GASB Publishes Omnibus 2020
The Governmental Accounting Standards Board (GASB) has issued new Statement No. 92, Omnibus 2020. Statement 92 includes guidance addressing various accounting and financial reporting issues…
read more
SEC Proposes Amendments to Modernize and Enhance MD&A and Other Disclosures
The SEC proposed for public comment amendments to modernize, simplify, and enhance certain financial disclosure requirements in Regulation S-K. If adopted as proposed, the amendments…
read more
IASB Amends IAS 1 on Classification of Debt as Current or Non-Current
The International Accounting Standards Board (IASB) issued narrow-scope amendments to International Accounting Standards (IAS 1), Presentation of Financial Statements, to clarify how to classify debt…
read more
AICPA Amends the Description of the Concept of Materiality
The AICPA’s Auditing Standards Board (ASB) issued Statement on Auditing Standards (SAS) No. 138, Amendments to the Description of the Concept of Materiality, and Statement…
read more
AICPA Issues SSAE 19 on Agreed-Upon Procedures Engagements
The AICPA’s Auditing Standards Board (ASB) has issued Statement on Standards for Attestation Engagements (SSAE) No. 19, Agreed-Upon Procedures Engagements, to supersede AT-C section 215…
read more
The FASB Delays Certain Effective Dates for Credit Losses, Leases, Hedging, and Long-Duration Insurance Standards
The FASB issued two Accounting Standards Updates (ASUs) that finalize various effective date delays for standards on current expected credit losses (CECL), leases, hedging, and…
read more
FASB Proposes Debt Guidance
The FASB proposes debt guidance for public comment. This proposal is intended to improve guidance used to determine whether debt should be classified as a current or noncurrent liability…
read more
FASB Proposes ASU on Long-Duration Contracts
Proposal The FASB proposed an ASU on long-duration contracts today. The FASB issues proposed Accounting Standards Update (ASU) that would grant all insurance companies that issue…
read more
GASB Releases Implementation Guide on Accounting for Leases
The Governmental Accounting Standards Board (GASB) has issued Implementation Guide No. 2019-3, Leases. Implementation Guide No. 2019-3 contains questions and answers about GASB Statement No. 87, Leases,…
read more
SEC Proposes to Modernize Disclosures Under Regulation S-K
The SEC proposed amendments to modernize the description of business (Item 101), legal proceedings (Item 103), and risk factor disclosures (Item 105) that registrants are…
read more