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  • AICPA (American Institute of CPAs) Image
  • AICPA issues SAS 132

    Feb 23, 2017

    The AICPA’s Auditing Standards Board has published Statement on Auditing Standards (SAS) No. 132, “The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern.”

  • SEC (US Securities and Exchange Commission) Image
  • President Trump signs resolution eliminating SEC disclosure rule

    Feb 15, 2017

    President Donald Trump has signed H.J. Resolution 41, which eliminates the requirement under which issuers engaged in the commercial development of oil, natural gas, or minerals must disclose certain payments made to U.S. federal and foreign governments.

  • Podcast (blue) Image
  • FASB holds podcast on stock compensation

    Feb 15, 2017

    The FASB has held an investor podcast that provides an overview of the amendments made by Accounting Standards Update (ASU) No. 2016-09, "Improvements to Employee Share-Based Accounting."

  • FASB meeting Image
  • FASB discusses long-duration insurance contracts

    Feb 09, 2017

    At its February 8, 2017, meeting, the FASB discussed feedback received on its September 2016 proposed ASU, "Targeted Improvements to the Accounting for Long-Duration Contracts." No technical decisions were made.

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  • FASB redeliberates targeted improvements to hedge accounting Image
  • Journal entry — FASB redeliberates targeted improvements to hedge accounting

    published Feb 16, 2017

    At its February 15, 2017, meeting, the FASB redeliberated its 2016 proposed Accounting Standards Update (ASU), "Targeted Improvements to Accounting for Hedging Activities," and made tentative decisions about whether (1) an entity should be able to return to performing qualitative assessments of hedge effectiveness after having performed a quantitative assessment, either because of a change in facts and circumstances or to otherwise validate continued use of qualitative assessments, and (2) private companies should have additional time to prepare their hedge documentation.

  • Audit Committee Brief — February 2017 Image
  • Audit Committee Brief — February 2017

    published Feb 15, 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 — January 2017 Image
  • IFRS on Point — January 2017

    published Feb 15, 2017

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

  • Accounting Roundup — January 2017 Image
  • Accounting Roundup — January 2017

    published Feb 03, 2017

    This issue features articles on the (1) FASB's issuance of (a) ASUs that clarify the definition of a business, amend the consolidation guidance for not-for-profit entities, simplify the goodwill impairment test, make technical corrections to the new revenue standard, and amend certain SEC guidance and (b) proposed ASUs that would simplify the balance sheet classification of debt and update the inventory disclosure requirements, (2) the release of FAQs on the FASB's credit losses standard by several banking agencies, and (3) public statements by the SEC's acting chairman, Michael Piwowar, regarding the Commission's 2014 guidance on its August 2012 final rule on conflict minerals.

  • Deloitte comments on targeted changes to guidance on liabilities and equity Image
  • Deloitte comments on FASB's proposed changes to guidance on liabilities and equity

    published Feb 03, 2017

    Deloitte & Touche LLP comments on the FASB's Proposed Accounting Standards Update, Distinguishing Liabilities From Equity (Topic 480): I. Accounting for Certain Financial Instruments With Down Round Features and II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests With a Scope Exception, which was issued in December 2016.

  • Journal entry — FASB redeliberates on premium amortization of purchased callable debt securities Image
  • Journal entry — FASB redeliberates on premium amortization of purchased callable debt securities

    published Feb 03, 2017

    In September 2016, the FASB issued a proposed Accounting Standards Update (ASU) that would make narrow-scope improvements to accounting for premium amortization associated with purchased callable debt securities. At its February 1, 2017, meeting, the FASB redeliberated the project and (1) discussed the summary of the comments received on the proposed ASU, (2) reached tentative decisions on four key issues raised in the comment letters it received, and (3) directed its staff to draft a final ASU.

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