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.
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.
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.
FASB Proposes Changes to Simplify the Balance Sheet Classification of Debt
January 12, 2017
This Heads Up provides an overview of FASB proposed ASU, Simplifying the Classification of Debt in a Classified Balance Sheet (Current Versus Noncurrent).
Highlights of the 2016 AICPA Conference on Current SEC and PCAOB Developments
December 12, 2016
This issue extracts key insights from this year’s three-day AICPA Conference on Current SEC and PCAOB Developments. The conference features speeches by, and question-and-answer sessions with, members of the SEC, PCAOB, FASB, IASB, and other professional groups on current accounting, reporting, and auditing practice issues.
FASB Proposes Targeted Changes to Guidance on Liabilities and Equity
December 8, 2016
On December 7, 2016, the FASB issued a proposed ASU that would make limited changes to its guidance on classifying certain financial instruments as either liabilities or equity. The FASB’s objective is to improve (1) the accounting for instruments with “down-round” provisions and (2) the readability of ASC 480-10 by replacing the indefinite deferral of certain pending content with scope exceptions. Comments are due by February 6, 2017.