At 3/7/11 of this year SEC issued a new SAB 114 to conform the SAB Codification to more closely conform to FASB ASCs where able to do so. You can read SAB 114 below and follow links from Our Look at SEC SAB Codifications to see places where additional information insight beyong FASB ASCs and SEC Regulations may be helpful in communicating Accounting Results to the SEC.
These are non-authoritative guidelines, explanatory notes that can be used for additional consideration in providing FASB ASC based financials and seeking to meet the requirements of SEC Regulations on reporting.
Read on to learn more:
SEC SAB 114 - Conforming to FASBs
SAB 114 now being covered above - let's move forward to the SAB Codification.
Note: Staff Accounting Bulletins reflect the Commission staff's views regarding accounting-related disclosure practices. They represent interpretations and policies followed by the Division of Corporation Finance and the Office of the Chief Accountant in administering the disclosure requirements of the federal securities laws.
SEC Staff Accounting Bulletin: Codification of Staff Accounting Bulletins
|TABLE OF CONTENTS|
|Topic 1:||Financial Statements|
|Topic 2:||Business Combinations|
|Topic 3:||Senior Securities|
|Topic 4:||Equity Accounts|
|Topic 5:||Miscellaneous Accounting|
|Topic 6:||Interpretations of Accounting Series Releases and Financial Reporting Releases|
|Topic 7:||Real Estate Companies|
|Topic 8:||Retail Companies|
|Topic 9:||Finance Companies|
|Topic 10:||Utility Companies|
|Topic 11:||Miscellaneous Disclosure|
|Topic 12:||Oil and Gas Producing Activities|
|Topic 13:||Revenue Recognition|
|Topic 14:||Share-Based Payment|
Information is valid as of 3/18/11 per SEC website - for best results check in with the SEC for updates. You must confirm ALL SEC Rules and Regulations for current validity as relying or filing. As noted these are guidance points that are not Regulations but rather are an SEC reference view on applying certain Accounting practices under SEC Rules for purposes of SEC facing reporting.
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