Accounting & reporting

The latest issues address aerospace and defense, telecommunications, and time-share.

The changes address 13 narrow issues.

Inconsistencies in guidance are addressed.

The board responded to inconsistency in acquisition recording.

FASB proposes the same model for participating and nonparticipating contracts.

The debt proposal would establish a cohesive classification principle.

GAAP doesn’t currently address classification and presentation for restricted cash.

Accounting for share-based payments and certain financial instruments may change.

‘Tier status’ affinity programs are among the issues.

FinREC also identified several concerns.