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The scope of ASC 855, Subsequent Events, is broad and encompasses all subsequent events that are not addressed in other parts of US GAAP. For example, US GAAP specifically addresses the presentation and disclosure of subsequent events for income taxes (ASC 740-10-25-15), EPS (ASC 260-10-55-12), and gain contingencies (ASC 450-30-25-1). US GAAP also includes industry-specific subsequent events guidance, such as ASC 926-855, which addresses the treatment of a specific subsequent event in the film industry.
In addition to the FASB guidance, SEC registrants are required to evaluate the guidance within SAB Topic 4.C, Change in Capital Structure (see FSP 28.5.2).

PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

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