Authority and currency
About this authority
- Publisher
- Financial Accounting Foundation
- Standing
- Primary authority
- Version
- Topic 505 as accessed 2026-08-08
- Relevant parts
- Topic 505; linked Topics 480 and 815 control instrument-classification questions
- Currency
- current · checked Aug 8, 2026
Topic 505 anchors the equity ledger, but the ledger opens only after legal and contractual evidence establishes the instrument, class, shares, owner action, and applicable classification route. Issued, treasury, and outstanding shares must reconcile separately from contributed-capital and retained-earnings amounts.