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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.


03/02/2020

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.

03/02/2020

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.

03/02/2020

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.