Perspectives

Industry Spotlight Series

Access industry perspectives on accounting and financial reporting developments.

Archives

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Power & Utilities Spotlight — Effects of the new revenue standard: Observations from a review of first-quarter 2018 public filings by power and utilities companies

July 2018

This Power & Utilities Spotlight discusses our review of the disclosures in the public filings of a group of companies that adopted the FASB’s new revenue standard (ASC 606) in the first quarter of 2018. While we observed diversity in practice, it’s clear that the standard’s new and modified disclosure guidance has significantly increased the amount and type of information disclosed about revenue activities and related transactions.

Power & Utilities Spotlight — “Failed sales” of nonfinancial assets require reassessment upon adoption of ASC 606 and ASC 610-20

April 2018

This Power & Utilities Spotlight discusses an entity's requirements upon adopting ASC 610-20, which provides guidance on the recognition and measurement of transfers of nonfinancial assets. As a result of the new guidance, an entity may need to reverse its accounting for previous transactions and adjust beginning retained earnings.

Real Estate Spotlight — “Failed sales” of nonfinancial assets require reassessment upon adoption of ASC 606 and ASC 610-20

April 2018

This Real Estate Spotlight discusses an entity’s requirements upon adopting ASC 610-20, which provides guidance on the recognition and measurement of transfers of nonfinancial assets. As a result of the new guidance, an entity may need to reverse its accounting for previous transactions and adjust beginning retained earnings.

Shipping Spotlight — Navigating a vessel through the new revenue and leases standards

February 2018

This Shipping Spotlight discusses the new revenue and leases standards with a focus on implementation considerations for the shipping industry.

Automotive Spotlight — SEC gives automotive suppliers driving directions to account for preproduction activities under the new revenue standard

November 2017

This Automotive Spotlight, originally issued in September 2017, has been updated to reflect the SEC staff’s views on an entity’s transition from a revenue model to a cost reimbursement model for reimbursements received for preproduction activities.

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