Authoritative Accounting Guidance New Accounting Standards Codification (ASC) References Former References FASB ASC 450-20, FASB Statement No. 5, Contingencies - Loss Accounting for Contingencies Contingencies FASB ASC 310-10-35-2 through 30, FASB Statement No. 114, Accounting by Receivables – Overall - Subsequent Creditors for Impairment of a Loan Measurement Impairment – FASB ASC 310-20-35, FASB Emerging Issues Task Force (EITF) No. Receivables – 01-7, Nonrefundable Fees and Other Costs Creditor’s Accounting for a Modification – Subsequent Measurement or Exchange of Debt Instruments FASB ASC 310-40, FASB Statement No. 15, Receivables - Troubled Accounting by Debtors Debt Restructurings by Creditors and Creditors for Troubled Debt Restructuring; and FASB Technical Bulletin No. 80-2 Classification of Debt Restructurings by Debtors and Creditors FASB ASC 470-60, FASB Statement No. 15, Debt Troubled Debt Accounting by Debtors – Restructurings by Debtors and Creditors for Troubled Debt Restructurings; and FASB EITF No. 02-4, Determining Whether a Debtor’s Modification or Exchange of Debt Instrument is within the Scope of FASB Statement No. 15 FASB ASC 820, FASB Statement No. 157, Fair Value Measurements Fair Value and Disclosures Measurements FASB ASC 825-10-35-1 through 3, American Institute of Certified Public Accountants (AICPA) Statement of Position Financial Instruments Overall - Subsequent – Measurement - Credit Losses on Financial Accounting by Certain Entities (Including Instruments with Credit Entities with Trade Receivables) That Lend to or Risk Finance the Activities of Others Non-authoritative Accounting Guidance In December 2008, the Center for Audit Quality, an affiliate of the AICPA, issued Application of Statement 114 to Modifications of Residential Mortgage Loans that Qualify as Troubled Debt Restructurings Attachment 3 Valuation Concepts for Income Producing Real Estate
Authoritative Accounting Guidance New Accounting Standards Codification (ASC) References Former References FASB ASC 450-20, Contingencies - Loss Contingencies FASB Statement No. 5, Accounting for Contingencies FASB ASC 310-10-35-2 through 30, Receivables – Overall - Subsequent Measurement – Impairment FASB Statement No. 114, Accounting by Creditors for Impairment of a Loan FASB ASC 310-20-35, Receivables – Nonrefundable Fees and Other Costs – Subsequent Measurement FASB Emerging Issues Task Force (EITF) No. 01-7, Creditor’s Accounting for a Modification or Exchange of Debt Instruments FASB ASC 310-40, Receivables - Troubled Debt Restructurings by Creditors FASB Statement No. 15, Accounting by Debtors and Creditors for Troubled Debt Restructuring; and FASB Technical Bulletin No. 80-2 Classification of Debt Restructurings by Debtors and Creditors FASB ASC 470-60, Debt – Troubled Debt Restructurings by Debtors FASB Statement No. 15, Accounting by Debtors and Creditors for Troubled Debt Restructurings; and FASB EITF No. 02-4, Determining Whether a Debtor’s Modification or Exchange of Debt Instrument is within the Scope of FASB Statement No. 15 FASB ASC 820, Fair Value Measurements and Disclosures FASB Statement No. 157, Fair Value Measurements FASB ASC 825-10-35-1 through 3, Financial Instruments – Overall - Subsequent Measurement - Credit Losses on Financial Instruments with Credit Risk American Institute of Certified Public Accountants (AICPA) Statement of Position Accounting by Certain Entities (Including Entities with Trade Receivables) That Lend to or Finance the Activities of Others Non-authoritative Accounting Guidance In December 2008, the Center for Audit Quality, an affiliate of the AICPA, issued Application of Statement 114 to Modifications of Residential Mortgage Loans that Qualify as Troubled Debt Restructurings Attachment 3 Valuation Concepts for Income Producing Real Estate
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