Audit Article Effective dates of FASB ASUs
Accounting pronouncements issued as of March 31, 2022.
Audit Article AICPA standard on employee benefit plans now effective
In July 2019, the AICPA’s Auditing Standards Board published Statement on Auditing Standards 136, Forming an Opinion and Reporting on Financial Statements of
Audit Article Navigating ASC 606 and 340-40
In May 2014, the FASB and the IASB published their largely converged standards on revenue recognition—ASU 2014-09 and IFRS 15, both titled Revenue from
Audit Article ASU 2021-09 amends discount rate guidance for non-public lessees
The FASB recently issued ASU 2021-09, Leases (Topic 842): Discount Rate for Lessees That Are Not Public Business Entities, which allows lessees that are not
Audit Article ASU 2021-10 requires entities to disclose government assistance
The FASB recently issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance, which aims to provide
Audit Article ASU 2021-07 offers private company practical expedient
The amendments in ASU 2021-07 offer nonpublic entities a practical expedient to use when determining the “current price input” of an equity-classified
Audit Article CorpFin releases sample comments on climate change
This publication summarizes the SEC’s Division of Corporate Finance comment letter disclosures required to some companies related to climate-related or the
Audit Article Effective dates of FASB ASUs
This publication summarizes the effective dates of FASB Accounting Standards Updates that are not yet effective for all entities.
Audit Article ASU 2021-05: Lessors’ accounting for certain leases with variable payments
The Financial Accounting Standards Board recently issued ASU 2021-05 to amend ASC 842 so that lessors are no longer required to recognize a selling loss upon
Audit Article Identifying a business combination
Under the guidance in ASC 805, an entity applies the acquisition method of accounting when it acquires a business or a not-for-profit activity.
Audit Article Short-term lease accounting
On June 3, 2020, the FASB issued Accounting Standards Update 2020-05, Effective Dates for Certain Entities, to defer for certain entities the effective dates
Audit Article Accounting alternative for evaluating triggering events
This article reviews the amendments in ASU 2021-03, Accounting alternative for evaluating triggering events that allow private and not for profit entities to

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