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 makes targeted changes to guidance on accounting for certain financial instruments with down-round features
July 21, 2017
This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2017-11, which makes limited changes to the Board’s guidance on classifying certain financial instruments as either liabilities or equity. The ASU is intended to improve (1) the accounting for instruments with “down-round” provisions and (2) the readability of the guidance in ASC 480 on distinguishing liabilities from equity by replacing the indefinite deferral of certain pending content with scope exceptions.
July 20, 2017
This Heads Up discusses the SEC staff’s announcement at today’s meeting of the Emerging Issues Task Force that the staff would not object to elections by certain public business entities (PBEs) to use the non-PBE effective dates for the sole purpose of adopting the FASB’s new standards on revenue and leases.
FASB proposes targeted amendments to the related-party guidance for variable interest entities
July 14, 2017
This Heads Up discusses the FASB’s proposed Accounting Standards Update (ASU), Targeted Improvements to Related Party Guidance for Variable Interest Entities. The proposed ASU’s three main objectives are (1) to add an elective private-company scope exception to the variable interest entity (VIE) guidance for entities under common control, (2) to remove a sentence in ASC 810-10-55-37D regarding the evaluation of fees paid to decision makers to conform with the amendments in ASU 2016-17 (issued in October 2016), and (3) to make additional changes to the related-party guidance in the VIE primary-beneficiary assessment, including amending the guidance in ASC 810-10-25-44 (frequently referred to as the related-party tiebreaker test).
XBRL requirements for companies reporting under IFRSs
July 12, 2017
This Heads Up discusses requirements related to the use of XBRL — eXtensible Business Reporting Language — by foreign private issuers in their financial data submitted to the SEC.
SEC makes nonpublic review process for draft IPOs and initial registration statements available to all companies
July 11, 2017
This Heads Up discusses the announcement of the SEC’s Division of Corporation Finance that the SEC is extending to all companies benefits similar to those related to the confidential review of draft registration statements that are provided to emerging growth companies under the Jumpstart Our Business Startups Act.