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  • Highlights of the March 2018 Not-for-Profit Advisory Committee meeting

    Mar 23, 2018

    At its March 12–13, 2018, meeting, the FASB’s Not-for-Profit Advisory Committee (NAC) discussed (1) revenue recognition of grants and contracts by not-for-profits (NFPs), (2) the Tax Cuts and Jobs Act, and (3) implementation issues related to certain FASB ASUs.

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  • SEC accepts the 2018 U.S. GAAP Financial Reporting Taxonomy

    Mar 19, 2018

    The FASB has announced that the SEC has accepted the 2018 U.S. GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy. The 2018 taxonomy reflects accounting standards issued during the past year as well as other corrections and improvements to the 2017 taxonomy.

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  • Highlights of the FASB’s March 14 meeting

    Mar 15, 2018

    At its March 14, 2018, meeting, the FASB discussed its projects on (1) disclosures by business entities about government assistance and (2) defined benefit plans.

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  • FASB issues ASU amending certain SEC guidance

    Mar 09, 2018

    The FASB has issued Accounting Standards Update (ASU) No. 2018-04, “Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 117 and SEC Release No. 33-9273.”

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  • A roadmap to accounting and financial reporting for carve-out transactions (2018) Image
  • A roadmap to accounting and financial reporting for carve-out transactions (2018)

    published Mar 23, 2018

    This Roadmap summarizes key factors for entities to consider in preparing carve-out financial statements (i.e., financial statements derived from the financial statements of a larger parent entity). Topics discussed include the basic principles of a carve-out transaction, accounting and disclosure guidance on common balance sheet and income statement items included in carve-out financial statements, and SEC reporting topics that entities should take into account when preparing IPO and other SEC filings.

  • Revenue From Contracts With Customers — A guide to IFRS 15 Image
  • Revenue From Contracts With Customers — A guide to IFRS 15

    published Mar 21, 2018

    Deloitte Touche Tohmatsu Limited has published “Revenue From Contracts With Customers — A Guide to IFRS 15.” This 254-page publication is intended to help preparers and users of financial statements understand the impact of adopting IFRS 15, “Revenue From Contracts With Customers,” which is now effective.

  • Audit Committee Brief — March 2018  Image
  • Audit Committee Brief — March 2018

    published Mar 21, 2018

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

  • Life Sciences — Accounting and Financial Reporting Update (2018) Image
  • Life Sciences — Accounting and Financial Reporting Update (2018)

    published Mar 19, 2018

    The 2018 edition of our annual accounting and financial reporting update for the life sciences industry highlights key topics affecting the industry and includes interpretive guidance, an analysis of SEC comment letter trends, and a discussion of relevant standard setting.

  • IFRS on point — February 2018 Image
  • IFRS on Point — February 2018

    published Mar 12, 2018

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

  • Heads Up — FASB issues proposed ASU on cloud computing arrangements Image
  • Heads Up — FASB issues proposed ASU on cloud computing arrangements

    published Mar 02, 2018

    This Heads Up discusses the FASB’s proposed ASU "Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract — Disclosures for Implementation Costs Incurred for Internal-Use Software and Cloud Computing Arrangements," which was issued in response to the consensus-for-exposure reached by the FASB’s Emerging Issues Task Force on Issue 17-A. The proposed ASU would amend ASC 350-40 to address a customer’s accounting for implementation costs incurred in a cloud computing arrangement (CCA) that is a service contract. It would also add certain disclosure requirements related to implementation costs incurred for internal-use software and CCAs. Comments on the proposed ASU are due by April 30, 2018.

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