Status of Statement No. 5

Accounting for Contingencies

Status

Issued: March 1975

Effective Date:
For fiscal years beginning on or after July 1, 1975

Affects:
Deletes ARB 43, Chapter 6
Supersedes ARB 50

Affected by:
Paragraph 2 amended by FIN 48, paragraph C2(a)
Paragraph 7 amended by FAS 87, paragraph 70; FAS 112, paragraph 10; FAS 123 paragraph 385; and FAS 123(R), paragraph D2
Paragraph 7A added by FAS 141(R), paragraph E12
Paragraph 7A amended by FSP FAS 141(R)-1, paragraph A2
Paragraph 7B added by FAS 164, paragraph E5
Paragraphs 8(a), 11, and 34 through 36 amended by FAS 165 paragraphs B3(a) through B3(e), respectively
Paragraph 13 deleted by FAS 71, paragraph 26(o)
Paragraph 15 amended by 2/25/09 FASB Board meeting
Paragraph 18 amended by FAS 111, paragraph 8(s)
Paragraph 20 replaced by FAS 11, paragraph 10
Paragraph 23 amended by FAS 114, paragraph 21
Paragraph 39 amended by FIN 48, paragraph C2(b)
Paragraphs 41 and 102 amended by FAS 60, paragraph 63
Paragraph 44 amended by FAS 113, paragraph 30
Footnote 3 deleted by FAS 16, paragraph 16(d)

Other Interpretive Pronouncements:
FIN 14
FIN 34 (Superseded by FIN 45)
FIN 45

Other Interpretive Release:
FASB Viewpoints, “Application of FASB Statements 5 and 114 to a Loan Portfolio,” April 12, 1999 (in Current Text Section I08)

AICPA Accounting Standards Executive Committee (AcSEC)
Related Pronouncements:SOP 90-7
SOP 93-1
SOP 94-6
SOP 96-1
SOP 97-3
SOP 98-7

Issues Discussed by FASB Emerging Issues Task Force (EITF)
Affects:
No EITF Issues

Interpreted by:
Paragraph 8 interpreted by EITF Issues No. 87-22 and 92-13 and Topics No. D-47 and D-57
Paragraph 9 interpreted by EITF Issue No. 92-13
Paragraph 45 interpreted by EITF Issue No. 93-14

Related Issues
EITF Issues No. 91-10, 93-6, 97-1, 98-9, 99-14, 99-20, 00-22, 00-26, 01-9, 01-10, 02-16, 03-8, 03-17, and 09-4 and Topics No. D-35, D-77, D-80, and D-89

_______________________
*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.

 


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