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  • IASB document Image
  • IASB proposes minor amendments to IFRS 9

    Apr 21, 2017

    The IASB has published an exposure draft (ED), “Prepayment Features With Negative Compensation — proposed amendments to IFRS 9,” which addresses concerns about how certain prepayable financial assets are classified under IFRS 9, “Financial Instruments.”

  • FASB meeting Image
  • Highlights from the FASB’s April 19 meeting

    Apr 21, 2017

    At its April 19, 2017, meeting, the FASB discussed its projects on (1) liabilities and equity and (2) revenue recognition of grants and contracts by not-for-profit entities.

  • AICPA document Image
  • AICPA issues proposed SAS on employee benefit plans

    Apr 21, 2017

    The AICPA’s Auditing Standards Board has issued a proposed Statement on Auditing Standards (SAS) that addresses audits of financial statements of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA).

  • SEC (US Securities and Exchange Commission) Image
  • Federal court remands conflict minerals case to SEC

    Apr 11, 2017

    The U.S. District Court for the District of Columbia has issued a final judgment in the litigation related to the SEC’s conflict minerals rule and has remanded the case to the Commission.

  • AICPA document Image
  • AICPA issues eleven revenue working drafts

    Apr 05, 2017

    The AICPA’s revenue recognition task forces have released for public comment eleven working drafts on accounting issues associated with the implementation of the new revenue standard for airlines, gaming, hospitality, and time-share entities.

  • PCC meeting Image
  • PCC holds April 2017 meeting

    Apr 05, 2017

    At yesterday’s meeting, the Private Company Council (PCC) addressed the FASB’s projects on (1) the disclosure framework, (2) financial instruments — hedge accounting, (3) targeted improvements to the guidance on financial instruments with characteristics of liabilities and equity, and (4) targeted improvements to the related-party guidance for variable interest entities. In addition, the PCC discussed examples and situations related to cloud computing for private companies.

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  • Audit Committee Brief — April 2017 Image
  • Audit Committee Brief — April 2017

    published Apr 19, 2017

    This edition highlights recent news items, publications, articles, and other topics of interest to audit committee members, with links for further information.

  • IFRS on Point — March 2017 Image
  • IFRS on Point — March 2017

    published Apr 10, 2017

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

  • Heads Up — Adopting the new revenue standard — Where do companies stand? Image
  • Heads Up — Adopting the new revenue standard — Where do companies stand?

    published Apr 04, 2017

    This Heads Up discusses certain considerations related to implementing the FASB’s new revenue standard, "Revenue From Contracts With Customers." The discussion compares the results of a 2016 Deloitte-sponsored survey to previously reported results from Deloitte’s 2015 survey, in which respondents were asked various questions pertaining to their readiness to adopt the standard’s provisions.

  • Financial Reporting Alert 17-5 — SEC reemphasizes its continued focus on the new revenue standard, including advancing ICFR Image
  • Financial Reporting Alert 17-5 — SEC reemphasizes its continued focus on the new revenue standard, including advancing ICFR

    published Apr 04, 2017

    In a speech at the 13th Annual Life Sciences Accounting & Reporting Congress on March 21, 2017, SEC Chief Accountant Wesley Bricker reminded registrants of the importance of implementing the FASB’s new revenue standard in a timely manner and of providing the transition disclosures required by SEC Staff Accounting Bulletin (SAB) Topic 11.M (SAB 74) before adoption. Mr. Bricker also stressed the key role of internal control over financial reporting (ICFR) in the standard’s successful implementation.

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