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Accounting & Audit Alert December 2013


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

FASB Votes To Move Forward With Final Standard On Revenue Recognition

The FASB has voted to move forward with preparing a final standard on revenue recognition. The final standard is expected to be issued during the first quarter of 2014.

FASB Issues Proposed ASU Related To Hybrid Financial Instruments

The FASB has issued a proposed ASU titled Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity.

FASB Issues Proposed Accounting Standards Update Related To Development Stage Entities

The Financial Accounting Standards Board (FASB) has issued for public comment an Exposure Draft that addresses private company stakeholder concerns raised about the relevance and complexity of aspects of U.S. generally accepted accounting principles (GAAP) related to development stage entities.

As reported in the October 2013 Accounting & Auditing Alert, this Private Company Council (PCC) proposal had been previously endorsed by the FASB.

FASB Issues Proposed ASU Related To Stock Compensation

The FASB has issued a proposed ASU related to share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period.

Accounting And Review Services Committee Publishes Exposure Draft

The Accounting and Review Services Committee (ARSC) of the AICPA has released an Exposure Draft which contains changes in requirements when an accountant is engaged to prepare financial statements, as well as a repositioning of the compilation service which differs from current standards.


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