Industry Spotlight Series
Access industry perspectives on accounting and financial reporting developments.
Power & Utilities Spotlight — “Failed sales” of nonfinancial assets require reassessment upon adoption of ASC 606 and ASC 610-20
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
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.
Automotive Spotlight — SEC gives automotive suppliers driving directions to account for preproduction activities under the new revenue standard
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.
Power & Utilities Spotlight — Addressing a Board’s Changing Expectations for Managing Risk
This Power & Utilities Spotlight discusses the risk management roundtable held in April 2017 at the Deloitte office in New York. Deloitte and more than 30 risk professionals representing more than 20 companies discussed (1) the changing nature of the industry, (2) the updated COSO ERM framework, (3) how boards should respond to change, (4) how to enable a more advanced ERM program, and (5) key ERM tools and techniques.
Power & Utilites Spotlight — Making Power and Utilities Companies Resilient in a Changing Risk Landscape
This Power & Utilities Spotlight summarizes the November 2016 risk management roundtable for the power and utilities sector at which Deloitte and over 40 risk professionals representing about 30 companies discussed (1) the alignment of enterprise risk management with crisis management, (2) cyber risk framing, (3) the importance of reputation resilience, (4) executive and board reporting, (5) the quantification of strategic risk, and (6) the results of a poll of roundtable participants that identified their top risks.
Financial Services Spotlight — SEC Seeks Feedback on Possible Changes to Disclosure Requirements for Registrants in the Financial Services Industry
This Financial Services Spotlight provides an overview of the SEC's March 1, 2017, request for comment on potential changes to Industry Guide 3, Statistical Disclosure by Bank Holding Companies. The request for comment contains numerous questions for constituents, the majority of which are intended to solicit feedback about (1) the current disclosure requirements in Industry Guide 3, (2) the need for new disclosures, and (3) the applicability of the disclosures to registrants other than bank holding companies.