2015.09.30 - Q3 2015 - Proposed 2015 FASB Implementation ... · 30/09/2015 · Update September...

Ä 2015 Workiva Company Confidential

Proposed 2015 FASBImplementation GuidesUpdate

September 30, 2015


John MueheSenior Professional Services Manager

Presenter


Legal NoticeThe information contained in this webinar is for general informational purposesonly.ÅThe information is provided by Workiva Inc., and while we endeavor to keepthe information up to date and correct, we make no representations or warranties ofany kind, express or implied, about the completeness, accuracy, reliability,suitability, or availability with respect to the information, products, services orrelated graphics contained in the webinar for any purpose.ÅAny reliance you placeon this information is therefore strictly at your own risk. In no event will Workiva Inc.be liable for any loss or damage including without limitation, indirect orconsequential loss or damage, or any loss or damage whatsoever arising from loss ofdata or profits arising out of, or in connection with, your use of this webinar.


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Proposed 2015 FASBImplementation GuidesUpdate


Agenda

Ç Overview of FASB Implementation GuidesÇ Other Comprehensive IncomeÇ Highlights from:

Ç Measurement Date Practical Expedient for DefinedBenefit Plans

Ç Disposal Groups and Discontinued Operations


Overview of FASBImplementation Guides


Accessing the FASB Guides

FASB.org > Taxonomy (XBRL) >Implementation andStyle GuidesÇ Proposed

implementation guidesÇ Final implementation

guides


Purpose

FASB XBRL Implementation Guides provide:Ç Additional insight for preparersÇ Supplemental guidance for taxonomy application

Ç Standard approach to promote consistencyÇ Reference material for other constituents


Other ComprehensiveIncome


Other Comprehensive Income

Ä Purpose of the Implementation GuideÄ Overall changes in the 2015 TaxonomyÄ Select examples



Purpose of the Implementation GuideÇ Promote consistency and improve discovery

Ç Modeling of transactions related to changes in accumulated othercomprehensive income (AOCI)

Ç Modeling of overlapping values for AOCI and other comprehensiveincome (OCI)



Ä AOCI group relocated under stockholders'equity

Ä Accommodate disclosures related to parent,noncontrolling interest, and total amountsÇ New equity component membersÇ New, modified, and reorganized line item concepts


Other Comprehensive IncomeAOCI group relocated under stockholders' equity

2014 Taxonomy

2015 Taxonomy


Other Comprehensive IncomeExisting AOCI members modified to parents only

2014 Taxonomy

2015 Taxonomy

Main update:automatic 1-to-1 migration


Other Comprehensive IncomeNew equity component members added

2014 Taxonomy

2015 Taxonomy

Manual update required forAOCI roll forward including NCI


Other Comprehensive IncomeExisting AOCI members modified to parents only

AOCI[Member]

NCI[Member]

NCI's shareParent's share only


Other Comprehensive IncomeNew equity component members added

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

AOCIAttributable toNoncontrolling

Interest[Member]

AOCI includingPortion

Attributable toNoncontrolling

Interest[Member]

Tie to equity stmtEquivalent to B/S

AOCIAttributable

to Parent[Member]

New AOCI members


Other Comprehensive IncomeNew, modified, and reorganized line item concepts

2014 Taxonomy 2015 Taxonomy

New organization betweenparent and including NCI




Roll forward remodeled to be consistentwith equity statements tagging




Existing OCI concepts modifiedto be including NCI portion




New OCI concepts added for parent only



2015 Taxonomy

New tax elementsadded for

reclassifications


Other Comprehensive IncomeUse OCI detail components by before tax, tax, or after tax concepts?



Don't use specific OCI line itemsX



Use OCI and reclassification concepts (before tax, tax, and net of tax)+ AOCI equity component members


Other Comprehensive IncomeÄ Carefully examine elements between parent, NCI, and

including NCIÇ Manual migration may be required

Ä Remodeled OCI and AOCI disclosuresÇ Manually migrate beginning/ending balances in roll forwardsÇ Consistent modeling with equity statementsÇ Remodeled reclassification out of AOCIÉpension items with no

income statement locationsÇ OCI details outside of face statementsÉuse dimensional approach

Ä Proposed guide is subject to change


Measurement DatePractical Expedient forDefined Benefit Plans


Measurement Date for Defined Benefit Plan

SummaryÇ ASU 2015-04: Compensation-Retirement BenefitsÇ Overview of proper application of date contextÇ Illustrates modeling related to practical expedient for the

measurement dateÇ Reconciliation after measurement date, before fiscal year endÇ Reconciliation before measurement date, after fiscal year end


Measurement Date for Defined Benefit PlanAllowing breakdown of FV of plan assets as of "bank statement" (measurement) date vs. reportingperiod end (non-issue when reporting period end is the same as the "bank statement" date)

Measurement date

Balance Sheet date

Made add'l contribution

Made add'l settlement } Before period end(B/S date after bankstatement date)

Base case


Measurement Date for Defined Benefit Plan"Bank statement" cutoff could be before or after reporting period end (i.e., non-calendar fiscal periods)

Made add'l contribution

Made add'l settlement } After period end(B/S date before bankstatement date)

Measurement date

Balance Sheet date


Disposal Groups andDiscontinued Operations


Disposal Groups and Discontinued Operations

SummaryÇ ASU 2014-08: Reporting Discontinued Operations

Ç Qualification criteria changeÇ New "Disposal Group Classification [Axis]" and members

Ç Additional methods of disposalÇ No dimensions on entity-wide amounts


Disposal Groups and Discontinued OperationsÇ What qualifies for discontinued operations treatment changed

Ç Previous criteria Ñ cash flow eliminated and no significant continuing involvementÇ Current criteria Ñ disposals of components that represent a strategic shift that has a major effect on entity's

operations

} New method ofdisposalmembers addedto 2015 UGT

(re-evaluate ifexisting memberapplied is themost specific)


XBRL Training OptionsNew XBRL E-Learning Modules: 30 self-paced online interactive lessons(Email requests to [email protected])

XBRL On-site Training: One- or two-day customizable training in your office(Contact your XBRL account executive for additional information)

XBRL Regional All-Day Training: In-depth and hands-on workshops(Visit workiva.com/xbrltraining or email [email protected])

Upcoming 2015 dates and locations

Location Level I (basic/intermediate) Level II (intermediate/advanced)

Chicago November 18 November 19

New York City November 18 November 19

Columbus, Ohio December 1 December 2

Seattle December 8 December 9

Los Angeles December 16 December 17

xbrl.training%40workiva.com

https://www.workiva.com/xbrltraining

xbrl.training%40workiva.com


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2015.09.30 - Q3 2015 - Proposed 2015 FASB Implementation ... · 30/09/2015 · Update September...

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