ABCD

Background
TM

The FASB Accounting Standards Codification TM Reference Guide

The FASB Accounting Standards Codification (ASC) is the exclusive authoritative reference for nongovernmental U.S. GAAP for use in financial statements issued for interim and annual periods ending after 1 September 15, 2009, except for SEC rules and interpretive releases, which also are authoritative GAAP for SEC registrants. The change was established by FASB Statement 168, which divides 2 nongovernmental U.S. GAAP into the authoritative Codification and guidance that is nonauthoritative, doing away with the previous four-level hierarchy. Statement 168 carries forward Statement 162s grandfathering provisions. They permitted an entity that followed specified industry practices that were recognized as authoritative in category D of the GAAP hierarchy as of March 15, 1992, to continue to follow those practices. In some cases, a new pronouncement allows some or all entities to continue to follow previous guidance for a specific class of transactions, 4 such as APB 25s guidance on accounting for share-based awards issued to employees prior to the effective date of Statement 123R for nonpublic entities that elected to apply that guidance prospectively. Users of the Codification will have access to grandfathered requirements within an archived section of the FASBs Codification Web site. The archive will also contain all previously issued FASB pronouncements.
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Topics, Subtopics, Sections, and Paragraphs

The Codification is currently organized into 90 different Topics. Each Topic contains an Overall Subtopic with guidance either that is self-contained because there are no other Subtopics or that applies to all other Subtopics within the Topic. Subtopics refer to subjects within the scope of a Topic. For example, operating leases and capital leases are two Subtopics of the Leases Topic. The guidance within each Subtopic, other than the Overall Subtopic, is specific to that Subtopic. Sections are devoted to portions of the subject matter covered in a Subtopic, including Recognition, Measurement, and Disclosure. The Section titles and organization are the same for all Subtopics. Sections are further broken down into subsections, paragraphs, and subparagraphs, as needed to cover the content.

Referencing the Codification

The FASB suggests the following approach for referencing Codification content from outside of the Codification: (i) Topics - FASB ASC Topic 305 for the Cash and Cash Equivalents Topic (ii) Subtopics - FASB ASC Subtopic 305-10 for the Overall Subtopic of Topic 305 (iii) Sections - FASB ASC Section 305-10-15 for the Scope Section of Subtopic 305-10 (iv) Paragraph - FASB ASC paragraph 305-10-15-2 for paragraph 2 of Section 305-10-15 (v) Subparagraph FASB ASC subparagraph 305-10-15-2(a) for subparagraph (a) of Section 305-10-15 We understand that when references to authoritative GAAP are included in financial reports, the SEC staff will expect registrants to cite the relevant parts of the Codification rather than legacy GAAP in financial statements for interim and annual periods ending after September 15, 2009. Although the SEC staff may not require registrants to amend filings merely to change GAAP references to the Codification, the staff may consider providing a reminder in comment letters not to refer to legacy GAAP in future filings. We also understand that registrants should not use Codification references for the SEC content that is in the Codification and instead should continue to refer to the applicable SEC rule or regulation (e.g., Regulation S-X or a Staff Accounting Bulletin). Financial statement references to legacy GAAP may be appropriate after the effective date of the Codification in limited situations. For example, references to grandfathered standards that are not included in the Codification may be appropriate. It may be appropriate to refer to legacy standards when disclosing the adoption of a new accounting pronouncement, including a pronouncement to be adopted in future reporting periods, when the guidance in that pronouncement has not yet been codified or is included throughout one or more ASC Topics that also contain guidance that was not affected by the accounting change.

Subsequent New GAAP

Future FASB accounting pronouncements will be designed to update the Codification. They will be referred to as Accounting Standards Updates and will be subject to the same due-process procedures currently in place for new accounting pronouncements, including public Board meetings and published exposure documents subject to public comment periods. Accounting Standards Update pronouncements will be identified by the year of issuance followed by a number locating the pronouncement within the sequence of updates issued during that year. For example, the designation for the first new accounting pronouncement issued during 2010 would take the form Accounting Standards Update No. 2010-01. Each pronouncement will consist of a summary, a basis for conclusions, and Codification update instructions. All authoritative GAAP issued by the FASB after July 1, 2009, will be published in this format, with no additional FASB Statements, FASB Interpretations, FASB Staff Positions, and EITF Abstracts.

Additional Information
KPMGs Defining Issues No. 09-30 describes the fundamentals of the FASB Accounting Standards Codification. The information contained herein is of a general nature and is not intended to address the specific circumstances of any individual or entity.

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FASB Accounting Standards Codification, available at asc.fasb.org. FASB Statement No. 168, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles, available at www.fasb.org. FASB Statement No. 162, The Hierarchy of Generally Accepted Accounting Principles, available at www.fasb.org. 4 APB Opinion No. 25, Accounting for Stock Issued to Employees, and FASB Statement No. 123 (revised 2006), Share-Based Payment, available at www.fasb.org. 2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.

ABCD
ASC Topics and Selected Subtopics and Subsections*
100 General Principles 105 Generally Accepted Accounting Principles 200 Presentation 205 Presentation of Financial Statements -20 Discontinued Operations 210 Balance Sheet -20 Offsetting 215 Statement of Shareholder Equity 220 Comprehensive Income 225 Income Statement -20 Extraordinary and Unusual Items -30 Business Interruption Insurance 230 Statement of Cash Flows 235 Notes to Financial Statements 250 Accounting Changes and Error Corrections 255 Changing Prices 260 Earnings Per Share -10 Overall - Master Limited Partnerships 270 Interim Reporting 272 Limited Liability Entities 274 Personal Financial Statements 275 Risks and Uncertainties 280 Segment Reporting 300 Assets 305 Cash and Cash Equivalents 310 Receivables -10 Overall - Acquisition, Development, and Construction Arrangements -20 Nonrefundable Fees and Other Costs -30 Loans and Debt Securities Acquired with Deteriorated Credit Quality -40 Troubled Debt Restructurings by Creditors 320 InvestmentsDebt and Equity Securities 323 InvestmentsEquity Method and Joint Ventures -30 Partnerships, Joint Ventures, and Limited Liability Entities -740 Income Taxes - Qualified Affordable Housing Project Investments 325 InvestmentsOther -20 Cost Method Investments -30 Investments in Insurance Contracts - Life Settlement Contracts -40 Beneficial Interests in Securitized Financial Assets 330 Inventory 340 Other Assets and Deferred Costs -20 Capitalized Advertising Costs -30 Insurance Contracts that Do Not Transfer Insurance Risk 350 IntangiblesGoodwill and Other -20 Goodwill -30 General Intangibles Other than Goodwill -40 Internal-Use Software -50 Website Development Costs 360 Property, Plant, and Equipment -10 Overall - Impairment or Disposal of Long-Lived Assets -20 Real Estate Sales

The FASB Accounting Standards Codification TM Reference Guide

400 Liabilities 405 Liabilities -20 Extinguishment of Liabilities -30 Insurance-Related Assessments 410 Asset Retirement and Environmental Obligations -20 Asset Retirement Obligations -30 Environmental Obligations 420 Exit or Disposal Cost Obligations 430 Deferred Revenue 440 Commitments -10 Overall - Unconditional Purchase Obligations 450 Contingencies -20 Loss Contingencies -30 Gain Contingencies 460 Guarantees -10 Overall - Product Warranties 470 Debt -20 Debt with Conversion and Other Options - Cash Conversion -30 Participating Mortgage Loans -40 Product Financing Arrangements -50 Modifications and Extinguishments -60 Troubled Debt Restructurings by Debtors 480 Distinguishing Liabilities from Equity 500 Equity 505 Equity -20 Stock Dividends and Stock Splits -30 Treasury Stock -50 Equity-Based Payments to Non-Employees -60 Spinoffs and Reverse Spinoffs 600 Revenue 605 Revenue Recognition -15 Products -20 Services -25 Multiple-Element Arrangements -30 Rights to Use -35 Construction-Type and Production-Type Contracts -40 Gains and Losses -45 Principal Agent Considerations -50 Customer Payments and Incentives 700 Expenses 705 Cost of Sales and Services 710 CompensationGeneral -10 Overall - Deferred Compensation Rabbi Trusts 712 CompensationNonretirement Postemployment Benefits 715 CompensationRetirement Benefits -20 Defined Benefit PlansGeneral -30 Defined Benefit PlansPension - Settlements, Curtailments, and Certain Termination Benefits -60 Defined Benefit PlansOther Postretirement - Medicare, Prescription Drug, Improvement, and Modernization Act - Settlements, Curtailments, and Certain Termination Benefits - Split-Dollar Life Insurance Arrangements -70 Defined Contribution Plans -80 Multiemployer Plans 718 CompensationStock Compensation -20 Awards Classified as Equity -30 Awards Classified as Liabilities -40 Employee Stock Ownership Plans - Leveraged Employee Stock Ownership Plans - Nonleveraged Employee Stock Ownership Plans -50 Employee Share Purchase Plans -740 Income Taxes 720 Other Expenses -15 Start-Up Costs -20 Insurance Costs - Retroactive Contracts - Claims-Made Contracts - Multiple-Year Retrospectively Rated Contracts -25 Contributions Made -30 Real and Personal Property Taxes -35 Advertising Costs -40 Electronic Equipment Waste Obligations -45 Business and Technology Reengineering 730 Research and Development -20 Research and Development Arrangements 740 Income Taxes -20 Intraperiod Tax Allocation -30 Other Considerations or Special Areas -270 Interim Reporting 800 Broad Transactions 805 Business Combinations -20 Identifiable Assets and Liabilities, and Any Noncontrolling Interest -30 Goodwill or Gain from Bargain Purchase, Including Consideration Transferred -40 Reverse Acquisitions -50 Related Issues - Acquisition of Assets Rather Than a Business - Transactions Between Entities Under Common Control - New Basis of Accounting (Pushdown) -740 Income Taxes 808 Collaborative Arrangements 810 Consolidation -10 Overall - Variable Interest Entities - Consolidation of Entities Controlled by Contract -20 Control of Partnerships and Similar Entities -30 Research and Development Arrangements 815 Derivatives and Hedging -10 Overall - Certain Contracts on Debt and Equity Securities -15 Embedded Derivatives -20 Hedging General -25 Fair Value Hedges -30 Cash Flow Hedges -35 Net Investment Hedges -40 Contracts in Entitys Own Equity -45 Weather Derivatives 820 Fair Value Measurements and Disclosures 825 Financial Instruments -10 Overall - Fair Value Option -20 Registration Payment Arrangements 830 Foreign Currency Matters -20 Foreign Currency Transactions -30 Translation of Financial Statements -230 Statement of Cash Flows -740 Income Taxes 835 Interest -20 Capitalization of Interest -30 Imputation of Interest 840 Leases -10 Overall - Lessees - Lessors -20 Operating Leases - Lessees - Lessors -30 Capital Leases - Lessees - Lessors -40 Sale-Leaseback Transactions - Lessees - Lessors - Real Estate 845 Nonmonetary Transactions -10 Overall - Purchases and Sales of Inventory with the Same Counterparty - Barter Transactions - Exchanges Involving Monetary Consideration - Exchanges of a Nonfinancial Asset for a Noncontrolling Ownership Interest 850 Related Party Disclosures 852 Reorganizations -20 Quasi-Reorganizations -740 Income Taxes 855 Subsequent Events 860 Transfers and Servicing -20 Sales of Financial Assets -30 Secured Borrowing and Collateral -40 Transfers to Qualifying Special Purpose Entities -50 Servicing Assets and Liabilities

ASC Sections*
05 Overview and Background 10 Objectives 15 Scope and Scope Exceptions 20 Glossary 25 Recognition 30 Initial Measurement 35 Subsequent Measurement 40 Derecognition 45 Other Presentation Matters 50 Disclosure 55 Implementation Guidance and Illustrations 60 Relationships 65 Transition and Open Effective Date Information 70 Grandfathered Guidance 75 XBRL Definitions S99 SEC Materials

SEC Content is denoted by an S preceding any Section of the Codification.

* Each Topic contains Subtopic 10 Overall that contains guidance that is either self-contained because there are no other Subtopics or applies to all other Subtopics within the Topic. Subtopic 10 has been shown for those that contain further specific guidance within subsections.

2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.

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Industry and Selected Subtopics**
905 Agriculture -205 Presentation of Financial Statements -310 Receivables -325 InvestmentsOther -330 Inventory -360 Property, Plant, and Equipment -405 Liabilities -505 Equity -605 Revenue Recognition -705 Cost of Sales and Services 908 Airlines -280 Segment Reporting -330 Inventory -350 IntangiblesTakeoff and Landing Slots -360 Property, Plant, and Equipment -605 Revenue Recognition -710 CompensationGeneral -720 Other Expenses -845 Nonmonetary Transactions 910 ContractorsConstruction -20 Contract Costs -235 Notes to Financial Statements -310 Receivables -330 Inventory -340 Other Assets and Deferred Costs -360 Property, Plant, and Equipment -405 Liabilities -605 Revenue Recognition -810 Consolidation 912 ContractorsFederal Government -20 Contract Costs -210 Balance Sheet -225 Income Statement -235 Notes to Financial Statements -255 Changing Prices -275 Risks and Uncertainties -310 Receivables -330 Inventory -405 Liabilities -450 Contingencies -605 Revenue Recognition -705 Cost of Sales and Services -715 CompensationRetirement Benefits -730 Research and Development -835 Interest 915 Development Stage Entities -205 Presentation of Financial Statements -210 Balance Sheet -215 Statement of Shareholder Equity -225 Income Statement -230 Statement of Cash Flows -235 Notes to Financial Statements -340 Other Assets and Deferred Costs -605 Revenue Recognition -810 Consolidation 920 EntertainmentBroadcasters -310 Receivables -350 IntangiblesGoodwill and Other -405 Liabilities -440 Commitments -605 Revenue Recognition -845 Nonmonetary Transactions 922 EntertainmentCable Television -350 IntangiblesGoodwill and Other -360 Property, Plant, and Equipment -430 Deferred Revenue -605 Revenue Recognition -720 Other Expenses -835 Interest

The FASB Accounting Standards Codification TM Reference Guide

924 EntertainmentCasinos -280 Segment Reporting -405 Liabilities -605 Revenue Recognition -720 Other Expenses -740 Income Taxes 926 EntertainmentFilms -20 Other AssetsFilm Costs -230 Statement of Cash Flows -330 Inventory -405 Liabilities -430 Deferred Revenue -605 Revenue Recognition -705 Cost of Sales and Services -720 Other Expenses -835 Interest -845 Nonmonetary Transactions -855 Subsequent Events 928 EntertainmentMusic -340 Other Assets and Deferred Costs -405 Liabilities -430 Deferred Revenue -440 Commitments -605 Revenue Recognition -720 Other Expenses 930 Extractive ActivitiesMining -330 Inventory -360 Property, Plant, and Equipment -715 CompensationRetirement Benefits -805 Business Combinations -810 Consolidation 932 Extractive ActivitiesOil and Gas -225 Income Statement -235 Notes to Financial Statements -270 Interim Reporting -280 Segment Reporting -323 InvestmentsEquity Method and Joint Ventures -330 Inventory -350 IntangiblesGoodwill and Other -360 Property, Plant, and Equipment -470 Debt -605 Revenue Recognition -720 Other Expenses -740 Income Taxes -810 Consolidation -815 Derivatives and Hedging -835 Interest 940 Financial ServicesBroker and Dealers -20 Broker-Dealer Activities -310 Receivables -320 InvestmentsDebt and Equity Securities -325 InvestmentsOther -340 Other Assets and Deferred Costs -405 Liabilities -605 Revenue Recognition -810 Consolidation -820 Fair Value Measurements and Disclosures 942 Financial ServicesDepository and Lending -210 Balance Sheet -225 Income Statement -230 Statement of Cash Flows -235 Notes to Financial Statements -305 Cash and Cash Equivalents -310 Receivables -320 InvestmentsDebt and Equity Securities -325 InvestmentsOther -360 Property, Plant, and Equipment -405 Liabilities -470 Debt 942 Financial ServicesDepository and Lending (continued) -505 Equity -605 Revenue Recognition -720 Other Expenses -740 Income Taxes -805 Business Combinations -810 Consolidation -825 Financial Instruments 944 Financial ServicesInsurance -20 Insurance Activities -30 Acquisition Costs -40 Claim Costs and Liabilities for Future Policy Benefits -50 Policyholder Dividends -60 Premium Deficiency and Loss Recognition -80 Separate Accounts -210 Balance Sheet -225 Income Statement -235 Notes to Financial Statements -310 Receivables -320 InvestmentsDebt and Equity Securities -325 InvestmentsOther -340 Other Assets and Deferred Costs -360 Property, Plant and Equipment -405 Liabilities -470 Debt -505 Equity -605 Revenue Recognition -720 Other Expenses -740 Income Taxes -805 Business Combinations -815 Derivatives and Hedging -825 Financial Instruments 954 Health Care Entities (continued) -310 Receivables -320 InvestmentsDebt and Equity Securities -325 InvestmentsOther -340 Other Assets and Deferred Costs -360 Property, Plant, and Equipment -405 Liabilities -430 Deferred Revenue -440 Commitments -450 Contingencies -460 Guarantees -470 Debt -605 Revenue Recognition -720 Other Expense -740 Income Taxes -810 Consolidation -815 Derivatives and Hedging -825 Financial Instruments 958 Not-for-Profit Entities -20 Financially Interrelated Entities -30 Split-Interest Agreements -205 Presentation of Financial Statements -210 Balance Sheet -225 Income Statement -230 Statement of Cash Flows -310 Receivables -320 InvestmentsDebt and Equity Securities -325 InvestmentsOther -360 Property, Plant, and Equipment -405 Liabilities -450 Contingencies -470 Debt -605 Revenue Recognition -715 Compensation-Retirement Benefits -720 Other Expenses -810 Consolidation -815 Derivatives and Hedging -840 Leases 970 Real EstateGeneral (continued) -810 Consolidation -835 Interest 972 Real EstateCommon Interest Realty Associations -205 Presentation of Financial Statements -235 Notes to Financial Statements -360 Property, Plant, and Equipment -430 Deferred Revenue -605 Revenue Recognition -720 Other Expenses -740 Income Taxes -850 Related Party Disclosures 974 Real EstateReal Estate Investment Trusts -323 InvestmentsEquity Method and Joint Ventures -605 Revenue Recognition -810 Consolidation -835 Interest -840 Leases 976 Real EstateRetail Land -310 Receivables -330 Inventory -605 Revenue Recognition -705 Cost of Sales and Services 978 Real EstateTime-Sharing Activities -230 Statement of Cash Flows -250 Accounting Changes and Error Corrections -310 Receivables -330 Inventory -340 Other Assets and Deferred Costs -605 Revenue Recognition -720 Other Expenses -810 Consolidation -840 Leases

946 Financial ServicesInvestment Companies -20 Investment Company Activities 980 Regulated Operations -205 Presentation of Financial Statements -20 Discontinuation of Rate-Regulated Accounting -210 Balance Sheet -250 Accounting Changes and Error Corrections 960 Plan AccountingDefined Benefit Pension Plans -225 Income Statement -340 Other Assets and Deferred Costs -230 Statement of Cash Flows -20 Accumulated Plan Benefits -350 IntangiblesGoodwill and Other -235 Notes to Financial Statements -30 Net Assets Available for Plan Benefits -360 Property, Plant, and Equipment -305 Cash and Cash Equivalents -40 Terminating Plans -405 Liabilities -310 Receivables -205 Presentation of Financial Statements -410 Asset Retirement and Environmental -320 InvestmentsDebt and Equity Securities -310 Receivables Obligations -323 InvestmentsEquity Method and Joint Ventures -325 InvestmentsOther -450 Contingencies -360 Property, Plant, and Equipment -405 Liabilities -470 Debt -505 Equity 962 Plan AccountingDefined Contribution Pension -605 Revenue Recognition -605 Revenue Recognition Plans -710 CompensationGeneral -740 Income Taxes -40 Terminating Plans -715 CompensationRetirement Benefits -810 Consolidation -205 Presentation of Financial Statements -740 Income Taxes -830 Foreign Currency Matters -235 Notes to Financial Statements -810 Consolidation 948 Financial ServicesMortgage Banking -310 Receivables -835 Interest -310 Receivables -325 InvestmentsOther -840 Leases -340 Other Assets and Deferred Costs 965 Plan AccountingHealth and Welfare Benefit 985 Software -605 Revenue Recognition Plans -20 Costs of Software to Be Sold, Leased, or -720 Other Expenses -20 Net Assets Available for Plan Benefits Marketed -810 Consolidation -30 Plan Benefit Obligations -330 Inventory 950 Financial ServicesTitle Plant -40 Terminating Plans -350 IntangiblesGoodwill and Other -350 IntangiblesGoodwill and Other -205 Presentation of Financial Statements -605 Revenue Recognition -310 Receivables -705 Cost of Sales and Services 952 Franchisors -320 InvestmentsDebt and Equity Securities -730 Research and Development -340 Other Assets and Deferred Costs -325 InvestmentsOther -845 Nonmonetary Transactions -440 Commitments -360 Property, Plant, and Equipment -605 Revenue Recognition 995 U.S. Steamship Entities -720 Other Expenses 970 Real EstateGeneral -740 Income Taxes -810 Consolidation -230 Statement of Cash Flows -323 InvestmentsEquity Method and Joint Ventures 954 Health Care Entities -340 Other Assets and Deferred Costs -205 Presentation of Financial Statements -360 Property, Plant, and Equipment -210 Balance Sheet -470 Debt -225 Income Statement -605 Revenue Recognition -280 Segment Reporting -720 Other Expenses -305 Cash and Cash Equivalents

** Each Topic contains Subtopic 10 Overall that contains guidance that is either self-contained because there are no other Subtopics or applies to all other Subtopics within the Topic. Subsections within each Industry Subtopic have not been included in this listing.

2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.