Accounting Changes and Error Corrections—a replacement of APB Opinion No. 20 and FASB Statement No. 3

Status

Issued:
May 2005

Effective Date:
For accounting changes and corrections of errors made in fiscal years beginning after December 15, 2005

Affects:
Amends ARB 43, Chapter 2A, paragraph 3
Supersedes APB 20
Amends APB 22, paragraph 14
Amends APB 25, paragraph 15
Amends APB 28, paragraphs 24, 26, 29, 30(a), and 30(i)
Deletes APB 28, paragraphs 25 and 27 through 27D and footnote 5
Amends APB 30, paragraph 25 and footnote 4
Supersedes FAS 3
Amends FAS 16, footnote 3
Deletes FAS 16, footnote 6
Amends FAS 19, paragraphs 30 and 35
Amends FAS 25, paragraph 4
Deletes FAS 25, footnote 1
Amends FAS 52, paragraph 45
Amends FAS 67, paragraph 12
Amends FAS 71, paragraph 31
Supersedes FAS 73
Amends FAS 123(R), paragraphs 38 and A23
Amends FAS 128, paragraphs 15, 37, 148, and 149
Amends FAS 130, paragraph 131
Amends FAS 131, paragraphs 31 through 33
Amends FAS 141, paragraphs 55 and 58
Amends FAS 143, paragraph 15
Amends FAS 144, paragraphs 9, 28, and 43 and footnotes 7 and 24
Amends FIN 1, paragraphs 1 and 5
Amends FIN 7, paragraph 5
Amends FIN 18, paragraphs 64 and 71 and footnote 1
Deletes FIN 18, paragraph 21
Supersedes FIN 20
Effectively amends FSP FAS 106-2, paragraph 29

Affected by:
Paragraph 2(b) amended by FAS 162, paragraph B5
Paragraph 2(f) amended by FAS 141(R), paragraph E4(c)
Paragraph 24 amended by FAS 141(R), paragraph E31
Paragraph 25 amended by FAS 165, paragraph B12
Footnote 1 deleted by FAS 162, paragraph B5

Issues Discussed by FASB Emerging Issues Task Force (EITF)

Affects:
No EITF Issues

Interpreted by:
No EITF Issues

Related Issues:
EITF Issues No. 06-3 and 06-9 and Topic No. D-1


_____________________________
^*Note: Amendments as a result of the issuance of FAS 141(R) are effective for business combinations with an acquisition date on or after the beginning of the first annual reporting period beginning on or after 12/15/08.
^||Note: Amendments as a result of FAS 162 are effective 60 days following the SEC’s approval of the PCAOB’s amendments to AU Section 411, The Meaning of Present Fairly in Conformity With Generally Accepted Accounting Principles.


Abbreviations for Accounting Pronouncements
FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides