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Accounting & Audit Alert November 2016


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


FASB Proposes Technical Corrections And Improvements To New Revenue Recognition Guidance

The FASB has issued an Exposure Draft titled, Technical Corrections and Improvements to Update No. 2014-09, Revenues from Contracts with Customers (Topic 606), Additional Corrections.


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

The FASB has issued an Exposure Draft titled, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization of Purchased Callable Debt Securities.


FASB Issues Exposure Draft Related To Accounting For Certain Long-Duration Contracts

The FASB has issued an Exposure Draft titled, Financial Services – Insurance (Topic 944) – Targeted Improvements to the Accounting for Long-Duration Contracts.


GASB Proposes Omnibus Statement Addressing A Broad Range Of Practice Issues

The GASB has issued the Exposure Draft, Omnibus 201X, which proposes guidance to address a diverse set of accounting and financial reporting issues identified during implementation and application of certain GASB pronouncements. The requirements of this Exposure Draft would improve consistency in the application of GASB pronouncements.


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