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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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.

FASB amends the consolidation guidance for not-for-profit entities

January 30, 2017

This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2017-02, Clarifying When a Not-for-Profit Entity That Is a General Partner or a Limited Partner Should Consolidate a For-Profit Limited Partnership or Similar Entity. The ASU amends the consolidation guidance for not-for-profit entities (NFPs) in ASC 958-810 and clarifies when an NFP that is a general partner or a limited partner should consolidate a for-profit limited partnership or similar legal entity once the amendments in ASU 2015-02 become effective.

Learn about the FASB's ASU which changes the consolidation guidance for NFPs.

FASB Clarifies the Definition of a Business

January 13, 2017

This Heads Up discusses the FASB’s recently issued ASU 2017-01, Clarifying the Definition of a Business, which introduces amendments that are intended to make the guidance in ASC 805 on the definition of a business more consistent and cost-efficient.

Learn about the FASB's ASU which introduces amendments to make the guidance on the definition of a business more consistent and cost-efficient.

FASB Proposes Updates to Inventory Disclosures

January 12, 2017

This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update (ASU) Disclosure Framework — Changes to the Disclosure Requirements for Inventory, which would modify or eliminate certain disclosure requirements related to inventory as well as establish new requirements.  

Learn about the FASB's ASU which would modify or eliminate certain disclosure requirements related to inventory as well as establish new requirements.
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