860-30 Secured Borrowing and Collateral Overall Guidance See Note Follows same scoping as that of 860-10-15.

Transactions 15-2 and 15-3

860-40 Transfers to Qualifying Special Purpose Entities Overall Guidance 15-1

Conditions for a Qualifying Special Purpose Entity

15-2 through 15-5

Need to be Demonstrably Distinct from the Transferor

15-6 through 15-9

Limits on Permitted Activities

15-10 through 15-11

Limits on the Assets It Can Hold

15-12 through 15-13

Passive Instruments Held

15-14

Derivative Instruments Held

15-15 through 15-18

Servicing Rights Held 15-19 through 15-22

Nonfinancial Assets Held

15-23 through 15-24

Cash Collections Held 15-25 through 15-26

Limits on the Sales or Other Dispositions of Assets

15-27 through 15-28


– 34 –


Formerly Qualifying Special Purpose Entities

15-29

860-50 Servicing Assets and Liabilities Overall Guidance 15-1

Entities 15-2

Transactions 15-3

Industry Guidance

Note: Unless otherwise noted, all other Subtopics under this industry follow the same scoping guidance as in the Overall Subtopic.

905 Agriculture General 15-1 through 15-5

Cooperatives 15-6 through 15-8

Cooperatives - Patrons 15-9 through 15-11

908 Airlines General 15-1 through 15-2

910 Contractors — Construction General 15-1 through 15-4

912-10 Contractors — Federal Government — Overall General 15-1 through 15-4

912-730 Research and Development — Contractors — Federal Government


915 Development Stage Entities General 15-1 through 15-5

920 Entertainment — Broadcasters General 15-1 through 15-3

922 Entertainment — Cable Television General 15-1 through 15-2

924 Entertainment — Casinos General 15-1 through 15-2

926 Entertainment — Films General 15-1 through 15-3

928 Entertainment — Music — Overall General 15-1 through 15-2


– 35 –


930-10 Extractive Activities Mining General 15-1 through 15-3

930-330 Inventory Extractive Activities — Mining General 15-1 through 15-2

930-715 Compensation Benefits — Extractive Activities Mining General 15-1 through 15-2

932-10 Overall General 15-1 through 15-3

932-270 Interim Reporting General 15-1 through 15-2

940-10 Financial Services—Broker and Dealers—Overall General 15-1 through 15-2

940-20 Financial Services—Broker and Dealers—Broker-Dealer Activities


940-320 Investments—Debt and Equity Securities—Financial Services—Brokers and Dealers


940-325 Investments—Other—Financial Services—Brokers and Dealers

15-1 through 15-2

942-10 Financial Services— Depository and Lending— Overall


942-310 Receivables— Financial Services— Depository and Lending


942-720 Other Expenses— Financial Services— Depository and Lending

General 15-1

942-740 Income Taxes— Financial Services— Depository and Lending


942-825 Financial Instruments— Financial Services— Depository and Lending


944-10 Financial Services—Insurance General 15-2

944-20 Financial Services — Insurance — Insurance Activities



– 36 –


Short-Duration Contracts

15-5 through 15-7

Long-Duration Contracts 15-8 through 15-31

Reinsurance Contracts 15-32 through 15-65

Financial Guarantee Insurance Contracts

15-66 through 15-69

944-80 Financial Services — Insurance — Separate Accounts


944-605 Financial Services — Insurance — Revenue Recognition


944-805 Financial Services — Insurance — Business Combinations

Demutualizations 15-2 through 15-5

946-10 Financial Services — Investment Companies General 15-1 through 15-6





948 Financial Services— Mortgage Banking—Overall General 15-1 through 15-4

950-350 Intangibles — Goodwill and Other —Financial Services—Title Plant

General 15-1

952 Franchisors General 15-1 through 15-3

954-10 Health Care Entities General 15-1 through 15-3

954-225 Health Care Entities — Income Statement General 15-1 through 15-2 The guidance in ASC 954-225 applies only to not-for-profit, business-oriented health care entities.


– 37 –


954-280 Health Care Entities — Segment Reporting General 15-1 through 15-2 The guidance in ASC 95-280 applies only to investor-owned health care entities.

954-325 Health Care Entities — Investments—Other General 15-1 through 15-3 ASC 954-325 does not provide guidance on investments of a not-for-profit business-oriented health care entity that are held by a financially interrelated entity.

954-740 Health Care Entities — Income Taxes General 15-1 through 15-2 The guidance in ASC 954-740 applies only to not-for-profit, business-oriented health care entities.

954-810 Health Care Entities — Consolidations General 15-1 through 15-3 ASC 954-810 provides consolidation guidance for reporting relationships with other entities in addition to the guidance in other ASC subtopics.

954-815 Health Care Entities — Derivatives and Hedging General 15-1 through 15-2 The guidance in ASC 954-815 applies only to not-for-profit, business-oriented health care entities.

954-825 Health Care Entities — Financial Instruments General 15-1 through 15-2 The guidance in ASC 954-825 applies only to not-for-profit, business-oriented health care entities.

958 Not-for-Profit Entities General 15-1 through 15-6

958-20 Financially Interrelated Entities General 15-1 through 15-4

958-225 Income Statement General 15-1 through 15-2

958-320 Investments — Debt and Equity Securities General 15-1 through 15-7

958-325 Investments — Other General 15-1 through 15-3

958-605 Revenue Recognition Contributions Received 15-3 through 15-7

Transfers of Assets to a Not-for-Profit Entity or Charitable Trust that Raises or Holds Contributions for Others

15-8 through 15-12

958-720 Other Expenses Accounting for Costs of Activities that Include Fundraising

15-3 through 15-5


– 38 –


958-810 Consolidation Other Considerations 15-3 through 15-4

960 Plan Accounting — Defined Benefit Pension Plans — Overall


962 Plan Accounting — Defined Contribution Plans — Overall


965 Plan Accounting — Health and Welfare Benefit Plans — Overall


970 Real Estate — General General 15-1 through 15-3

Real Estate Syndication 15-4 through 15-5

Real Estate Project Costs

15-6 through 15-11

970-323 Real Estate — General — Investments—Equity Method and Joint Ventures


970-470 Real Setae — General — Debt General 15-1

970-605 Real Estate — General — Revenue Recognition Real Estate Syndication 15-2 through 15-6

972 Real Estate — Common Interest Realty Associations


974 Real Estate — Real Estate Investment Trusts General 15-1 through 15-2

974-323 Real Estate — Real Estate Investment Trusts — Investments — Equity Method and Joint Ventures


976 Real Estate — Retail Land General 15-1 through 15-4

978 Real Estate — Time-Sharing Activities General 15-1 through 15-6

978-330 Real Estate — Time-Sharing Activities — Inventory General 15-1 through 15-4

980 Regulated Operations General 15-1 through 15-7


– 39 –


980-20 Discontinuation of Rate-Regulated Accounting General 15-1 through 15-3

980-605 Revenue Recognition General 15-1 through 15-3

985 Software General 15-1 through 15-3

985-20 Software — Costs of Software to Be Sold, Leased, or Marketed


985-605 Software — Revenue Recognition General 15-1 through 15-4

985-845 Software — Nonmonetary Transactions General 15-1 through 15-2

995-740 Income Taxes — U.S. Steamship Entities General 15-1

This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor.

Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. As used in this document, “Deloitte” means Deloitte & Touche LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

Copyright © 2009 Deloitte Development LLC. All rights reserved.

www.deloitte.com/us/about

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