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  • FAF (US Financial Accounting Foundation)  Image
  • FAF trustees announce new and reappointed FASAC and GASAC members

    Dec 18, 2018

    The FAF trustees have appointed 11 new members to the Financial Accounting Standards Advisory Council (FASAC) and 11 new members to the Governmental Accounting Standards Advisory Council (GASAC). The trustees have also announced the reappointments of 21 FASAC members and 8 GASAC members, including GASAC Chairman Robert Scott.

  • SEC (US Securities and Exchange Commission) Image
  • SEC seeks comments on earnings releases and quarterly reports

    Dec 18, 2018

    The SEC has issued “Request for Comment on Earnings Releases and Quarterly Reports,” which solicits comments on how the SEC “can enhance, or at a minimum maintain, the investor protection attributes of periodic disclosures while reducing administrative and other burdens on reporting companies associated with quarterly reporting.”

  • AICPA (American Institute of CPAs) Image
  • AICPA releases working draft case studies for its valuation guide

    Dec 18, 2018

    The AICPA’s Financial Reporting Executive Committee has released for public comment two working drafts of case studies for its Accounting and Valuation Guide, “Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies.”

  • PCAOB (US Public Company Accounting Oversight Board) Image
  • PCAOB names new chief auditor

    Dec 14, 2018

    The PCAOB has announced that Megan Zietsman has been named as chief auditor and director of professional standards to replace acting chief auditor Barbara Vanich.

  • PCC meeting Image
  • PCC holds December 2018 meeting

    Dec 13, 2018

    At its December 11, 2018, meeting, the Private Company Council (PCC) discussed the FASB’s projects on (1) disclosures by business entities about government assistance, (2) goodwill and certain identifiable intangible assets, (3) distinguishing liabilities from equity, (4) disclosure improvements in response to the SEC final rule on disclosure update and simplification, (5) Codification improvements to share-based consideration payable to a customer, and (6) a practical expedient related to measuring the grant-date fair value of equity-classified share-based payments.

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  • Speeches from the annual AICPA conference are now available

    Dec 13, 2018

    The 2018 AICPA Conference on Current SEC and PCAOB Developments was held in Washington, D.C., from December 10 to 12. The conference featured speeches by — as well as panel discussions and question-and-answer sessions with — members of the SEC, PCAOB, FASB, and IASB and professionals from various industries.

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  • Heads Up — FASB decks lessors’ halls with “lesser” requirements Image
  • Heads Up — FASB decks lessors’ halls with “lesser” requirements

    published Dec 14, 2018

    This issue discusses the FASB’s recently issued ASU No. 2018-20, "Narrow-Scope Improvements for Lessors," which is being released in response to certain concerns lessors have raised regarding the implementation of the Board’s new leasing standard, ASU 2016-02. Specific aspects of the lessor guidance in ASU 2016-02 that are being amended by ASU 2018-20 include (1) sales taxes and other similar guidance collected from lessees, (2) lessor costs paid directly by a lessee, and (3) recognition of variable payments for contracts with lease and nonlease components.

  • IFRS on Point — November 2018  Image
  • IFRS on Point — November 2018

    published Dec 13, 2018

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

  • Investment Management — Accounting and Financial Reporting Update (2018) Image
  • Investment Management — Accounting and Financial Reporting Update (2018)

    published Dec 11, 2018

    The 2018 edition of our annual update highlights selected accounting and reporting developments that may be of interest to investment management entities. Among other topics, the publication discusses (1) continued work by the various standard setters on issues related to implementation of the new leasing standard and (2) changes to the fair value measurement disclosure requirements in ASC 820.

  • A Roadmap to Accounting for Business Combinations Image
  • A Roadmap to Accounting for Business Combinations

    published Dec 07, 2018

    This Roadmap provides Deloitte’s insights into and interpretations of the guidance in ASC 805 on business combinations, pushdown accounting, common-control transactions, and asset acquisitions as well as an overview of related SEC reporting requirements. While the accounting frameworks for this guidance have been in place for many years, views on applying them continue to evolve. This publication is intended to help entities navigate the guidance and arrive at appropriate accounting conclusions.

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