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Accounting & Audit Alert August 2015


 

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


FASB Approves Deferral Of New Revenue Recognition Standard


In April 2015, the Financial Accounting Standards Board (FASB) issued for public comment a proposed Accounting Standards Update (ASU), Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. 

FASB Issues Technical Corrections And Improvements ASU


The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) 2015-10, Technical Corrections and Improvements, to correct differences between original guidance and the Accounting Standards Codification, provide guidance clarification and reference corrections, and make minor improvements affecting a variety of topics.

GASB Simplifies GAAP Hierarchy For State And Local Governments


The Governmental Accounting Standards Board (GASB) has issued Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments.

GASB Releases Exposure Draft On Accounting For Irrevocable Split-Interest Agreements


The Governmental Accounting Standards Board (GASB) has issued an exposure draft that provides guidance for irrevocable split-interest agreements. 

GASB Proposes Guidance For Certain External Investment Pools


The Governmental Accounting Standards Board (GASB) has issued an exposure draft, Accounting and Financial Reporting for Certain External Investment Pools.

GASB Issues Exposure Draft Related To Certain Component Units


The Governmental Accounting Standards Board (GASB) has issued an exposure draft titled, Blending Requirements for Certain Component Units.

 

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