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 issues proposed ASU on cloud computing arrangements
March 2, 2018
This Heads Up discusses the FASB’s proposed ASU Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract — Disclosures for Implementation Costs Incurred for Internal-Use Software and Cloud Computing Arrangements, which was issued in response to the consensus-for-exposure reached by the FASB’s Emerging Issues Task Force on Issue 17-A. The proposed ASU would amend ASC 350-40 to address a customer’s accounting for implementation costs incurred in a cloud computing arrangement (CCA) that is a service contract. It would also add certain disclosure requirements related to implementation costs incurred for internal-use software and CCAs. Comments on the proposed ASU are due by April 30, 2018.
In the spirit of full cybersecurity disclosure
February 23, 2018
This Heads Up discusses the SEC’s recently issued interpretation, Commission Statement and Guidance on Public Company Cybersecurity Disclosures. The interpretation largely refreshes existing SEC staff guidance related to cybersecurity and does not establish any new disclosure obligations.
Observations from a review of public filings by early adopters of the new revenue standard
January 22, 2018
This issue provides insight into Deloitte’s review of the disclosures in the public filings of a group of companies that early adopted the FASB’s new revenue standard (ASC 606) in 2017. Entities adopting the standard beginning in 2018 may benefit from evaluating the disclosure trends we have observed as a result of this review.
Highlights of the 2017 AICPA Conference on Current SEC and PCAOB Developments
December 10, 2017
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 tentatively decides to relieve entities from implementing certain aspects of the new leasing standard
December 5, 2017
This Heads Up discusses the tentative decisions the FASB made at its November 29, 2017, meeting to amend certain aspects of its new leasing standard, ASU 2016-02. Specifically, the Board tentatively decided that (1) entities may elect not to restate their comparative periods in the period of adoption when transitioning to the new standard and (2) lessors may elect not to separate lease and nonlease components when certain conditions are met. In addition, the Board discussed stakeholder feedback on its proposed ASU related to the land easement practical expedient associated with transition to ASC 842 and voted to move forward with drafting a final ASU.