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This special edition sets out financial reporting issues that may be relevant for years ending on or after December 31, 2019 as a result of areas of regulatory focus, the current economic environment or changes in accounting standards.
Calendar-year-end public business entities adopted the FASB’s new leasing standard (ASC 842) on January 1, 2019. This Heads Up outlines the ASC 842 disclosure requirements, elaborates on some of those requirements, and provides examples of related SEC comments issued to registrants in 2019.
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.
Does your private company have tax planning shares? If yes, please check out our publication that explains what you need to know about the amendments to Section 3856, Financial Instruments for the accounting for such shares. Our publication walks through the new model for classifying the shares as equity or as a financial liability and provides practical insights, examples, decision trees and a transition checklist to support your understanding of the amendments and things you need to think about when implementing the changes.
This Clearly IFRS addresses the recent amendments to IFRS 9 Financial Instruments, IAS 39 Financial Instruments: Recognition and Measurement and IFRS 7 Financial Instruments: Disclosures that have been published by the International Accounting Standards Board (IASB).
This publication explores some of the key differences between IFRS® Standards and U.S. GAAP that are effective as of January 1, 2020, for public business entities with a calendar-year annual reporting period. Although this Roadmap does not capture all the differences that exist between the two sets of standards, it focuses on differences that are commonly found in practice.
This publication contains extracts of frequently issued SEC staff comments, analysis of those extracts, and links to resources that are relevant to SEC filers. Other features include (1) an update on the SEC’s priorities; (2) a summary of comment letter trends related to the top 10 topics of frequent comment in the 12-month period ended July 31, 2019; and (3) topics of focus related to disclosures associated with financial statement accounting, SEC reporting, initial public offerings, foreign private issuers, and industry-specific matters. Appendix F of the Roadmap summarizes the changes made in the 2019 edition.
This Clearly IFRS addresses the proposed amendments to IAS 1 'Presentation of Financial Statements' and IFRS Practice Statement 2 'Making Materiality Judgements' set out in Exposure Draft ED/2019/6 'Disclosure of Accounting Policies (Proposed amendments to IAS 1 and IFRS Practice Statement 2)' published by the International Accounting Standards Board in August 2019.
This Heads Up discusses the critical audit matters (CAMs) that were communicated in auditors’ reports for all large accelerated filers with fiscal years ending June 30, 2019. The CAMs most often identified were related to goodwill and intangible assets, revenue, and income taxes.
This Clearly IFRS addresses the proposed amendments to IFRS 17 'Insurance Contracts' set out in Exposure Draft ED/2019/4 'Amendments to IFRS 17' (the ‘ED’) that has been published by the International Accounting Standards Board (IASB) in June 2019.
We are pleased to present the second edition of A Roadmap to Initial Public Offerings. This Roadmap addresses financial reporting, accounting, and auditing considerations to help companies navigate challenges related to preparing an IPO registration statement and ultimately going public.
This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update (ASU) that would simplify the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The proposed ASU is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP.
