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  • PCC meeting Image
  • PCC holds October 2018 meeting

    Oct 18, 2018

    At its October 9, 2018, meeting, the Private Company Council (PCC) discussed the FASB’s projects on targeted improvements to related-party guidance for variable interest entities, implementation of the leasing guidance, distinguishing liabilities from equity, disclosure review related to income taxes, and share-based compensation.

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  • SEC provides filing relief to those affected by Hurricane Michael

    Oct 17, 2018

    The SEC has issued an order stating that publicly traded companies, investment companies, accountants, transfer agents, municipal advisers, and others affected by Hurricane Michael will be conditionally exempt from certain requirements of the federal securities laws.

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  • FASAB issues proposal on materiality

    Oct 16, 2018

    The Federal Accounting Standards Advisory Board (FASAB) has issued a proposed Statement of Federal Financial Accounting Concepts (SFFAC), “Materiality.”

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  • SEC issues 2018−2022 strategic plan

    Oct 11, 2018

    The SEC has issued its strategic plan for fiscal years 2018−2022. The plan outlines the Commission’s mission, vision, values, strategic goals, and objectives.

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  • FASB ratifies EITF consensuses-for-exposure

    Oct 11, 2018

    At its October 10, 2018, meeting, the FASB ratified the Emerging Issues Task Force (EITF) consensuses-for-exposure on Issues 18-A, “Recognition Under Topic 805 for an Assumed Liability in a Revenue Contract,” and 18-B, “Improvements to Accounting for Episodic Television Series,” and directed its staff to draft a proposed ASU on each issue for public comment.

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  • Highlights of the September 2018 FASAC meeting

    Oct 03, 2018

    At its September 25, 2018, meeting, the FASB’s Financial Accounting Standards Advisory Council (FASAC) discussed (1) tax reform and income tax disclosures, (2) the SEC’s disclosure update and simplification, and (3) accounting and reporting alternatives within GAAP.

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  • Heads Up — At "lease" there are answers to transition questions

    published Oct 17, 2018

    This Heads Up addresses certain transition issues associated with the adoption of the guidance in FASB Accounting Standards Codification Topic 842, Leases. Topics discussed in this publication include the interim reporting requirements associated with early adoption (including adoption in the fourth quarter of 2018); the determination of the lease obligation for existing operating leases; and the nuances of historical build-to-suit accounting, including the implications of historical impairments.

  • Financial Reporting Alert 17-6 — Financial reporting implications of disasters Image
  • Financial Reporting Alert 17-6 — Financial reporting implications of disasters

    published Oct 17, 2018

    This Financial Reporting Alert highlights some of the financial reporting implications of disasters for entities reporting under U.S. GAAP. Those implications can include the accounting for asset impairments, the income statement classification of losses, insurance recoveries, and additional exposure to environmental remediation liabilities. The newsletter includes information on how entities affected by recent storms may be able to apply for relief from SEC filing requirements.

  • Audit Committee Brief — October 2018 Image
  • Audit Committee Brief — October 2018

    published Oct 17, 2018

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

  • Deloitte comments on AICPA's proposed revisions to SSAE 18 Image
  • Deloitte comments on AICPA's proposed revisions to SSAE 18

    published Oct 12, 2018

    Deloitte & Touche LLP comments on the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) on its proposed Statement on Standards for Attestation Engagements (SSAE), "Revisions to Statement on Standards for Attestation Engagements No. 18, Attestation Standards: Clarification and Recodification."

  • IFRS on Point — September 2018  Image
  • IFRS on Point — September 2018

    published Oct 12, 2018

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

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  • Journal entry — SEC releases updates to EDGAR system, including new validation rules for XBRL filings

    published Oct 04, 2018

    The SEC’s EDGAR system and the EDGAR Filer Manual (EFM) contain rules and requirements for preparing and submitting electronic filings to the SEC. The SEC periodically updates EDGAR and the EFM to implement new electronic filing requirements or enhance the processing of existing requirements. On October 1, 2018, the SEC made changes to the EFM as part of EDGAR Release 18.3, which includes changes in how the SEC validates XBRL documents upon submission. The new rules related to XBRL filings are outlined in this publication.

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