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Accounting & Auditing Alert July 2021


 

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


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07/01/2021

FASB Proposes Improvements To Discount Rate Guidance For Lessees


The FASB has issued an Exposure Draft, requesting comment by July 16, 2021, related to Leases (Topic 842): Discount Rate for Lessees That Are Not Public Business Entities to provide private companies, not-for-profit entities and employee benefit plans more flexibility in how the discount rate would be determined.

07/01/2021

GASB Releases Implementation Guide No. 2021-1


The GASB has issued Implementation Guide No. 2021-1, Implementation Guidance Update – 2021. The GASB periodically issues implementation guidance to assist practitioners in implementing GASB Statements and to answer frequently asked questions.

07/01/2021

GASB Releases Exposure Draft On Proposed Improvements For Accounting Changes And Error Corrections


Accounting changes and error corrections are covered in Statement No. 62: Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements. 

 

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