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  • FASB meeting Image
  • Highlights from the FASB’s June 21 meeting

    Jun 23, 2017

    At its June 21, 2017, meeting, the FASB discussed its projects on (1) leases, (2) revenue recognition, (3) recognition and measurement of financial instruments, (4) consolidation, and (5) disclosure review — inventory.

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  • FASB proposes improvements to consolidation guidance

    Jun 23, 2017

    The FASB has issued a proposed Accounting Standards Update (ASU), “Targeted Improvements to Related Party Guidance for Variable Interest Entities,” which is based on recommendations made by the Private Company Council.

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  • IASB proposes amendments to IAS 16

    Jun 20, 2017

    The IASB has published an exposure draft (ED), “Property, Plant and Equipment — Proceeds Before Intended Use,” which proposes narrow-scope amendments intended to reduce the diversity in the application of IAS 16.

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  • Highlights from the FASB’s June 7 meeting

    Jun 09, 2017

    At its June 7, 2017, meeting, the FASB discussed its projects on (1) hedging and (2) revenue recognition of grants and contracts by not-for-profit entities.

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  • IASB publishes IFRIC 23 on uncertain income tax treatments

    Jun 07, 2017

    The IASB has published IFRIC 23, “Uncertainty Over Income Tax Treatments,” which clarifies how to apply the recognition and measurement requirements in IAS 12, “Income Taxes,” when there is uncertainty regarding income tax treatments.

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  • AICPA issues 12 revenue working drafts

    Jun 06, 2017

    The AICPA’s revenue recognition task forces have released for public comment 12 working drafts on accounting issues associated with the implementation of the new revenue standard for asset management, engineering and construction, gaming, health care, hospitality, and software entities.

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  • TRG Snapshot — Meeting on credit losses: June 2017 Image
  • TRG Snapshot — June 2017 TRG meeting on credit losses

    published Jun 23, 2017

    This TRG Snapshot summarizes the June 12, 2017, public meeting of the FASB’s credit losses transition resource group (TRG). This TRG meeting was the first to be attended by the FASB since it issued the CECL guidance.

  • Audit & Assurance Update — A summary of the May 24–25 meeting of the PCAOB’s Standing Advisory Group Image
  • Audit & Assurance Update — A summary of the May 24–25 meeting of the PCAOB’s Standing Advisory Group

    published Jun 22, 2017

    This Audit & Assurance Update summarizes the May 24–25, 2017, PCAOB Standing Advisory Group (SAG) meeting, which included (1) an update on recent PCAOB developments, including an overview of its current and future standard-setting activities; (2) SAG breakout sessions on recent trends in the use of data and technology and other emerging audit issues; (3) an overview of recent trends in enforcement; and (4) examples of economic research and related implications.

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  • Audit Committee Brief — June 2017

    published Jun 21, 2017

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

  • Heads Up — PCAOB adopts changes to the auditor’s report Image
  • Heads Up — PCAOB adopts changes to the auditor’s report

    published Jun 20, 2017

    This Heads Up provides an overview of the PCAOB new auditing standard, "The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion [AS 3101] and Related Amendments to PCAOB Standards."

  • IFRS on Point — May 2017 Image
  • IFRS on Point — May 2017

    published Jun 19, 2017

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

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  • Journal entry — FASB votes to finalize ASU on hedging

    published Jun 12, 2017

    At its June 7, 2017, meeting, the FASB completed deliberations for its project on targeted improvements to the hedge accounting model and voted to proceed with a new Accounting Standards Update (ASU), which it expects to issue in August 2017.

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