PSB » Topics » Accounting for preferred equity issuance costs

These excerpts taken from the PSB 10-K filed Feb 26, 2009.
Accounting for preferred equity issuance costs
 
In accordance with EITF Topic D-42, the Company records its issuance costs as a reduction to paid-in capital on its balance sheet at the time the preferred securities are issued and reflects the carrying value of the preferred stock at the stated value. The Company records issuance costs as non-cash preferred equity distributions at the time it notifies the holders of preferred stock or units of its intent to redeem such shares or units.
 
Accounting
for preferred equity issuance costs



 



In accordance with EITF Topic D-42, the Company records its
issuance costs as a reduction to paid-in capital on its balance
sheet at the time the preferred securities are issued and
reflects the carrying value of the preferred stock at the stated
value. The Company records issuance costs as non-cash preferred
equity distributions at the time it notifies the holders of
preferred stock or units of its intent to redeem such shares or
units.


 




EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 26, 2009
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