Accounting Journal Entries
Deloitte Accounting Journal Entries briefly summarize the newest developments in U.S. accounting standard setting, usually on the same day they occur.
May 16, 2019
At its May 8, 2019, meeting, the FASB reached tentative decisions related to certain implementation issues of ASU 2017-12, "Targeted Improvements to Accounting for Hedging Activities."
May 10, 2019
At its May 8, 2019, meeting, the FASB decided to add the following two projects to the Emerging Issues Task Force’s (EITF’s) technical agenda: (1) Financial Instruments — Clarifying the Interactions Between Topic 321 and Topic 323; and (2) Revenue Recognition — Contract Modifications of Licenses of Intellectual Property.
May 02, 2019
At its meeting on April 10, 2019, the FASB decided to add a project to its agenda regarding simplifications to accounting for income taxes. The Board tentatively decided on the scope of the project, which is part of its Simplification Initiative. In its initial discussion of this topic, the FASB noted that “accounting for income taxes has consistently been among the top areas of restatements over the last several years,” and is, therefore, worth considering further for simplification.
Mar 07, 2019
On March 5, 2019, the FASB issued ASU 2019-01, Leases (Topic 842): Codification Improvements, which amends certain aspects of the Board’s new leasing standard, ASU 2016-02.
Feb 15, 2019
At its meeting on February 13, 2019, the FASB made several important decisions as part of its project on distinguishing liabilities from equity (including convertible debt).
Feb 14, 2019
At its February 13, 2019, meeting, the FASB concluded deliberations on its December 2018 proposed Accounting Standards Update (ASU) related to Codification improvements to ASC 842. In addition, after discussing comments raised by stakeholders on issues not included in the proposed ASU, the Board tentatively decided to add a Codification improvement on interim disclosure requirements in transition to the new leasing standard.
Jan 03, 2019
On December 20, 2018, the FASB issued a proposed Accounting Standards Update (ASU), which would extend the existing private company accounting alternatives on goodwill and certain identifiable intangible assets to not-for-profit entities (NFPs).
Dec 21, 2018
On December 19, 2018, the FASB issued a proposed ASU, which would provide Codification improvements to ASC 8422 related to the following two issues: (1) determining the fair value of the underlying asset by lessors that are not manufacturers or dealers; and (2) statement of cash flows presentation for sales-type and direct financing leases by lessors within the scope of ASC 942.
Dec 07, 2018
At its December 4, 2018, meeting, the FASB added a project to its technical agenda on Codification improvements to ASC 842 for the following two issues: (1) fair value of the underlying asset by lessors that are not manufacturers or dealers; and (2) statement of cash flows presentation for sales-type and direct financing leases.
Dec 04, 2018
On November 30, 2018, the Center for Audit Quality (CAQ) posted to its Web site the highlights of the September 12, 2018, CAQ SEC Regulations Committee joint meeting with the SEC staff.
Nov 20, 2018
At its meeting on November 14, 2018, the FASB discussed comments received on the proposed ASU and reached several tentative decisions related to many of the proposed ASU’s disclosure requirements. The Board also discussed whether additional disclosures should be considered as a result of the Act.
Nov 15, 2018
At its meeting on November 14, 2018, the FASB discussed the measurement and classification of share-based payments issued as sales incentives to customers under ASC 606.
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