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November 1, 2018

Tips for NFP internal reports

When preparing internal financial reports, not-for-profits need to provide the board with the proper information to perform its oversight duties.

November 1, 2018

FASB takes big steps on disclosure effectiveness

The board also addressed concerns about its standard on credit losses.

October 31, 2018

FASB expands private company consolidation relief

FASB expanded an accounting alternative for private companies and changed the rules for all entities for deciding whether a decision-making fee is a variable interest.

October 31, 2018

IASB clarifies definition of ‘material’

The IASB revised its definition of “material” in an effort to make it easier for companies to decide which information is important enough to include in their financial statements.

October 30, 2018

FinREC issues working draft on credit loss issue

The AICPA Financial Reporting Executive Committee (FinREC) issued a working draft of an accounting issue related to the implementation of FASB’s new standard on accounting for credit losses.

October 25, 2018

FASB permits new benchmark rate for hedge accounting

FASB expanded the list of benchmark interest rates that are permissible in the application of hedge accounting.

October 16, 2018

FASAB proposal seeks clearer materiality guidance

The Federal Accounting Standards Advisory Board (FASAB) is asking for public comment on a proposal to clarify the implementation of materiality concepts in the issuance of federal financial statements.

October 1, 2018

FinREC issues working drafts on credit loss accounting issues

A new guide focuses on lenders and insurance companies.

October 1, 2018

Lease accounting rules get additional tweaks

FASB issued minor amendments, targeted changes, and a proposal addressing lessors’ implementation challenges.

October 1, 2018

FASB changes insurance accounting

A new standard creates targeted changes for long-duration contracts.

September 28, 2018

GASB proposes targeted improvements, new concepts

GASB issued separate proposals that are designed to deliver targeted improvements to the financial reporting model and advance new concepts to guide the board in developing standards on recognition in state and local government financial statements.

September 20, 2018

SEC proposes clarifying broker-dealer exemption

The Securities and Exchange Commission proposed an amendment that would correct an error published in 2013 in the exemption provisions in the broker-dealer annual reporting rule.

September 11, 2018

FinREC issues working draft on multiemployer benefit plans

The AICPA Financial Reporting Executive Committee (FinREC) issued a working draft of a proposed chapter on multiemployer benefit plans and illustrative financial statements, which will be added to the AICPA Audit and Accounting Guide Employee Benefit Plans.

September 4, 2018