Services Assurance Accounting & Audit Alert November 2020

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.

11/02/2020

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.

11/02/2020

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.}

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E-Focus Newsletters

02/15/2021

Focus on Accounting Standards: FASB Votes To Issue An Accounting Alternative Related To Goodwill And The Evaluation Of Triggering Events

As reported in the tentative decisions from its February 10, 2021 meeting, the FASB recently voted to provide private companies and not-for-profit entities with the option to perform the identification and evaluation of a triggering event for goodwill impairment at the reporting date.

02/01/2021

Focus on Cyber Security: SolarWinds Cyber Attack

The recent intrusion of high profile government systems via the SolarWinds Orion vulnerability has gained quite a bit of media attention and is likely to dominate the cyber security news cycle for the foreseeable future.

01/20/2021

Focus on Taxation: New Grant Program for Shuttered Venue Operators

Live venue operators impacted by the pandemic may find significant help in the form of a new grant made available by the December COVID-19 stimulus package.

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