Certified Public Accountants
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Accounting & Auditing Alert January 2018


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


FASB Codifies Certain SEC Guidance Relating To Revenue Recognition

The FASB has issued ASU 2017-14, Income Statement – Reporting Comprehensive Income (Topic 220), Revenue Recognition (Topic 605), and Revenue from Contracts with Customers (Topic 606) – Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin (SAB) No. 116 and SEC Release No. 33-10403.


FASB Eliminates Topic 995 Related To Steamship Entities

The FASB has issued ASU 2017-15 to supersede Topic 995, U.S. Steamship Entities, because its guidance is no longer relevant.


GASB Issues Exposure Draft On Accounting And Financial Reporting For Majority Equity Interests

The GASB has issued an Exposure Draft entitled Accounting and Financial Reporting for Majority Equity Interests.


GASB Proposes Additional Implementation Guidance

The GASB has issued an Exposure Draft entitled GASB Implementation Guide No. 201Y-X, Implementation Guidance Update – 201Y.


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