Search
Certified Public Accountants
& Business Consultants

Accounting & Auditing Alert May 2020


 

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


05/01/2020

FASB Clarifies Accounting For Lease Concessions And Other Effects of COVID-19


The FASB has issued a question-and-answer document in relation to lease guidance applied in Topic 840 and Topic 842 related to lease concessions that are anticipated in many instances related to the effects of the COVID-19 pandemic.

05/01/2020

FASB Issues Accounting Standards Update – Codification Improvements To Financial Instruments


The FASB issued ASU 2020-03 Codification Improvements to Financial Instruments in order to improve guidance and correct unintended application.

05/01/2020

FASB Issues New Guidance On The Effect of Reference Rate Reform


The FASB issued ASU 2020-04. Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Financial Reporting that is intended to ease the potential accounting burden as it relates to reference rate reform.

05/01/2020

GASB Proposes Delayed Effective Dates of Certain Pronouncements


The GASB is proposing the postponement of effective dates of several critical upcoming GASB Statements in an effort to provide much needed relief to state and local governments as a result of the COVID-19 pandemic.

05/01/2020

GASB Issues Statement No. 93 for Transition from LIBOR


The GASB issued Statement No. 93, Replacement of Interbank Offered Rates.

 

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