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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.


01/01/2018

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.

01/01/2018

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.

01/01/2018

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.

01/01/2018

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.