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Accounting changes and new accounting guidance







Accounting changes and new accounting guidance



Accounting changes and new accounting guidance









X

- Definition







This item represents the disclosure necessary for reporting accounting changes and error corrections. It includes the conveyance of information necessary fo

understand all aspects and required disclosure information concerning all changes and error corrections that may be reported in the Company's financial stat





+ References





Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 154

-Paragraph 17, 22, 25, 26





Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 1

-Section N





+ Details

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BNY Mellon XBRL • XBRL Rendering • Last update 5.9.2011

see corresponding XBRL tags and definitions*







3 Months Ended

Mar. 31, 2011

Note 2 – Accounting changes and new accounting guidance

ASU 2010-6 – Improving Disclosures About Fair Value Measurements





In January 2010, the FASB issued ASU 2010-6, “Improving Disclosures about Fair Value Measurements.” This amended

ASC 820 to clarify existing requirements regarding disclosures of inputs and valuation techniques and levels of

disaggregation. Effective March 31, 2011, this ASU required new disclosures about Level 3 purchases, sales, issuances and

settlements in the roll-forward activity for fair value measurements. This ASU is required in interim and annual financial

statements. See Note 15 of the Notes to Consolidated Financial Statements for these disclosures.

ASU 2010-29 – Disclosure of Supplementary Pro Forma Information for Business Combinations





In December 2010, the FASB issued ASU 2010-29, “Disclosure of Supplementary Pro Forma Information for Business

Combinations.” This ASU specified that if a public entity presents comparative financial statements, the entity would disclose

revenue and earnings of the combined entity as though the business combination(s) that occurred during the current year

had occurred as of the beginning of the comparable prior annual reporting period only. This ASU also expanded the

supplemental pro forma disclosures under Topic 805 to include a description of the nature and amount of material,

nonrecurring pro forma adjustments directly attributable to the business combination. The ASU was effective prospectively

for business combinations consummated on or after Jan. 1, 2011.

ASU 2010-28 – When to Perform Step 2 of the Goodwill Impairment Test for Reporting Units with Zero or Negative Carrying

Amounts





In December 2010, the FASB issued ASU 2010-28, “When to Perform Step 2 of the Goodwill Impairment Test for Reporting

Units with Zero or Negative Carrying Amounts.” This ASU requires an entity with reporting units that have carrying amounts

that are zero or negative to assess whether it is more likely than not that the reporting units’ goodwill is impaired. If the entity

determines that it is more likely than not that the goodwill of one or more of its reporting units is impaired, the entity should

perform Step 2 of the goodwill impairment test for those reporting unit(s). Any resulting goodwill impairment should be

recorded as a cumulative effect adjustment to beginning retained earnings in the period of adoption. Any goodwill

impairments occurring after the initial adoption should be included in earnings as required by Section 350. The ASU was

effective for interim and annual periods beginning after Dec. 15, 2010.









ting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to

ning all changes and error corrections that may be reported in the Company's financial statements for the period.

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