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Accounting & Audit Alert September 2014


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

FASB Proposes Elimination Of Extraordinary Items

The Financial Accounting Standards Board (FASB) has released an Exposure Draft titled Income Statement—Extraordinary and Unusual Items: Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items

FASB Proposing To Simplify Measurement Of Inventory

The Financial Accounting Standards Board (FASB) has issued an Exposure Draft titled, Inventory: Simplifying the Measurement of Inventory.

FASB Issues Accounting Standards Update Related To Troubled Debt Restructurings

The Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update (ASU) 2014-14, Receivables – Troubled Debt Restructurings by Creditors: Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure.

FASB Issues Guidance For Consolidating A Collateralized Financing Entity

The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity.


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