Читать книгу Wiley GAAP: Financial Statement Disclosure Manual - Joanne M. Flood - Страница 40

Financial statement classification is a frequent topic of SEC comment letters. While SEC rules only apply to public entities, preparers of financial statements can benefit from the findings of SEC reviewers. The classifications of current and noncurrent assets and liabilities, including debt, have been a source of SEC staff comments. Preparers should look to the guidance in ASC 210‐10‐45 and the discussion in this chapter when preparing classified balance sheets to determine whether an item should be classified as current or noncurrent.

Another item that appears in SEC comments relates to the disaggregation of assets and liabilities. The SEC requires disclosure on the face of the financial statements or in the notes items in excess of 5% of total assets and total liabilities, respectively. Again, this is not required for non‐SEC filers, but may be a benchmark for preparers to consider when deciding which items to disaggregate.