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Accounting & Audit Alert June 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 Modifications Of Stock Compensation

This ASU changes the guidance for determining which modifications to the terms of an existing stock compensation award require the application of modification accounting in Topic 718. The purpose of this ASU is to reduce diversity in practice and the cost and complexity associated with share-based payment awards.


GASB Issues Implementation Guidance For Various Topics

The GASB has issued Implementation Guide 2017-1, Implementation Guidance Update – 2017 which is designed to provide guidance that clarifies, explains, or elaborates on existing GASB Statements. Based on GASB Statement 76, Implementation Guides are considered Category B in the hierarchy of U.S. generally accepted accounting principles.


GASB Issues OPEB Implementation Guidance

The GASB has issued Implementation Guide 2017-2, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans. This implementation guide constitutes Category B authoritative guidance under GAAP.


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