Accounting Terms Dictionary by AccountingTermsDictionary.com

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U.S. GAAP Codification

IFRS International Standards

Accounting Standards, ASC

Accounting Terms Dictionary
Definitions and Examples

U.S. GAAP Codification, IFRS, IFRS News and Updates, IFRS for SMEs

Principles of Accounting, Intermediate Accounting, Accounting Textbooks

Securities Law Library, U.S. Tax Code, IFRS U.S. GAAP Comparison

Accounting Terms Dictionary

Elements of Financial Statements

Elements of Financial Statements

1. Statement of financial position, Balance sheet
--> Assets
--> Liabilities
--> Shareholders' equity

2. Statement of comprehensive income, Income statement
--> Revenue
--> Expenses

[U.S. GAAP]
Net income = revenue - expenses
Comprehensive income = net income + other comprehensive income

[IFRS]
Profit or loss = revenue - expenses
Comprehensive income = profit or loss + other comprehensive income

3. Statement of cash flows
--> Cash flows from operating activities
--> Cash flows from investing activities
--> Cash flows from financing activities

4. Statement of changes in equity, Statement of shareholder equity
--> Beginning balances of the components of shareholders' equity
--> Changes in the components of shareholders' equity
--> Ending balances of the components of shareholders' equity

Index of Accounting Terms Dictionary

U.S. GAAP by Codification Topic

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

IFRS 1 - IFRS 9

IFRS Overview

IFRS 1: First-time adoption of International Financial Reporting Standards

IFRS 2: Share-based payment

IFRS 3: Business combinations

IFRS 4: Insurance contracts

IFRS 5: Non-current assets held for sale and discontinued operations

IFRS 6: Exploration for and evaluation of mineral resources

IFRS 7: Financial instruments: disclosures

IFRS 8: Operating segments

IFRS 9: Financial Instruments