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 published an invitation to comment (ITC) related to the potential incorporation of IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, into GAAP with comments to be accepted until September 12, 2022 in order to get feedback on recognition, measurement, and presentation requirements of IAS 20.
Learn moreThe FASB has issued an Exposure Draft intended to simplify and improve the application of Topic 326, Financial Instruments – Credit Losses to purchased financial assets. As currently written, the existing guidance requires entities to differentiate purchased financial assets between those with a “more-than-insignificant” deterioration in credit quality (PCD assets) and those without a “more-than-insignificant” deterioration (non-PCD assets) as of the acquisition date.
Learn moreThe FASB has issued an Exposure Draft for public comment that is intended to improve the accounting guidance and disclosure of certain crypto assets.
Learn moreThe FASB has issued a proposed fifth chapter of its Concepts Statement No. 8, Conceptual Framework for Financial Reporting, entitled “Recognition And Derecognition”. This chapter seeks to establish criteria and guidance on when an item should be incorporated into and removed from financial statements.
Learn moreThe FASB has issued an Exposure Draft related to Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method, which would allow for reporting entities to account for investments made primarily for the purpose of receiving income tax credit and other income tax benefits consistently.
Learn moreThe 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 issued a proposed second chapter of its Concepts Statement No. 8, Conceptual Framework for Financial Reporting, entitled “The Reporting Entity”. This chapter seeks to describe a reporting entity and to provide a framework for matters relating to the identification of a reporting entity.
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