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  • FASB meeting Image
  • Highlights of the FASB’s July 17 meeting

    Jul 19, 2019

    At its July 17, 2019, meeting, the FASB discussed (1) reference rate reform; (2) effective date considerations for private companies, not-for-profit organizations, and small public companies; (3) the lessor’s accounting for operating lease receivables under ASC 842, “Leases”; and (4) implementation of the contract combination guidance in ASC 606, “Revenue From Contracts With Customers,” by colleges and universities.

  • IASB document Image
  • IASB publishes proposed amendments to IAS 12

    Jul 17, 2019

    The IASB has published an exposure draft (ED), “Deferred Tax Related to Assets and Liabilities Arising From a Single Transaction — proposed amendments to IAS 12.”

  • SEC (US Securities and Exchange Commission) Image
  • SEC issues statement on LIBOR transition

    Jul 12, 2019

    The SEC has issued a statement regarding the expected discontinuation of LIBOR after 2021 and how market participants can manage their transition from LIBOR by evaluating existing contracts, new contracts, and other business risks.

  • AICPA document Image
  • AICPA issues SAS 136 and SAS 137

    Jul 10, 2019

    The AICPA’s Auditing Standards Board has published two Statements on Auditing Standards (SASs): No. 136, “Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA,” and No. 137, “The Auditor’s Responsibilities Relating to Other Information Included in Annual Reports.”

  • SEC document Image
  • SEC and other organizations issue guidance to exclude community banks from the scope of the Volcker Rule

    Jul 10, 2019

    The SEC and several other government agencies — including the Federal Reserve Board, CFTC, FDIC, and OCC — have jointly issued a final rule, “Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds,” in response to amendments made by the Economic Growth, Regulatory Relief, and Consumer Protection Act.

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  • IFRS in Focus — IASB proposes amendments to IAS 12,
  • IFRS in Focus — IASB proposes amendments to IAS 12, "Income Taxes"

    published Jul 19, 2019

    This IFRS in Focus addresses the proposed amendments to IAS 12, "Income Taxes," set out in Exposure Draft ED/2019/5, "Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Proposed amendments to IAS 12)," that has been published by the International Accounting Standards Board (IASB) in July 2019.

  • Audit Committee Brief — July 2019 Image
  • Audit Committee Brief — July 2019

    published Jul 17, 2019

    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 — June 2019  Image
  • IFRS on Point — June 2019

    published Jul 11, 2019

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

  • A Roadmap to Foreign Currency Transactions and Translations (2019) Image
  • A Roadmap to Foreign Currency Transactions and Translations (2019)

    published Jul 08, 2019

    This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance under ASC 830 and IFRS® Standards (in Chapter 10). This update reflects guidance that is effective for annual reporting periods beginning on or after January 1, 2019.

  • A Roadmap to Distinguishing Liabilities From Equity (2019) Image
  • A Roadmap to Distinguishing Liabilities From Equity (2019)

    published Jul 02, 2019

    This Roadmap provides an overview of the guidance in ASC 480-10 as well as insights into and interpretations of how to apply it in practice. ASC 480-10 requires (1) issuers to classify certain types of shares of stock and certain share-settled contracts as liabilities or, in some circumstances, as assets and (2) SEC registrants to classify certain types of redeemable equity instruments as temporary equity. Appendix G of the Roadmap highlights new content in the 2019 edition as well as substantive revisions to previous text.

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