Certified Public Accountants
& Business Consultants

Accounting & Auditing Alert for Sureties February 2021


RubinBrown's Accounting & Auditing Alert is published monthly to inform our clients and contacts about relevant technical accounting and audit-related information.


FASB Clarifies Scope Of Recent Reference Rate Reform Guidance

The 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.


FASB Issues Proposed Improvement To Accounting For Acquired Revenue Contracts With Customers In A Business Combination

The 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.


FASB Proposes Alternative To Goodwill Triggering Event Assessment For Certain Companies And Organizations

The FASB has issued an Exposure Draft related to potential changes to the evaluation of goodwill impairment.


Readers should not act upon information presented without individual professional consultation.