Accounting Study Guide by AccountingStudy.com

Accounting Study Guide

U.S. GAAP
Financial Reporting Guide

Principles of Accounting, U.S. GAAP Financial Reporting Guide

Accounting by Topic, Accounting Terms Dictionary

Section 2220: Reporting Noncontrolling Interests

[U.S. GAAP before the Codification]
ARB 51, August 1959, Consolidated Financial Statements
SFAS 160, December 2007, Noncontrolling Interests in Consolidated Financial Statements, an Amendment of ARB No. 51

1. SFAS 160 amended ARB No. 51

2. On the face of the consolidated financial statements
--> report (A1) and (A2) separately
(A1) Consolidated net income attributable to the parent
(A2) Consolidated net income attributable to the noncontrolling interest

3. On the face of the consolidated financial statements
--> report (B1) and (B2) separately
(B1) Consolidated comprehensive income attributable to the parent
(B2) Consolidated comprehensive income attributable to the noncontrolling interest

4. SFAS 160, Transition
The requirements for presentation and disclosure are
--> applied "retrospectively"
--> for all periods presented

5. Consolidated net income is adjusted
--> to include net income attributed to the noncontrolling interest

6. Consolidated comprehensive income is adjusted
--> to include comprehensive income attributed to the noncontrolling interest

7. Noncontrolling interest is reclassified
--> to equity

Index of U.S. GAAP Financial Reporting Guide

U.S. GAAP by Codification Topics

105 GAAP Hierarchy
105 GAAP History

205 Presentation of Financial Statements
205-20 Discontinued Operations
210 Balance Sheet
210-20 Offsetting
220 Comprehensive Income
225 Income Statement
225-20 Extraordinary and Unusual Items
230 Statement of Cash Flows
250 Accounting Changes and Error Corrections
260 Earnings per Share
270 Interim Reporting

310 Impairment of a Loan
320 Investment Securities
320 Other-Than-Temporary Impairments, FSP FAS 115-2
320-10-05 Overview of Investments in Other Entities
320-10-35 Reclassification of Investments in Securities
323-10 Equity Method Investments
323-30 Investments in Partnerships and Joint Ventures
325-20 Cost Method Investments
330 Inventory

340-20 Capitalized Advertising Costs
350-20 Goodwill
350-30 Intangibles Other than Goodwill
350-40 Internal-Use Software
350-50 Website Development Costs
360 Property, Plant and Equipment
360-20 Real Estate Sales

410 Asset Retirement and Environmental Obligations
420 Exit or Disposal Cost Obligations
450 Contingencies
450-20 Loss Contingencies
450-30 Gain Contingencies
480 Redeemable Financial Instruments

505-20 Stock Dividends, Stock Splits
505-30 Treasury Stock

605 SEC Staff Accounting Bulletin, Topic 13
605-25 Revenue Recognition - Multiple Element Arrangements

715-30 Defined Benefit Plans - Pension
718 Share-Based Payment
730 Research and Development
730-20 Research and Development Arrangements

805 Business Combinations
810 Consolidation
810 Noncontrolling Interests
810 Consolidation of Variable Interest Entities, SFAS 167

815 Derivatives and Hedging Overview

820 Fair Value Measurements
820 Fair value when the markets are not active, FSP FAS 157-4
825 Fair Value Option

830 Foreign Currency Matters
830-20 Foreign Currency Transactions
830-30 Translation of Financial Statements
835 Interest
835-20 Capitalization of Interest
835-30 Imputation of Interest

840 Leases
840-20 Operating Leases
840-30 Capital Leases
840-40 Sale-Leaseback Transactions
845 Nonmonetary Transactions

855 Subsequent Events
860-20 Sale of Financial Assets, SFAS 166
860-50 Servicing Assets and Liabilities, SFAS 156

985-20 Costs of software to be sold