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Accounting & Audit Alert May 2017


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

FASB Issues Guidance On Pension And Postretirement Benefit Cost

The FASB has issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715). The purpose of the standard is to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost. The standard applies to all employers, including not-for-profit entities that offer to their employees defined benefit pension plans, other postretirement benefit plans, or other types of benefits accounted for under Topic 715.


FASB Changes Rules For Amortization Of Premium On Purchased Callable Debt Securities

The FASB has issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization of Purchased Callable Debt Securities.


GASB Issues Statement No. 85, Omnibus 2017

The GASB has issued GASB Statement No. 85, Omnibus 2017. The Statement addresses various miscellaneous accounting issues related to blending component units, goodwill, fair value measurement, and postemployment benefits.


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