Services Assurance Accounting & Audit Alert December 2020

Accounting & Auditing Alert December 2020

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

12/01/2020

FASB Issues New Guidance On Callable Debt Securities

In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs that is intended to clarify the accounting for certain callable debt securities.

12/01/2020

FASB Proposes Three Targeted Improvements To The Leases Standard

The FASB has issued an Exposure Draft related to Leases (Topic 842) intended to improve three targeted areas of the lease guidance.

12/01/2020

FASB Issues Proposal To Clarify Scope Of Reference Rate Reform Guidance

In March 2020, the FASB issued ASU 2020-04 – Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting.

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

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E-Focus Newsletters

11/17/2021

Focus on Taxation: Bipartisan Infrastructure Bill Brings Employee Retention Credit Change

The bipartisan Infrastructure Investment and Jobs Act (IIJA) containing $550 billion in new funding for the nation’s traditional infrastructure and broadband was signed into law by President Biden on November 15, 2021. The bill doesn’t have nearly the breadth of tax provisions that the “Build Back Better” bill is proposing, but it does contain a few noteworthy changes. Particularly of interest, it ends the Employee Retention Credit (ERC) one quarter early for many employers.

09/14/2021

Focus on Healthcare: Provider Relief Fund Update- 60-Day Reporting Grace Period, New Round of Funding Announced

As previously communicated, healthcare providers who received more than $10,000 of Provider Relief Fund (PRF) payments from the department of Health and Human Services (HHS) on or before June 30, 2020, are required to report on their use of the funds by September 30, 2021.

08/30/2021

Focus on Healthcare: Provider Relief Fund Update- Initial Reporting Deadline Approaching

This is to serve as a reminder and update on previous communications regarding the Provider Relief Fund.

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