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 proposes guidance on collaborative arrangements

April 30, 2018

This issue discusses the FASB’s proposed Accounting Standards Update Collaborative Arrangements (Topic 808): Targeted Improvements, which would amend ASC 808 to address uncertainties related to the interaction of that guidance with the FASB’s new revenue standard (ASC 606).

Learn about targeted improvements to collaborative arrangements.

What private companies should know about the new revenue recognition standard

April 11, 2018

This Heads Up provides a high-level overview of the new five-step model for recognizing revenue under ASC 606 and discusses the standard’s mandatory effective date for private companies. It also outlines the practical expedients available to private companies with respect to certain of the new standard’s disclosure requirements and addresses internal control considerations. In addition, the Heads Up provides some observations and lessons learned from the implementation of ASC 606 by public companies.


Learn about the high-level overview of the new five-step model for recognizing revenue under ASC 606.

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. 

Learn about Deloitte’s discussion of the FASB's proposed ASU on cloud computing arrangements.

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.

Learn about the SEC's recent refreshment of existing SEC staff guidance related to cybersecurity.

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.

 

Learn about the Deloitte’s review of the disclosures in the public filings of a group of companies that early adopted the FASB’s new revenue standard.
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