This week in AccountingLink
If you haven't kept up with your US Week in Review, this is what you missed:
- Comments on embedded credit derivatives
- Definition of a business under Statement 141R
- SEC proposal on the disclosure of credit ratings
- Updated US GAAP and IFRS basics book
- Accounting for tranched preferred stock
- Changing landscape for financial instrument accounting
- Questions on Statement 167 provisions
Read the signals
Understanding the issues facing your company or industry is critical to anticipating and alleviating business risk. To assist you, we offer two Smoke Detector® Reports that can help you quickly identify new legislative, regulatory and legal news affecting your business. One report monitors the life sciences industry and the other focuses on corporate compliance.Using a targeted approach, our team of researchers monitors business and industry developments to compile the most vital information into one easy-to-read report. Each news item is brief, topical, and fully cited so you can spend less time combing through numerous industry publications to find the information that may affect your business. Click here to subscribe.
Implications of the Worker, Homeownership, and Business Assistance Act of 2009
On 6 November 2009, President Obama signed into law the Worker, Homeownership, and Business Assistance Act of 2009 which contains a number of tax law changes, including a provision that extends the carryback period for certain net operating losses. Our Hot Topic (pdf, 183kb) provides an overview of the income tax accounting implications of this legislation.
Modernization of oil and gas reporting
SEC registered oil and gas producing companies are required to adopt the SEC’s rule Modernization of Oil and Gas Reporting for their year-end 2009 reporting. As companies have been evaluating and developing processes necessary to implement the Final Rule, questions have arisen that the SEC staff recognized required additional guidance. Our Hot Topic (pdf, 216kb) discusses revisions made that go beyond mere changes to conform to the Final Rule.
SEC Comments and Trends
In our 2009 edition of SEC Comments and Trends (pdf, 824kb) we continue to provide an overview of some of the issues the SEC staff is focusing on in its recent comments to registrants. In addition, this publication includes a supplement that highlights the SEC staff’s focus in certain industries.
Quarterly summary of current SEC activities
Our latest issue of SEC in Focus (pdf, 522kb) summarizes current activities and regulatory developments at the SEC.
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