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Accounting & Audit Alert April 2017


 

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


04/01/2017

FASB Issues Guidance On Derecognition Of Nonfinancial Assets


The FASB recently issued ASU 2017-05, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20). The ASU is intended to clarify the appropriate application of the standards regarding asset derecognition and to provide guidance regarding partial sales of nonfinancial assets.

04/01/2017

FASB Improves Employee Benefit Plan Master Trust Reporting


The FASB has issued ASU 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960); Defined Contribution Pension Plans (Topic 962); Health and Welfare Benefit Plans (Topic 965): Employee Benefit Plan Master Trust Reporting to improve the usefulness of the information reported to users of employee benefit plan financial statements and to provide clarity to preparers and auditors.

04/01/2017

FASB Proposes Simplifications To Accounting For Nonemployee Share-Based Payments


The FASB has issued an Exposure Draft intended to reduce cost and complexity and to improve financial reporting for nonemployee share-based payments. The proposal was issued as part of the FASB’s Simplification Initiative.

 

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