Financial Reporting Insights

A biweekly resource for recent financial reporting developments

This page provides access to the most recent editions of Financial Reporting Insights. For access to an 18-month archive of Insights articles organized by topic, visit our Financial Reporting Resource Center.

March 24, 2020

• Full issue
• Coronavirus: Financial reporting considerations
• Lease accounting resource center
• Accounting guidance for the effects of reference rate reform
• Accounting for freestanding insurance contracts under ASU 2016-13
• ASU 2020-03 addresses various financial instruments topics
• Coronavirus: Interagency statement on loan modifications
• Amendments to AU-C Sections 800, 805 and 810
• Amendments to accelerated and large accelerated filer definitions
• SEC proposes to simplify the exempt offering framework
• Final interagency policy statement on allowances for credit losses
• GASB Exposure Draft addresses accounting for Section 457 plans

March 10, 2020

• Full issue
• Amended rules simplify certain registered debt offering disclosures
• Proposed enhancements to framework for notes to financial statements

February 25, 2020

• Full issue
• Our commitment to audit quality and professional excellence
• Effects of the coronavirus on financial reporting
• Credit losses: FASB codifies SAB 119
• Leases: Amendment to SEC paragraph of FASB ASC
• White House proposes to consolidate PCAOB into SEC
• Proposal: Accounting for contributed nonfinancial assets
• GASB issues omnibus statement
• Revisions to SSARS issued
• Updated comparisons of U.S. GAAP and IFRS on a variety of topics

February 11, 2020

• Full issue
• ASC 326: Credit losses—Abbreviated readiness checklist for nonlenders
• Updated leases overview and lessee accounting guide
• Monitoring inflation when applying ASC 830
• FASB Staff Q&A document: Revenue recognition implementation
• Updated: Q&A on the public business entity definition
• Updated white paper: Revenue recognition in the life sciences industry
• Updated white paper: Revenue recognition for professional services
• Updated white paper: Revenue recognition in the insurance industry
• Clarifying the interactions between ASC 321, ASC 323 and ASC 815
• Proposed amendments to certain financial disclosure requirements
• Financial institutions: Overview of lessor accounting under ASC 842
• Loan loss allowance for specialty lenders is a key due diligence issue
• Updated white paper: Revenue recognition for financial institutions
• IASB clarifies requirements for classifying liabilities

January 16, 2020

• Full issue
• New broadly applicable financial instruments guidance taking effect 
• Practice aid: Accounting for digital assets
• NASBA and AICPA propose new CPA licensure model
• SEC proposes amendments to certain auditor independence requirements
• Highlights of recent SEC Regulations Committee meeting

January 3, 2020

• Full issue
• Evaluation of the realizability of a Section 163(j) carryforward
• FASB issues standard to simplify the accounting for income taxes
• SEC proposes to amend definition of “accredited investor”
• ASB issues revised standard for agreed-upon procedures engagements
• IAASB enhances and modernizes ISA 315
• Proposal: How information is communicated in financial statement

December 19, 2019

• Full issue
• Business combinations: allocation of amounts to foreign subsidiaries
• Updated whitepaper: Revenue recognition in the technology industry
• NCUA delays risk-based capital rules to 2022
• GASB proposes implementation guidance

December 10, 2019

• Full issue
• Narrow-scope amendments to credit losses standard
• SEC Staff Accounting Bulletin No. 119
• Proposed Codification improvements

November 21, 2019

• Full issue
• ASUs defer various effective dates (including CECL & leases)
• Actuarial valuation: New mortality improvement scale released
• Share-based consideration payable to a customer
• Proposed clarifications to the derivatives and hedging standard
• 2019 Audit Committee Transparency Barometer
• Most often cited deficiencies in recent OCIE examinations

November 12, 2019

• Full issue
• 2019 Effective date reminder
• Updated white paper: Changes to revenue recognition for franchisors
• Recognizing costs in construction and production-type contracts