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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.


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.


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).


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.