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Audit article SEC Final Rule amends Volcker Rule
In this issue we review the SEC final rule amending Section 13 of the Bank Holding Company Act, commonly referred to as the “Volcker Rule.”
Audit article SEC staff issues statement on LIBOR transition
SEC highlights certain risks associated with the expected discontinuation of LIBOR past 2021.
Audit Article FASB staff addresses lessor inquiry
Two methods identified for operating lease receivable impairment accounting.
Audit Article Smaller reporting company redefined
In this issue we review the smaller reporting company redefined by the SEC.
Audit article FASB proposes deferring some effective dates
Learn the standards that will be affected by the proposals made by the FASB to defer some effective dates of several standards.
Audit Alert ACS 606- Revenue from contracts with customers
In May 2014 the Financial Accounting Standard Board (FASB) and the International Accounting Standard Board (IASB) published their largely converged standards on revenue recognition. Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, and IFRS 15 with the same title, created a new principle-based revenue recognition framework that will affect nearly every revenue-generating entity.
Audit Alert The new lease accounting standard
Accounting Standards Codification Topic 842 is the new lease accounting standard published by the Financial Accounting Standard Board (FASB), replacing the previous US GAAP leasing standard, ASC 840. This new accounting standard seeks to improve transparency, comparability, and financial reporting, however achieving compliance will require significant effort
Audit Article EITF discusses three issues at June 13 meeting
EITF discusses the revenue contract liabilities, interactions between Topics 321 and 323, and modifications of licenses of intellectual property.
Audit Article Planning for intangible business risk
5 tips to manage enterprise risk in businesses driven by innovation
Audit article Accountability in the financial reporting process
In this issue we review the role of audit and management in the financial reporting chain.
Audit Article Proposed accounting standard update for Business Combinations
FASB proposes an accounting standard update for Business Combinations.
Audit Article Narrow Scope Improvements for lessors
The FASB recently issued ASU 2018-20, Leases (Topic 842): Narrow Scope Improvements for Lessors, which simplifies how lessors implement the new leasing guidance in ASC 842, Leases.
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