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  • PCC meeting Image
  • PCC holds December 2017 meeting

    Dec 15, 2017

    At its December 8, 2017, meeting, the Private Company Council (PCC) discussed the FASB’s projects on cloud computing and disaggregation of performance information as well as Board decisions on ITC agenda.

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  • Highlights of the FASB’s December 13 meeting

    Dec 15, 2017

    At its December 13, 2017, meeting, the FASB discussed (1) implementation of its standard on credit losses, (2) improvements to nonemployee share-based payment accounting, (3) revenue recognition of grants and contracts by not-for-profit entities, (4) distinguishing liabilities from equity, (5) segment reporting, and (6) financial performance reporting.

  • AICPA (American Institute of CPAs) Image
  • AICPA issues revenue working draft for broker-dealers

    Dec 15, 2017

    The AICPA’s Revenue Recognition Task Force has released for public comment a working draft on accounting issues associated with the implementation of the new revenue standard for broker-dealers.

  • GASB document Image
  • GASB proposes guidance on interest cost

    Dec 11, 2017

    The GASB has issued an exposure draft (ED), “Accounting for Interest Cost During the Period of Construction,” which aims to “enhance the relevance and comparability of information about capital assets and the cost of borrowing for a reporting period and . . . simplify accounting for interest cost incurred during the period of construction.”

  • GASB document Image
  • GASB proposes implementation guide

    Dec 08, 2017

    The GASB has issued proposed Implementation Guide No. 201Y-X, “Implementation Guidance Update — 201Y,” which consists of Q&As that would “clarify, explain, or elaborate on” certain GASB Statements.

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  • A roadmap to accounting for income taxes (2017 edition) Image
  • A roadmap to accounting for income taxes (2017)

    published Dec 14, 2017

    This Roadmap provides Deloitte’s insights into and interpretations of the income tax accounting guidance in ASC 740 and IFRSs. Throughout the Roadmap, new guidance has been added, examples related to some of the guidance included in the previous edition have been added or substantively revised, and minor edits have been made to existing guidance to improve its clarity. This edition does not include updates related to tax reform legislation that was recently proposed by Congress but had not been enacted before this edition was published. If a final bill is enacted, updated guidance addressing the impact of the legislation’s provisions on the accounting for income taxes under ASC 740 will be included in a subsequent edition.

  • IFRS on Point — November 2017 Image
  • IFRS on Point — November 2017

    published Dec 08, 2017

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

  • A roadmap to accounting for contracts on an entity’s own equity (2017) Image
  • A roadmap to accounting for contracts on an entity’s own equity (2017)

    published Dec 07, 2017

    The 2017 edition of A Roadmap to Accounting for Contracts on an Entity’s Own Equity provides an overview of the guidance in ASC 815-40 as well as insights into and interpretations of how to apply it in practice. For ease of reference, we have accompanied our discussion with the related authoritative text. This edition reflects changes to the guidance introduced by the FASB’s issuance of ASU 2017-11 in July 2017.

  • Heads Up — FASB tentatively decides to relieve entities from implementing certain aspects of the new leasing standard Image
  • Heads Up — FASB tentatively decides to relieve entities from implementing certain aspects of the new leasing standard

    published Dec 05, 2017

    This Heads Up discusses the tentative decisions the FASB made at its November 29, 2017, meeting to amend certain aspects of its new leasing standard, ASU 2016-02. Specifically, the Board tentatively decided that (1) entities may elect not to restate their comparative periods in the period of adoption when transitioning to the new standard and (2) lessors may elect not to separate lease and nonlease components when certain conditions are met. In addition, the Board discussed stakeholder feedback on its proposed ASU related to the land easement practical expedient associated with transition to ASC 842 and voted to move forward with drafting a final ASU.

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