Ideas & Insights

The CAQ has updated its framework for compiling inflation data to assist financial statement preparers in applying ASC 830.

The FASB has clarified that certain ASC 848 expedients and exceptions apply to derivatives affected by the discounting transition.

Potential extension of the financial reporting relief related to TDRs and CECL provided to certain financial institutions in the CARES Act.

FASB proposes a goodwill impairment triggering event alternative for certain private companies and not-for-profit entities.

Clarifications have been provided on the interagency statement on loan modifications for customers affected by COVID-19.

The GASB recently released a proposed implementation guide to address a wide array of practice issues related to GASB Statements.

We have published a new edition of our guide regarding the accounting for debt modifications, restructurings and exchanges.

The FASB will propose an ASU that would provide a goodwill impairment triggering event alternative for certain entities.

A PCAOB resource provides information for audit committees about new requirements for auditing estimates and use of specialists.

Recently issued ASU 2020-11 provides an additional year for the implementation of ASU 2018-12 and eases its adoption provisions.

The SEC has provided transitional FAQs in response to questions about amended Regulation S-K Items 101, 103 and 105.

The SEC recently issued a final rule to address difficulties and confusion in applying the exempt offering framework.

A recently released mortality improvement scale should be considered when measuring benefit plan costs and obligations.

The Chief Accountant of the SEC Division of Investment Management recently addressed certain financial reporting matters.

A recent FASB proposal addresses the accounting for modifications or exchanges of certain equity-classified forwards and options.

The FASB recently proposed amendments to address certain issues arising from the adoption of the leases standard.

Our annual Effective Date Reminder lists pronouncements issued as of Nov. 1, 2020, which became effective on or after Jan. 1, 2020.

A recent FASB ASU makes minor technical corrections and clarifications to the Accounting Standards Codification.

A recent FASB Staff Educational Paper provides an overview of the accounting guidance for common debt modifications and exchanges.

A recent proposed ASU would clarify the scope of ASC 848 with respect to certain transitions in the derivatives market.