Perspectives

Heads Up

Latest accounting and regulatory developments

Periodic newsletters that analyze important accounting developments, such as new FASB and IASB pronouncements or exposure drafts. Concise examples and answers to frequently asked questions assist readers in understanding and implementing the critical guidance.

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FASB amends guidance on presentation of net periodic benefit cost related to defined benefit plans

March 14, 2017

This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The ASU amends the requirements in U.S. GAAP related to the income statement presentation of the components of net periodic benefit cost for an entity’s sponsored defined benefit pension and other postretirement plans.

Learn about the FASB's ASU which amends the requirements in U.S. GAAP related to the income statement presentation of the components of net periodic benefit cost for an entity’s sponsored defined benefit pension and other postretirement plans.

FASB Proposes Improvements to the Accounting for Share-Based Payment Arrangements With Nonemployees

March 10, 2017

This Heads Up discusses the FASB’s proposed Accounting Standards Update Improvements to Nonemployee Share-Based Payment Accounting, which would simplify the accounting for share-based payments granted to nonemployees for goods and services. Under the proposal, most of the guidance on such payments to nonemployees would be aligned with the requirements for share-based payments granted to employees.

Learn about the FASB's proposed ASU which would simplify the accounting for share-based payments granted to nonemployees for goods and services.

FASB Amends Guidance on Derecognition and Partial Sales of Nonfinancial Assets

February 28, 2017

This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2017-05, Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets, which clarifies the scope of the Board’s recently established guidance on nonfinancial asset derecognition (ASC 610-20) as well as the accounting for partial sales of nonfinancial assets. The ASU conforms the derecognition guidance on nonfinancial assets with the model for transactions in the new revenue standard (ASC 606, as amended). 

Learn about the FASB's ASU which which clarifies guidance on nonfinancial asset derecognition as well as the accounting for partial sales of nonfinancial assets.

Forecasting revenue disclosures — Storm brewing?

February 22, 2017

This Heads Up discusses certain of the disclosure requirements in the FASB’s new revenue standard that may be particularly challenging for entities to implement.

 

Learn about disclosure requirements in the FASB’s new revenue standard.

FASB eliminates step 2 from the goodwill impairment test

February 1, 2017

This Heads Up discusses FASB Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment, which eliminates step 2 from the goodwill impairment test. Instead, if “the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit.”

Learn about FASB's ASU on the goodwill impairment test.
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