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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.


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.


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.


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.


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