Expand
Resize
Add to favorites
ASC 820 does not eliminate certain practicability exceptions presented in other accounting standards. ASC 820-10-15-3 describes those practicability exceptions, which include:
  • Measurements that use a transaction price (an entry price) as an exit price at initial recognition
    For example, ASC 820 does not impact the ability under ASC 460, Guarantees, to initially measure the fair value (an exit price) of a guarantee using a transaction price (an entry price).
  • Instruments for which fair value is not reasonably determinable such as those within the scope of ASC 845, Nonmonetary Transactions, ASC 410, Asset Retirement and Environmental Obligations, ASC 420, Exit or Disposal Cost Obligations, and the Retirement Benefits guidance under ASC 715-30 and ASC 715-60 (participation rights)
  • Certain assets acquired and liabilities assumed in a business combination measured under alternative measurement methods in ASC 805-20-30-10
  • Financial assets or financial liabilities of a collateralized financing entity when the financial assets or financial liabilities are measured using the measurement alternative (see FV 6.2.7.1)
  • Instruments for which fair value cannot be reasonably estimated, such as noncash consideration promised in a contract under ASC 606
Expand

Welcome to Viewpoint, the new platform that replaces Inform. Once you have viewed this piece of content, to ensure you can access the content most relevant to you, please confirm your territory.

Your session has expired

Please use the button below to sign in again.
If this problem persists please contact support.

signin option menu option suggested option contentmouse option displaycontent option contentpage option relatedlink option prevandafter option trending option searchicon option search option feedback option end slide