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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SEC seeks input on quarterly reports and earnings releases

December 21, 2018

This Heads Up discusses SEC Release No. 33-10588, Request for Comment on Earnings Releases and Quarterly Reports, which seeks feedback on the nature and content of quarterly reports and earnings releases issued by reporting companies. Solicited feedback includes stakeholders’ views on (1) the frequency of periodic reporting, (2) the extent of quarterly disclosures, (3) the relationship between required Forms 10-Q and voluntary earnings releases, and (4) the relationship between quarterly reporting and a focus on short-term results. Responses to the request for comment are due 90 days after its publication in the Federal Register.

 

Learn about the SEC's feedback request for quarterly reports and earnings releases

Highlights of the 2018 AICPA conference on current SEC and PCAOB developments

December 16, 2018

This Heads Up extracts key insights from this year’s three-day AICPA Conference on Current SEC and PCAOB Developments. The conference featured speeches and panel discussions by members of the SEC, PCAOB, FASB, and other professional groups on current accounting, reporting, and auditing practice issues.

 

Learn about the AICPA Conference on Current SEC and PCAOB Developments

FASB decks lessors’ halls with “lesser” requirements

December 14, 2018

This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2018-20, Narrow-Scope Improvements for Lessors, which is being released in response to certain concerns lessors have raised regarding the implementation of the Board’s new leasing standard, ASU 2016-02. Specific aspects of the lessor guidance in ASU 2016-02 that are being amended by ASU 2018-20 include (1) sales taxes and other similar guidance collected from lessees, (2) lessor costs paid directly by a lessee, and (3) recognition of variable payments for contracts with lease and nonlease components.

Learn about the narrow-scope amendments to the new leasing standard

FASB finalizes targeted amendments to the related-party guidance for variable interest entities

November 19, 2018

This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2018-17, Targeted Improvements to Related Party Guidance for Variable Interest Entities, which amends two aspects of the related-party guidance in ASC 810. Specifically, the ASU (1) adds an elective private-company scope exception to the variable interest entity guidance for entities under common control and (2) removes 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, Interests Held Through Related Parties That Are Under Common Control.

Learn about FASB's guidance in ASU 2018-17 and related-party guidance in ASC 810.

FASB amends guidance on collaborative arrangements

November 13, 2018

This Heads Up discusses the FASB’s recently issued Accounting Standards Update No. 2018-18, Clarifying the Interaction Between Topic 808 and Topic 606, which amends ASC 808 to clarify when transactions between participants in a collaborative arrangement under ASC 808 are within the scope of the FASB’s new revenue standard.

Learn about FASB's guidance in ASU 2018-18 on collaborative arrangement.
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