Services Assurance Accounting & Audit Alert September 2020

Accounting & Auditing Alert September 2020

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

09/01/2020

FASB Issues New Guidance On Convertible Instruments And Contracts In An Entity’s Own Equity

In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity that is intended to simplify the accounting for certain financial instruments with characteristics of liabilities and equity.

09/01/2020

FASB Proposes Concepts For Defining Elements In A Financial Statement

The FASB has issued an Exposure Draft related to the Conceptual Framework.

09/01/2020

GASB Issues Exposure Draft On Financial Reporting Model Improvements

The GASB has issued an Exposure Draft of a proposed Statement, Financial Reporting Model Improvements.

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

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Events & Seminars

Jan

2021

Single Audit Update - Webinar

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Jan

2021

Not-For-Profit Annual Update - Webinar

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Jan

2021

Public Sector Update - Webinar

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E-Focus Newsletters

01/15/2021

Focus on Taxation: Employee Retention Credit

The recently enacted Consolidated Appropriations Act, 2021 (CAA) has given new life to the Employee Retention Credit (ERC) initially made available by the Coronavirus Aid, Relief, and Economic Stimulus (CARES) Act.

01/12/2021

Focus on Taxation: PPP Reopens for First Draw and Also Provides a Second Draw

Pursuant to recent COVID-19 relief legislation, the SBA announced that the Paycheck Protection Program (PPP) will reopen beginning on Monday, January 11. To give underserved and minority business owners a first chance at the $284B, community financial institutions will be the only lenders able to make First Draw PPP loans on Monday.

01/06/2021

Focus on Public Sector, Not-For-Profit, Colleges and Universities: 2020 OMB Compliance Supplement Addendum Update

On December 22, 2020, the Office of Management and Budget (OMB) released the 2020 OMB Supplement Addendum (Addendum) to address the largest new federal programs established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

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