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Accounting & Audit Alert November 2013


 

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


Private Company Council Votes To Finalize Two Private Company Standards


The Private Company Council (PCC) has voted to finalize two alternatives within U.S. Generally Accepted Accounting Principles (GAAP) for private companies related to accounting for interest rate swaps and, separately, accounting for goodwill in a business combination.

The alternatives would permit a private company (i.e., a nonpublic entity) to apply simplified accounting treatments that will reduce cost and complexity in accounting and reporting.

PCAOB Adopts Standards And Amendments For Broker-Dealers


The Public Company Accounting Oversight Board (PCAOB) has adopted attestation standards pertaining to audits of brokers and dealers, an auditing standard for supplemental information accompanying financial statements audited according to PCAOB standards, and related amendments to other PCAOB standards.

EDGAR Filer Manual Updated


The SEC has published a final rule adopting revisions to the Electronic Data Gathering, Analysis, and Retrieval System (EDGAR) Filer Manual to reflect updates to the EDGAR system.

 

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