ASC 210-20: Balance Sheet-Offsetting

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Note that this Generator applies only to privately-held entities (i.e. non-SEC registrants). For assistance with offsetting standards for SEC registrants, see the SEC section of theGAAPpost.com.

ASC 210-20 Offsetting: This Generator (located in the "Attachments" section at the bottom of this page) will assist you in determining with balances meet the criteria required for offsetting on the balance sheet under U.S. generally accepted accounting principles applicable to privately-held entities.

Entities in the following industries should consider specific industry guidance in the FASB Codification:

  • Contractors-Federal Government (ASC 912-210)
  • Financial Services-Depository and Lending (ASC 942-210)

Overview

In order to offset assets and liabilities in the statement of financial condition, the terms of the underlying transactions must meet the specific criteria set forth in ASC 210-20. This Generator (located in the "Attachments" section at the bottom of this page) will help you determine whether balances and/or transactions fall with the scope of ASC 210-20 and, if so, whether the balances (including balances associated with repurchases and reverse repurchases under master nettign arrangements) qualify for offsetting.

For a brief overview of the criteria for offsetting assets and liabilities under ASC 210-20, watch the following video:

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Attachments:
Download this file (210-20 Offsetting (Demo).xlsm)210-20 Offsetting (Demo).xlsm[ ]126 kB

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