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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#DeloitteESGnow — Sustainability disclosure goes mainstream

September 24, 2019

This issue discusses various developments in the marketplace that have resulted in increased pressure on companies to disclose or improve the transparency of environmental, social, and governance topics and the move by some companies toward disclosing such information in their financial filings. 

Learn about increased pressure on companies to disclose information on environmental, social, and governance topics in their financial filings.

FASB reexposes proposed ASU on simplification of the balance sheet classification of debt

September 19, 2019

This issue discusses the FASB’s recently issued proposed Accounting Standards Update (ASU) on simplifying the classification of debt in a classified balance sheet. The proposal, which is a revised version of the Board’s January 2017 proposed ASU on the same topic, is intended to reduce the cost and complexity of determining whether debt should be classified as current or noncurrent in a classified balance sheet. Comments on the proposed ASU are due by October 28, 2019. 

Learn about the FASB's proposed ASU on simplifying the classification of debt in a classified balance sheet.

Critical audit matters make their debut!

August 30, 2019

This issue discusses the critical audit matters (CAMs) that were communicated in auditors’ reports for all large accelerated filers with fiscal years ending June 30, 2019. The CAMs most often identified were related to goodwill and intangible assets, revenue, and income taxes.

Learn more on critical audit matters (CAMs)

SEC proposes modernizing certain Regulation S-K disclosure requirements

August 20, 2019

This issue discusses an SEC proposed rule that would modernize the disclosure requirements in Regulation S-K, Item 101, “Description of Business”; Item 103, “Legal Proceedings”; and Item 105, “Risk Factors.” Comments on the proposed rule are due 60 days after its publication in the Federal Register

Learn about the SEC proposal to modernize certain Regulation S-K disclosure requirements

FASB proposes simplifications to the issuer’s accounting for convertible instruments and contracts on an entity’s own equity

August 8, 2019

This issue discusses the FASB’s recently issued proposed Accounting Standards Update (ASU) that would simplify the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The proposed ASU is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. 

Learn more on simplifying the accounting for certain financial instruments.
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