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FASB makes technical corrections and improvements to Codification

  • FASB document Image

Jul 17, 2018

The FASB has issued Accounting Standards Update (ASU) No. 2018-09, “Codification Improvements.”

The ASU’s amendments “clarify, correct errors in, or make minor improvements to the Codification.” Specifically, the ASU makes improvements to the following ASC topics:

  • ASC 220-10, Income Statement — Reporting Comprehensive Income.
  • ASC 470-50, Debt — Modifications and Extinguishments.
  • ASC 480-10, Distinguishing Liabilities From Equity.
  • ASC 718-740, Compensation — Stock Compensation — Income Taxes.
  • ASC 805-740, Business Combinations — Income Taxes.
  • ASC 815-10, Derivatives and Hedging.
  • ASC 820-10, Fair Value Measurement.
  • ASC 940-405, Financial Services — Brokers and Dealers — Liabilities.
  • ASC 962-325, Plan Accounting — Defined Contribution Pension Plans — Investments — Other.

For more in­for­ma­tion, see the ASU on the FASB’s Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.