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Accounting & Auditing Alert October 2018


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


FASB Issues Changes To Disclosure Requirements For Fair Value Measurements

The FASB has issued ASU 2018-13 – Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This ASU was issued as part of the FASB’s ongoing disclosure framework project that seeks to improve the effectiveness of disclosures in the notes to financial statements.


FASB Amends Disclosure Requirements Related To Defined Benefit Plans

The FASB has issued ASU 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans.

FASB Issues Improvements To Accounting For Costs Of Implementation Activities Performed In Certain Cloud Computing Arrangements

The FASB has issued ASU 2018-15 (amendment to Subtopic 350-40) titled Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.


FASB Improves Guidance For Insurance Companies That Issue Long-Duration Contracts

The FASB has issued ASU 2018-12 that improves financial reporting for insurance companies that issue long-duration contracts, such as life insurance, disability income, long-term care, and annuities. The changes do not apply to policy holders.


GASB Issues Conduit Debt Obligation Exposure Draft

The GASB has been working on a project for the past year and recently published an Exposure Draft of the proposed statement. The Exposure Draft proposes a single method of reporting conduit debt obligations, which would replace the previous optional methods. The Exposure Draft also would provide some additional clarity on what constitutes a conduit debt obligation.


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