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Accounting & Auditing Alert March 2018


 

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


03/01/2018

FASB Simplifies Adoption Of New Leases Standard For Some Land Easements


The FASB has issued ASU 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842, which is intended to clarify the application of the new leases guidance to land easements.

03/01/2018

FASB Issues Improvements To Income Tax Accounting Related To The Tax Cuts And Jobs Act


The FASB has issued ASU 2018-02 to address certain stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act of 2017 (the Act).

03/01/2018

GASB Requests Public Input On Revenue And Expense Recognition


The GASB has released an Invitation to Comment seeking input on the development of a comprehensive revenue and expense recognition model for state and local governments.

 

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