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.
 

September 16, 2021

• Audited financial statements and climate-related risk considerations

September 7, 2021

• Full issue
• Monitoring inflation when applying ASC 830
• FINRA update: Financial and operational rules for broker-dealers

August 24, 2021

• Full issue
• Updates to SBA’s PPP loan FAQ for borrowers and lenders
• Recipient accounting for SVOG and RRF grants
• SEC statement on recent developments in China
• FASB updates Codification for SEC Releases
• Minor proposed amendment to transition requirements for IFRS 17

August 10, 2021

• Full issue
• Accounting for certain leases with variable lease payments
• Withdrawal of SBA loan necessity questionnaire for PPP loans
  
• PRF distributions: Delayed reporting and new reporting portal
• Anonymous hoax reports to ethics and whistleblower hotlines
• The external auditor’s responsibilities with respect to illegal acts
• GASB proposes omnibus statement
• IASB proposes reduced disclosures for certain subsidiaries
  

July 27, 2021

• Highlights of recent SEC Regulations Committee meeting

June 29, 2021

• Full issue
• Updated: Goodwill accounting alternatives for certain entities 
• Coronavirus: Updates about certain Provider Relief Fund requirements
• Proposed guidance: Discount rate for lessees that are not PBEs
• Guidance regarding use of specialists and pricing information

June 15, 2021

• Full issue
• GASB issues implementation guidance
• GASB proposal: Accounting changes and error corrections

May 18, 2021

• Full issue
• RSM’s special pricing on Checkpoint technical accounting research tool
• Accounting for modifications of call options, including warrants
• FASB proposes to expand hedge accounting 
• Claire Blanton appointed to Professional Ethics Executive Committee
• Jamie Klenieski appointed to the National Peer Review Committee
• SPACs: Auditor and audit committee considerations
• OCC issues Comptroller’s Handbook on Allowances for Credit Losses 
• IFRS amendments to accounting for deferred tax

May 04, 2021

• Full issue
• FASB staff clarifying comments on new goodwill impairment alternative
• Assessment of the effectiveness of management review controls
• Proposal addresses lack of currency exchangeability

April 20, 2021

• Full issue
• Accounting for warrants and other instruments issued by SPACs
• SEC staff issues statement on select SPAC issues
• SEC cautions regarding SPAC liability risk 
• PCAOB staff outlook for 2021 inspections 
• IASB extends practical expedient for COVID-19-related rent concessions

April 6, 2021

• Full issue
• FASB provides goodwill impairment triggering event alternative
• The intersection of ESG matters with financial accounting standards
• A guide to PCAOB inspections
• Obtaining assurance on ESG information

March 23, 2021

• Full issue
• Accounting considerations for PPP loans and Employee Retention Credit
• Division of Examinations’ continued focus on digital asset securities
• Division of Enforcement forms Climate and ESG Task Force
• GASB issues Exposure Draft regarding compensated absences

February 26, 2021

• Full issue
• Interest capitalization for mandatorily redeemable instruments
• Early adoption of ASU 2020-06
• Updated white paper: Changes to revenue recognition for franchisors
• ESG reporting and attestation engagements
• SEC extends annual reports deadline for certain smaller broker-dealers
• IASB amends IAS 1 and IAS 8

February 15, 2021

• Full issue
• ASC 606 practical expedient for private-company franchisors
• Proposed quality management standards
• PCAOB conversations with audit committee chairs
• Offering disclosures during times of extreme price volatility

February 2, 2021

• Full issue
• Additional updates to Coronavirus: Financial reporting considerations
• Elections required for LIBOR-based hedging relationships
• Mitigating the risks of common fraud schemes

January 19, 2021

• Full issue
• Ongoing updates to Coronavirus: Financial reporting considerations 
• Deferred tax asset valuation allowance 
• Updates to our hedging guide for reference rate reform 
• Monitoring inflation when applying ASC 830 
• FASB clarifies scope of reference rate reform guidance 
• GASB guidance for transition from Interbank Offered Rates 
• Gaming Audit and Accounting Guide 
• SEC disclosure guidance for SPACs