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 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.

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).

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

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.

Learn about the 2016 AICPA Conference on Current SEC and PCAOB Developments.

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.

Learn about the FASB's proposed ASU that would make limited changes to its guidance on classifying certain financial instruments as either liabilities or equity.

Recent newsletters

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

 
 
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