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Accounting & Auditing Alert April 2019


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


FASB Issues Narrow-Scope Improvements To Financial Instruments Standard

The FASB has issued ASU 2019-04 – Codification Improvements to Topic 326, Financial Instruments – Credit Losses; Topic 815, Derivatives and Hedging; and Topic 825, Financial Instruments. The ASU was issued to make clarifications and minor corrections to several recently issued financial instruments standards.


FASB Clarifies Implementation Guidance And Disclosure Requirements In Leases Standard

The FASB recently released its first Accounting Standards Update of 2019, ASU 2019-01 Leases (Topic 842) Codification Improvements. This ASU was released with the intent of clarifying conflicting or unclear guidance within the new leases standard that will be implemented under ASU 2016-02, Leases (Topic 842). 

FASB Issues Guidance For Episodic Television Series

The FASB has issued ASU 2019-02, Entertainment—Films—Other Assets—Film Costs (Subtopic 926-20) and Entertainment—Broadcasters—Intangibles—Goodwill and Other (Subtopic 920-350): Improvements to Accounting for Costs of Films and License Agreements for Program Materials. 


FASB Proposes Guidance On Measurement Of Share-Based Payments Issued To Customers

The FASB has issued an Exposure Draft for public comment that is intended to address potential diversity in practice related to the measurement of share-based payments awarded to customers in conjunction with the sale of goods and services. 


GASB Issues Proposed Implementation Guide On Leases

The GASB issued GASB No. 87 Leases in June 2017 to amend the guidance regarding the accounting and reporting related to leases. As is customary for new standards, the GASB provides additional guidance through implementation guides. 


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