Financial Reporting Alerts

Issued as needed to highlight up-to-the-minute accounting, regulatory, or other developments that may require immediate action or that may affect financial reporting and disclosure.

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Financial reporting implications of disasters

Financial Reporting Alert 17-6 

This Financial Reporting Alert highlights some of the financial reporting implications of disasters for entities reporting under U.S. GAAP. Those implications can include the accounting for asset impairments, the income statement classification of losses, insurance recoveries, and additional exposure to environmental remediation liabilities. The newsletter also provides information on how entities affected by recent storms may be able to apply for relief from SEC filing requirements.


FRA 17-6, Financial Reporting Implications of Disasters (Updated October 17, 2018)
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