balance sheet presentation

ASC 210-915 formerly provided balance sheet presentation guidance for development stage entities (entities devoting substantially all efforts to establishing a new business). Every paragraph in the subtopic — the overview (210-915-05-1), scope (210-915-15-1), and other presentation guidance (210-915-45-1) — was superseded by ASU 2014-10. As a result, there is no remaining incremental balance sheet presentation requirement for development stage entities; such entities follow the same guidance in ASC 210 as any other entity.

ASC 210-940 addresses how brokers and dealers offset and combine amounts presented in the balance sheet. It contains no independent offsetting rules; it simply directs preparers to the general offsetting guidance in Section 210-20-45 and adopts the scope of the Financial Services—Brokers and Dealers Overall Subtopic (940-10-15).

ASC 405-50 is a disclosure-only subtopic requiring the buyer in a supplier finance program (also called reverse factoring, payables finance, or structured payables) to disclose qualitative and quantitative information about the program. A supplier finance program exists when the buyer agrees with a finance provider or intermediary, confirms supplier invoices as valid to that party, and the supplier can request early payment from a party other than the buyer (405-50-15-2). The subtopic does not address recognition, measurement, or balance sheet presentation of the obligation, or the accounting by other parties (405-50-10-2).

This Subtopic tells a time-sharing developer-seller how to account for special-purpose entities (SPEs) it establishes in connection with selling time-sharing intervals. If the SPE structure is legally required by the jurisdiction in order to sell intervals to nonresident customers and the SPE holds no assets other than the time-sharing intervals and has no debt, the SPE is viewed as lacking economic substance and existing solely to facilitate sales; the seller then reports the unsold interests in the SPE as time-sharing inventory on its balance sheet rather than applying consolidation or equity/cost method accounting. All other SPEs are evaluated under the normal consolidation, VIE, and investment models.