2015.09.30 - q3 2015 - proposed 2015 fasb implementation ... · 30/09/2015 · update september...
TRANSCRIPT
Ä 2015 Workiva Company Confidential
Proposed 2015 FASBImplementation GuidesUpdate
September 30, 2015
Ä 2015 Workiva Company Confidential
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.
Ä 2015 Workiva Company Confidential
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
Ä 2015 Workiva Company Confidential
Accessing the FASB Guides
FASB.org > Taxonomy (XBRL) >Implementation andStyle GuidesÇ Proposed
implementation guidesÇ Final implementation
guides
Ä 2015 Workiva Company Confidential
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
Ä 2015 Workiva Company Confidential
Other Comprehensive Income
Ä Purpose of the Implementation GuideÄ Overall changes in the 2015 TaxonomyÄ Select examples
Ä 2015 Workiva Company Confidential
Other Comprehensive Income
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 2015 Workiva Company Confidential
Other Comprehensive Income
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
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeAOCI group relocated under stockholders' equity
2014 Taxonomy
2015 Taxonomy
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeExisting AOCI members modified to parents only
2014 Taxonomy
2015 Taxonomy
Main update:automatic 1-to-1 migration
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeNew equity component members added
2014 Taxonomy
2015 Taxonomy
Manual update required forAOCI roll forward including NCI
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeExisting AOCI members modified to parents only
AOCI[Member]
NCI[Member]
NCI's shareParent's share only
Ä 2015 Workiva Company Confidential
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
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeNew, modified, and reorganized line item concepts
2014 Taxonomy 2015 Taxonomy
New organization betweenparent and including NCI
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeNew, modified, and reorganized line item concepts
2014 Taxonomy 2015 Taxonomy
Roll forward remodeled to be consistentwith equity statements tagging
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeNew, modified, and reorganized line item concepts
2014 Taxonomy 2015 Taxonomy
Existing OCI concepts modifiedto be including NCI portion
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeNew, modified, and reorganized line item concepts
2014 Taxonomy 2015 Taxonomy
New OCI concepts added for parent only
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeNew, modified, and reorganized line item concepts
2015 Taxonomy
New tax elementsadded for
reclassifications
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeUse OCI detail components by before tax, tax, or after tax concepts?
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeUse OCI detail components by before tax, tax, or after tax concepts?
Don't use specific OCI line itemsX
Ä 2015 Workiva Company Confidential
Other Comprehensive IncomeUse OCI detail components by before tax, tax, or after tax concepts?
Use OCI and reclassification concepts (before tax, tax, and net of tax)+ AOCI equity component members
Ä 2015 Workiva Company Confidential
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
Ä 2015 Workiva Company Confidential
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
Ä 2015 Workiva Company Confidential
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
Ä 2015 Workiva Company Confidential
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
Ä 2015 Workiva Company Confidential
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
Ä 2015 Workiva Company Confidential
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)
Ä 2015 Workiva Company Confidential
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