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  • FASB meeting Image
  • Highlights of the FASB’s February 13 meeting

    Feb 14, 2019

    At its February 13, 2019, meeting, the FASB discussed its projects on (1) distinguishing liabilities from equity, (2) segment reporting, and (3) codification improvements related to leases.

  • FASB (US Financial Accounting Standards Board) Image
  • FASB and ASBJ hold biannual meeting

    Feb 13, 2019

    On February 7–8, 2019, the FASB met with the Accounting Standards Board of Japan (ASBJ) in Tokyo, Japan. The meeting is the 25th in a series of biannual meetings the two standard setters hold to further their “cooperative efforts to develop high-quality global accounting standards.”

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  • Highlights of the FASB’s January 30 meeting

    Jan 31, 2019

    At its January 30, 2019, meeting, the FASB (1) ratified an EITF consensus and (2) held an educational session on distinguishing liabilities from equity (including convertible debt).

  • SEC (US Securities and Exchange Commission) Image
  • SEC announces recommencement of normal operations

    Jan 28, 2019

    In a recent statement, SEC Chairman Jay Clayton announced that the Commission “has resumed normal staffing levels and is returning to normal operations” following the end of the partial shutdown of the U.S. government.

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  • Highlights of the FASB’s January 23 meeting

    Jan 24, 2019

    At its January 23, 2019, meeting, the FASB discussed its projects on (1) credit losses — targeted transition relief, (2) disclosure review — income taxes, and (3) simplifying the balance sheet classification of debt.

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  • Deloitte comments on GASB Preliminary Views documents Image
  • Deloitte comments on GASB Preliminary Views documents

    published Feb 15, 2019

    Deloitte & Touche LLP comments on the GASB's two preliminary views documents (PVs), Financial Reporting Model Improvements (PV 3-25) and Recognition of Elements of Financial Statements (PV 3-20).

  • A Roadmap to Applying the New Leasing Standard (2019) Image
  • A Roadmap to Applying the New Leasing Standard (2019)

    published Feb 14, 2019

    This Roadmap combines the requirements in ASC 842 with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. In addition, the Roadmap highlights (1) the requirements of ASC 842 that significantly differ from those in ASC 840 and IFRS 16 and (2) recent standard-setting developments (through the February 13, 2019, FASB meeting). We hope that this publication will enable entities to deal with some of the more challenging aspects of ASC 842.

  • Heads Up — FASB proposes to ease transition to the credit losses standard Image
  • Heads Up — FASB proposes to ease transition to the credit losses standard

    published Feb 11, 2019

    This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update (ASU), "Targeted Transition Relief for Topic 326, Financial Instruments — Credit Losses." The proposed ASU would allow entities to irrevocably elect, upon adoption of ASU 2016-13, Measurement of Credit Losses on Financial Instruments, the fair value option for financial instruments that were previously recorded at amortized cost (except for held-to-maturity debt securities) and that are within the scope of FASB Accounting Standards Codification (ASC) Subtopic 326-20, "Financial Instruments — Credit Losses: Measured at Amortized Cost," provided that the instruments are eligible for the fair value option under ASC 825-10, "Financial Instruments: Overall."

  • IFRS on Point — January 2019 Image
  • IFRS on Point — January 2019

    published Feb 11, 2019

    'IFRS on Point', published at the beginning of each month, highlights critical IFRS-related financial reporting developments.

  • A Comparison of IFRS Standards and U.S. GAAP: Bridging the Differences Image
  • A Comparison of IFRS Standards and U.S. GAAP: Bridging the Differences

    published Feb 04, 2019

    This publication discusses differences that are commonly found in practice between the International Accounting Standards Board’s IFRS® Standards and the FASB’s U.S. GAAP. The significance of these differences to a given entity will vary depending on such factors as the nature of its operations, the industry in which it operates, and the accounting policy choices it has made.

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