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Accounting & Auditing Alert for Sureties March 2020


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


FASB Proposes Amendments To Increase Transparency For Gifts-in-Kind To Not-For-Profit Entities

The FASB has issued an Exposure Draft, Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. The proposed ASU is intended to increase the transparency of contributed nonfinancial assets through enhancements to presentation and disclosure.


FASB Clarifies The Interaction Between The Accounting For Equity Securities, Equity Method Investments, And Certain Derivative Instruments

The FASB has issued ASU 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 to clarify the application of the measurement alternative to measure certain equity securities without a readily determinable fair value at cost, minus impairment plus or minus any observable price changes amended in ASU 2016-01.


FASB Adds SAB Topic On The Accounting For Loan Losses To The Codification

The FASB has issued ASU 2020-02, Financial Instruments—Credit Losses (Topic 326) and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842).


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