Stay relevant with the latest technical accounting and financial reporting developments from the FASB, SEC, AICPA and other regulatory bodies.

FASB Issues Guidance to Improve Accounting for Hedging Activities

Sep 1, 2017

On 28 August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The FASB issued this ASU to simplify current hedge accounting requirements in U.S. GAAP, which curren ...

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FASB Proposes Improvements to Accounting Guidance for Contributions

Aug 7, 2017

On 3 August 2017, the FASB issued a proposed ASU, Not-for-Profit Entities – (Topic 958) Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. The amendments in the proposed update would provide a more r ...

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The Impact of Topic 606 on Disclosures, Accounting Policies, and Internal Controls

Aug 2, 2017

As Companies Focus on Implementation Efforts for the New Revenue Recognition Standard (Topic 606), It is Important to Consider the Impact on Disclosures, Accounting Policies, Internal Controls and Process Documentation On May 12, 2017, MBAF released ...

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FASB Proposes Improvements to Related Party Guidance for Variable Interest Entities

Jun 26, 2017

On 22 June 2017, the FASB issued a proposed ASU, Consolidation – (Topic 718) Targeted Improvements to Related Party Guidance for Variable Interest Entities. The FASB issued this proposed ASU in response to stakeholders’ observations that ...

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FASB Issues Guidance to Determine the Customer in Service Concession Arrangements of Share-Based Payment Awards

May 22, 2017

On 16 May 2017, the FASB issued ASU No. 2017-10, Service Concession Arrangements (Topic 853): Determining the Customer of the Operation Services. The FASB issued this ASU to eliminate diversity in practice in how an operating entity determines the cu ...

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AICPA Releases New Standards on Evaluating Cybersecurity Risk Management Programs

May 17, 2017

In response to growing market demand from customers, vendors, business partners and regulators for useful information about an entity’s cybersecurity risk management efforts, the AICPA has expanded the options available for organizations to vol ...

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