Tuesday, November 8, 2011

SEC Staff Accounting Bulletin: Codification of Staff Accounting Bulletins

SEC Staff Accounting Bulletins provide additional Guidelines on how the SEC Interprets SEC Rules from the Accounting Perspective. These staff Accounting Bulletins have been organized into a Codification Format to better match FASB ASCs.

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

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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