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Accounting & Auditing Alert November 2020


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

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FASB Issues Proposal To Simplify How Private Company Franchisors Evaluate Certain Performance Obligations

In September 2020, the FASB issued an Exposure Draft for public comment that is intended to ease the potential accounting burden on private company franchisors.


FASB Issues Guidance On Presentation and Disclosures By Not-for-Profit Entities For Contributed Nonfinancial Assets

The FASB has recently issued ASU 2020-07, Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. Prior to ASU 2020-07, there were no specific disclosure requirements for contributed nonfinancial assets other than for contributed services.


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