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  • FASB (US Financial Accounting Standards Board) Image
  • FASB combines ASC 220 and ASC 225

    Nov 17, 2017

    As part of its project on Codification improvements, the FASB has published a maintenance update that combines the guidance in ASC 220, “Comprehensive Income,” and ASC 225, “Income Statement,” into one topic.

  • SEC (US Securities and Exchange Commission) Image
  • SEC chairman issues statement on consolidated audit trail

    Nov 16, 2017

    SEC Chairman Jay Clayton has issued a statement regarding the request by national securities exchanges and FINRA (the “SROs”) to extend the initial deadline for reporting related to the consolidated audit trail (CAT) by one year and other deadlines by a year or more.

  • FAF (US Financial Accounting Foundation)  Image
  • FAF announces FASB and trustee appointments

    Nov 15, 2017

    The FAF has announced that James L. Kroeker has been reappointed as FASB vice-chairman and that Gary R. Buesser has been appointed as a FASB board member. In addition, Kathleen L. Casey, Jeffrey L. Esser, and David C. Villa have been appointed to the FAF board of trustees.

  • FASB document Image
  • FASB discusses disclosure framework

    Nov 10, 2017

    At its November 8, 2017, meeting, the FASB discussed the entity’s decision process component of its disclosure framework project.

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  • Highlights from the FASB’s November 1 meeting

    Nov 02, 2017

    At its November 1, 2017, meeting, the FASB discussed its projects on (1) long-duration insurance contracts, (2) the disclosure framework, and (3) Codification improvements.

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  • Audit Committee Brief — November 2017 Image
  • Audit Committee Brief — November 2017

    published Nov 16, 2017

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

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  • Journal entry — FASB tentatively decides to amend definition of materiality

    published Nov 13, 2017

    At its meeting on November 8, 2017, the FASB discussed the proposed definition of materiality in FASB Concepts Statement No. 8, Conceptual Framework for Financial Reporting (CON 8), and ASC 235. The Board tentatively decided that it would amend the definition of materiality, including the removal of the reference to materiality as a “legal concept.”

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