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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Subscribe to receive Heads Up via e-mail. Archives are available on the US GAAP Plus site.

SEC comments reflect registrants’ efforts to implement ASC 606

September 26, 2018

This Heads Up provides a brief overview of the disclosure requirements for public business entities under the FASB’s new revenue standard, ASC 606, Revenue From Contracts With Customers. The newsletter highlights some key themes regarding the application of ASC 606 (related to accounting and disclosure requirements) that we noted in our review of approximately 100 SEC staff comments issued to date and presents examples of those comments. 

Learn about the disclosure requirements for public business entities under ASC 606.

FASB amends guidance on cloud computing arrangements

September 11, 2018

This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2018-15, "Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." The ASU aligns the accounting for costs incurred to implement a cloud computing arrangement that is a service arrangement with the guidance on capitalizing costs associated with developing or obtaining internal-use software.

Learn about the FASB's amendments on cloud computing arrangements.

FASB issues standard to amend required fair value measurement disclosures

August 31, 2018

This Heads Up discusses the FASB’s newly issued Accounting Standards Update No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, which amends ASC 820 to add, remove, and modify fair value measurement disclosure requirements. 

 

Learn about FASB standard which amends required fair value measurement disclosures.

FASB amends guidance on disclosures related to defined benefit plans

August 29, 2018

This Heads Up discusses the FASB’s newly issued Accounting Standards Update (ASU) No. 2018-14, Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans, which amends ASC 715 to add, remove, and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The ASU is part of the FASB’s disclosure framework project, which the Board launched in 2014 to improve the effectiveness of disclosures in notes to financial statements.  

Learn about the FASB amendments to guidance on disclosures related to defined benefit plans

SEC issues final rule that updates and simplifies its disclosure requirements

August 28, 2018

This Heads Up discusses SEC Final Rule Release No. 33-10532, Disclosure Update and Simplification, which amends various SEC disclosure requirements that the Commission has determined to be redundant, duplicative, overlapping, outdated, or superseded. Issued as part of the SEC’s ongoing disclosure effectiveness initiative, the final rule is effective 30 days after its publication in the Federal Register.

Learn about the SEC's final rule that updates and simplifies its disclosure requirements

Recent newsletters

Past issues of the Heads Up newsletters are available on the US GAAP Plus site.

 
 
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