Perspectives

Accounting Roundup

Quarterly newsletter that briefly describes key regulatory and professional developments that occurred in the field of accounting.

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Third Quarter in Review — 2017

Highlights of the third quarter of 2017 include the following:

  • The FASB’s issuance of (1) ASUs that make targeted improvements to its guidance on accounting for certain financial instruments with down-round features and amend the hedge accounting recognition and presentation requirements in ASC 815 and (2) proposed ASUs that would reorganize the Board’s consolidation guidance and clarify its guidance on contributions received and contributions made.
  • The SEC’s announcement that it would not object to elections by certain public business entities to use the non-PBE effective dates for the sole purpose of adopting the FASB’s new standards on revenue and leases. 
Quarterly Accounting Roundup newsletter

Second Quarter in Review — 2017

Highlights of the second quarter of 2017 include the following:

  • The FASB’s issuance of ASUs that (1) address diversity in practice related to service concession arrangements and (2) amend the scope of modification accounting for share-based payment arrangements.
  • The Board also released proposed ASUs that would (1) make targeted improvements to its consolidation guidance for VIEs and (2) eliminate certain outdated guidance as part of its ongoing technical corrections project.
Accounting Roundup newsletter

May 2017

Highlights of this issue include the following: 

  • The FASB’s issuance of ASUs on (1) service concession arrangements and (2) the scope of modification accounting for share-based payment arrangements.
  • The IASB’s release of its new insurance contracts standard, IFRS 17. 
  • The PCAOB’s issuance of a new standard on the auditor’s reporting model.
Accounting Roundup newsletter

April 2017

Highlights of this issue include the following:

  • The AICPA’s release of a framework on cybersecurity risk management.
  • The final judgment by the U.S. District Court for the District of Columbia in the litigation related to the SEC’s conflict minerals rule and the court’s remanding of the case to the Commission. 
Accounting Roundup newsletter

First Quarter in Review — 2017

In the first quarter of 2017, the FASB issued a number of new standards and proposals, including the following:

  • ASUs on recognizing interest on callable debt securities, clarifying the definition of a business, amending the consolidation guidance for not-for-profit entities, presenting net periodic benefit cost, employee benefit plan master trust reporting, simplifying the goodwill impairment test, and amending the guidance on derecognition and partial sales of nonfinancial assets.
  • Proposed ASUs on simplifying the balance sheet classification of debt, amending the inventory disclosure requirements, and improving the accounting for share-based payment arrangements with nonemployees.
Accounting Roundup Newsletter

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A full archive of Accounting Roundup newsletters is available on the US GAAP Plus site.

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