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Accounting & Audit Alert July 2017


 

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


07/01/2017

FASB Clarifies Accounting For Service Concession Arrangements


The FASB has issued ASU 2017-10, Service Concession Arrangements (Topic 853). The purpose of the new standard is to reduce diversity in practice related to how an operating entity determines the customer of the operation services for transactions within Topic 853.

07/01/2017

PCAOB Adopts New Standard To Enhance Auditor’s Report


The PCAOB has adopted a new standard to enhance the relevance and usefulness of the auditor's report by providing additional and important information to investors.

07/01/2017

GASB Issues Guidance For Certain Debt Extinguishment Issues


The GASB has issued Statement No. 86, Certain Debt Extinguishment Issues. The objective of the Statement is to improve consistency in accounting and financial reporting for in-substance defeasance of debt by governments.

 

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