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Accounting & Audit Alert April 2015


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

FAF Seeks Comments On PCC

The Board of Trustees of the Financial Accounting Foundation (FAF) is conducting a review of the Private Company Council (PCC) to determine whether, after three years of existence, the PCC is meeting its primary responsibilities and fulfilling its mission.

GASB Issues Fair Value Guidance

The Governmental Accounting Standards Board (GASB) has issued Statement No. 72, Fair Value Measurement and Application, effective for periods beginning after December 15, 2015.

FASB Seeks Input On Disclosures For Certain Hybrid Financial Instruments

The Financial Accounting Standards Board (FASB) has issued an Exposure Draft titled, Derivatives and Hedging (Topic 815): Disclosures about Hybrid Financial Instruments with Bifurcated Embedded Derivatives.  

Expect Further Guidance Related To Revenue Recognition

The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have decided to propose clarifications to the revenue recognition guidance issued in 2014. 


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