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Accounting & Auditing Alert December 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 Change In Effective Date Philosophy And Delay In Effective Dates Of Four ASUs For Certain Entities

The FASB recently approved delays of the effective dates for several of its recent standards that provide at least an additional year to companies that have not yet adopted the standards in ASU 2019-09, Financial Services – Insurance (Topic 944): Effective Date and ASU 2019-10, Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates. The deferral of implementation is a result of outreach with stakeholders and monitoring of implementation.


FASB Issues Improvements to the Accounting for Collaborative Arrangements

The FASB issued ASU 2019-08, Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Codification Improvements—Share-Based Consideration Payable to a Customer.


FASB Proposes Clarifications to Certain Areas of the Derivatives and Hedging Standard

The FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, which makes targeted improvements to the hedge accounting model in order to improve financial reporting of hedging relationships and simplify the application of hedge accounting guidance.


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