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Quarterly Accounting Roundup: Third quarter — 2018

Published on: 26 Sep 2018

This issue of Quarterly Accounting Roundup discusses developments that occurred in the third quarter of 2018. This quarter was a busy one for the FASB. Guidance issued by the Board includes:

  • Accounting Standards Updates (ASUs) on (1) cloud computing, (2) Codification improvements, (3) improving disclosure effectiveness, (4) long-duration insurance contracts, and (5) targeted amendments to the leasing guidance in ASC 842.
  • Proposed ASUs on (1) credit losses and (2) targeted improvements to the lessor accounting model in ASC 842.

On the regulatory front, the SEC continued to advance its disclosure effectiveness initiative by releasing several final and proposed rules, including the following:

  • A final rule that amends certain disclosure requirements “that have become redundant, duplicative, overlapping, outdated, or superseded, in light of other Commission disclosure requirements, [U.S. GAAP], or changes in the information environment.”
  • A proposed rule that would amend certain disclosure requirements related to registered debt securities.


Correction list for hyphenation

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