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…
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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,…
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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…
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FASB Proposes to Improve Guidance on Distinguishing Liabilities from Equity
The FASB has issued an exposure draft proposing to improve guidance on distinguishing liabilities from equity, including convertible instruments. Stakeholders are asked to review and provide…
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New SEC Commissioner Sworn In
Allison Herren Lee was sworn into office on July 8, 2019 as an SEC Commissioner. Lee was nominated to the SEC by President Donald J.…
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FASB Invitation to Comment Issued
The FASB issues Invitation to Comment (ITC) seeking stakeholder input on the accounting for certain identifiable intangible assets. This includes those acquired in a business combination…
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GASB Proposes Guidance on Deferred Compensation Plans
The Governmental Accounting Standards Board (GASB) has issued the Exposure Draft, Internal Revenue Code Section 457 Deferred Compensation Plans That Meet the Definition of a…
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The FASB Proposes Amendments to CECL
The FASB issued a proposed Accounting Standards Update (ASU) that proposes narrow-scope amendments to CECL. Specifically, it addresses items raised by stakeholders in implementing ASU No.…
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SEC Adopts Amendments to Auditor Independence Rules
The SEC has adopted a final rule, Auditor Independence With Respect to Certain Loans or Debtor-Creditor Relationships. This rule includes amendments to the SEC’s auditor…
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SEC Commissioner Peirce Discusses SEC Proposal to Change SOX 404(b)
SEC Commissioner Hester M. Peirce recently discussed SEC rulemaking and its current agenda. As part of her remarks, Peirce discussed the SEC’s recent proposal to…
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