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Accounting & Audit Alert September 2015


 

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


FASB Defers Implementation Of New Revenue Recognition Standard


The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. 

FASB Issues Inventory Guidance


The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory regarding the subsequent measurement of inventory as part of its Simplification Initiative. 

FASB Simplifies Plan Accounting


The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), and Health and Welfare Benefit Plans (Topic 965) - I. Fully Benefit-Responsive Investment Contracts; II. Plan Investment Disclosures, and III. Measurement Date Practical Expedient.

FASB Issues Accounting Guidance For Certain Electricity Contracts


The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) 2015-13, Derivatives and Hedging (Topic 815):  Application of the Normal Purchases and Normal Sales Scope Exception to Certain Electricity Contracts within Nodal Energy Markets. 

FASB Issues Proposal To Clarify The Assessment Of Contingent Call (Put) Options


The Financial Accounting Standards Board (FASB) has issued an Exposure Draft, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments for public comment.   Comments on the proposal are due by October 5, 2015.

FASB Issues Exposure Draft Related To Novations On Existing Hedge Accounting Relationships


The Financial Accounting Standards Board (FASB) has issued an Exposure Draft, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.

 

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