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to be measured at fair value under Topic 805, regardless of whether those assets and liabilities are related to leases.

58. Amend paragraph 830-10-15-6 and its related heading, with a link to transition paragraph 958-805-65-1, as follows:

  • >

    > Translation Afterafter a Business Combination or a Combination

Accounted for by a Not-for-Profit Entity

830-10-15-6 The functional currency approach also applies to translation after a business combination.combination or a combination accounted for by a not-for- profit entity. [FAS 052, paragraph 101, sequence 277.1.1] See paragraph 830-30-45-11 for guidance.

59.

Amend paragraph 840-10-25-2, with a link to transition paragraph 958-805-

65-1, as follows:

840-10-25-2 The remaining guidance in this Subsection addresses the four lease classification criteria and their application and is organized as follows:

  • a.

    Lease-term criterion—fiscal funding clauses

  • b.

    Minimum-lease-payments criterion

  • c.

    Guarantees and indemnifications

  • d.

    Obligation to retire the leased asset

  • e.

    Classification of a lease involving real estate

  • f.

    Classification of a lease between related parties

  • g.

    Classification of a lease of an acquiree.entity acquired in a business

combination.

60.

Amend paragraph 840-10-25-27 and its related heading, with no change to

transition, as follows:

  • >

    Classification of a Lease of an AcquireeEntity Acquired in a Business

Combination

840-10-25-27 In a business combination or an acquisition by a not-for-profit entity, the acquiring entity shall retain the previous classification in accordance with this Subtopic for the leases of an acquired entity unless the provisions of the lease are modified as indicated in paragraph 840-10-35-5. That paragraph addresses the accounting for a lease modification that was planned at the time of a business combination but made after the acquisition date.

61.

Amend paragraph 840-10-35-8, with a link to transition paragraph 958-805-

65-1, as follows:

840-10-35-8 The guidance in the preceding two paragraphs does not address the amortization of intangible assets that may be recognized in a business combination or an acquisition by a not-for-profit entity for the favorable or unfavorable terms of a lease relative to market prices.

96

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