Every month, RubinBrown publishes monthly alerts to inform our clients and contacts about relevant technical accounting and audit-related information. Current and archived issues of the RubinBrown Accounting & Auditing Alert can be viewed with the links below.
Every month, RubinBrown publishes monthly alerts to inform our clients and contacts about relevant technical accounting and audit-related information. Current and archived issues of the RubinBrown Accounting & Auditing Alert can be viewed with the links below.
The FASB has issued an Exposure Draft, Leases (Topic 842): Common Control Arrangements. This Exposure Draft is an outcome of concerns expressed by private company stakeholders about the application of ASC 842 for common control arrangements identified during the FASB’s post-implementation review process.
Learn moreThe FASB has issued an Exposure Draft that is intended to improve the information available to financial statement users related to the effects of supplier finance programs on a buyer’s working capital, liquidity and cash flows.
Learn moreThe FASB has issued an Exposure Draft for public comment that is intended to reduce diversity in practice on whether a contractual restriction that prohibits the sale of an equity security should be considered in measuring its fair value in accordance with Topic 820, Fair Value Measurements.
Learn moreThe FASB has issued ASU 2021-05, Lessors – Certain Leases with Variable Lease Payments.
Learn moreThis RubinBrown Focus on Lease Accounting is the fourth in a series of articles on the new accounting guidance for leases, Accounting Standards Codification Topic 842, Leases (ASC 842). In this series, we will explore different aspects of the new standard. Please contact a member of your RubinBrown team for more information and ways that we may be able to help you.
Learn moreThe FASB has issued an Exposure Draft, requesting comment by July 16, 2021, related to Leases (Topic 842): Discount Rate for Lessees That Are Not Public Business Entities to provide private companies, not-for-profit entities and employee benefit plans more flexibility in how the discount rate would be determined.
Learn moreThe Financial Accounting Standards Board has issued ASU No. 2021-04, Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options that is intended to reduce diversity in practice in the accounting for the modification or exchange of freestanding equity-classified written call options that remain equity classified after the modification or exchange.
Learn moreThe FASB has issued an Exposure Draft, requesting comment by July 5, 2021, related to potential changes to fair value hedging for entities that apply the portfolio layer method (currently referred to as the last-of-layer method).
Learn moreThe FASB has issued ASU 2021-03, Intangibles – Goodwill and Other (Topic 350): Accounting Alternative for Evaluating Triggering Events to provide private companies and not-for-profit entities with the option to perform the identification and evaluation of a triggering event for goodwill impairment as of the end of the reporting period.
Learn moreThe FASB has issued ASU No. 2021-02, Franchisors—Revenue from Contracts with Customers: Practical Expedient that is intended to ease the accounting burden on private company franchisors.
Learn moreThe FASB has issued ASU 2021-01, Reference Rate Reform (Topic 848). Recently, the FASB has worked to try to ease the potential accounting burden of the expected move of global capital markets away from LIBOR (or another reference rate that is expected to be discontinued) as a result of reference rate reform.
Learn moreThe FASB has issued an Exposure Draft for public comment that is intended to reduce inconsistency and diversity in practice in the accounting for revenue from contracts with customers acquired in a business combination.
Learn moreThe FASB has issued an Exposure Draft related to potential changes to the evaluation of goodwill impairment.
Learn moreThe FASB has issued an Exposure Draft for public comment that is intended to clarify and reduce diversity in practice in the accounting for modifications and exchanges of freestanding, equity-classified forward and option contracts that remain equity classified after the modification or exchange.
Learn moreIn October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs that is intended to clarify the accounting for certain callable debt securities.
Learn moreIn March 2020, the FASB issued ASU 2020-04 – Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting.
Learn moreThe FASB has issued an Exposure Draft related to Leases (Topic 842) intended to improve three targeted areas of the lease guidance.
Learn moreThe FASB has recently issued ASU 2020-07, Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. Prior to ASU 2020-07, there were no specific disclosure requirements for contributed nonfinancial assets other than for contributed services.
Learn moreIn September 2020, the FASB issued an Exposure Draft for public comment that is intended to ease the potential accounting burden on private company franchisors.
Learn moreIn response to feedback from private company stakeholders, the Private Company Council noted that determining the fair value of traditional share-option awards at the grant date or at a modification date is costly and complex as private company equity shares often do not have an observable market price, as the shares are not actively traded.
Learn more