Accounting Roundup – July 2010

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03 Aug 2010

We have posted the July 2010 Edition of Accounting Roundup (published by Deloitte & Touche LLP (United States). The newsletter covers United States and international accounting and auditing matters, including IASB-FASB convergence.

Topics covered in this issue include:


  • FASB Proposes Guidance on Expanded Disclosures for Certain Loss Contingencies
Foreign Currency Matters
  • Foreign Currency Exchange Accounting Implications of Recent Government Actions in Venezuela
  • EITF Deliberates the Accounting for Multiple Foreign Currency Exchange Rates (Issue 10-B)
Intangibles — Goodwill and Other
  • EITF Deliberates How the Carrying Amount of a Reporting Unit Should Be Calculated When Performing Step 1 of the Goodwill Impairment Test (Issue 10-A)
Plan Accounting — Defined Benefit Pension Plans
  • FASB Ratifies Consensus-for-Exposure on Accounting for Participant Loans in Employee Benefit Plan Financial Statements (Issue 10-C)
Presentation of Financial Statements
  • FASB and IASB Propose Sweeping Changes to Financial Statement Presentation
  • FASB Enhances Disclosures About the Credit Quality of Financing Receivables and the Allowance for Credit Losses
Industry Accounting
  • EITF Reaches Final Consensus on Accounting for Costs Associated With Acquiring or Renewing Insurance Contracts (Issue 09-G)
  • EITF Deliberates Revenue Recognition for Health Care Entities (Issue 09-H)
  • EITF Reaches Final Consensus on Presentation of Insurance Claims and Related Insurance Recoveries for Health Care Entities (Issue 09-K)
  • EITF Reaches Final Consensus on Measuring Charity Care for Disclosure for Health Care Entities (Issue 09-L)
  • EITF Reaches Consensus-for-Exposure on Accounting for Certain Fees Associated With Recently Enacted Health Care Legislation (Issue 10-D)
Other Accounting
  • FASB Issues "Pre-Release" of 2011 U.S. GAAP Reporting Taxonomy for Public View
  • AICPA Issues Various Technical Practice Aids
  • Dodd-Frank Wall Street Reform and Consumer Protection Act Signed Into Law
Other SEC Matters
  • SEC Issues Proposed Rule on Mutual Fund Distribution Fees
  • SEC Issues C&DIs on Use of Credit Ratings
  • SEC Updates Financial Reporting Manual
  • SEC Publishes Concept Release on the U.S. Proxy System
  • CAQ Releases Highlights of SEC Regulations Committee's April 6 Meeting
Other Auditing
  • ASB Issues Interpretation 8 of AT Section 101
  • ASB Issues Proposed SAS to Revise Applicability of SAS 116
  • ASB Issues Proposed SAS on Letters for Underwriters and Certain Other Requesting Parties
  • ASB Issues Proposed SAS on Interim Financial Information
  • ASB Issues Proposed SSARS on the Applicability of SSARSs
  • PCAOB Issues Proposed Standard on Audit Confirmations
  • PCAOB Issues Staff Practice Alert on Using the Work of Other Auditors and Engaging Assistants From Outside the Firm
GASB Matters
  • GASB Issues Guidelines for Reporting of SEA Performance Information
Click for July 2010 Accounting Roundup (PDF 379k). You will find past issues of Accounting Roundup Here.


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