Accounting Standards Codification (ASC) Topic 940, "Financial Services - Brokers and Dealers," provides guidance on accounting for commission revenue recognition in the brokerage industry. Brokers and dealers generate commission revenue by executing securities transactions on behalf of clients, providing investment advice, or facilitating other financial services. Proper accounting for commission revenue recognition is essential to accurately reflect the financial position and performance of brokers and dealers. This article will explain the concept of commission revenue recognition transactions under ASC 940 and provide examples of journal entries that illustrate the proper accounting treatment for these transactions.
Accounting Standards Codification (ASC) Topic 930, "Extractive Activities - Mining," provides guidance on accounting for depletion expense in the mining industry. Depletion is a method of allocating the cost of a natural resource, such as minerals or oil, over its expected useful life or production period. Proper accounting for depletion expense is essential to accurately reflect the mining company's financial position and performance. This article will explain the concept of depletion expense transactions under ASC 930 and provide examples of journal entries that illustrate the proper accounting treatment for these transactions.
Accounting Standards Codification (ASC) Topic 920, "Entertainment - Broadcasters," provides guidance on accounting for program licensing transactions in the broadcasting industry. Broadcasters often acquire licenses to air television programs, movies, and other content from content producers or distributors. Proper accounting for program licensing transactions is essential to accurately reflect the broadcaster's financial position and performance. This article will explain the concept of program licensing transactions under ASC 920 and provide examples of journal entries that illustrate the proper accounting treatment for these transactions.
Accounting Standards Codification (ASC) Topic 908-360, "Airlines - Property, Plant, and Equipment," provides guidance on accounting for aircraft depreciation in the airline industry. Aircraft are significant assets for airlines and are subject to depreciation over their useful lives. Proper accounting for aircraft depreciation is essential to accurately reflect the airline's financial position and performance. This article will explain the concept of aircraft depreciation transactions under ASC 908-360 and provide examples of journal entries that illustrate the proper accounting treatment for these transactions.
Accounting Standards Codification (ASC) Topic 825-10, "Financial Instruments - Overall," provides guidance on the fair value disclosure requirements for financial instruments. These disclosure requirements aim to provide investors and other stakeholders with transparent and relevant information about the fair value of a company's financial instruments. This article will explain the concept of fair value disclosure transactions under ASC 825-10 and provide examples of journal entries that illustrate the proper accounting treatment for these transactions.