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Accounting Roundup: Year in Review — 2016

Published on: 16 Dec 2016

Welcome to the 2016 edition of Accounting Roundup: Year in Review. Key developments that occurred in 2016 included the following:

  • The FASB’s release of its much-anticipated standards on leases and credit losses as well as several ASUs on implementation issues associated with its new revenue standard.
  • The SEC’s increased focus on non-GAAP measures and continued work on its disclosure initiative.
  • The IASB’s issuance of its new leases standard as well as amendments to its revenue and nsurance contracts standards.
  • The United Kingdom's vote to leave the European Union in a June 23, 2016, referendum (the "Brexit vote") and its resulting financial reporting implications.

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