AccountingLink

    Financial Reporting Developments

    25 May 2016

    Financial Reporting Developments - Intangibles - Goodwill and other
    We have updated our Financial reporting developments publication on goodwill and intangible assets to further clarify and enhance our interpretative guidance. Refer to Appendix D of the publication for a summary of the updates.

    16 May 2016

    Financial Reporting Developments - Segment reporting
    We have updated our Financial reporting developments publication on segment reporting to further clarify and enhance our interpretative guidance. Refer to Appendix D of the publication for a summary of the updates.

    11 February 2016

    Financial Reporting Developments - Consolidation and the Variable Interest Model: Determination of a controlling financial interest (following the adoption of ASU 2015-02, Amendments to the Consolidation Analysis)
    We have updated our Financial reporting developments publication, Consolidation and the Variable Interest Model, to reflect the comments of the SEC staff at the 2015 AICPA National Conference on Current SEC and PCAOB Developments in Washington, DC. Refer to Appendix J of the publication for a detailed list of updates.

    18 November 2015

    Financial Reporting Developments - Certain investments in debt and equity securities
    We have reorganized our FRD publication on certain investments in debt and equity securities to help readers navigate the guidance and have provided new or updated information from prior editions including guidance related to options, warrants and forward contracts to acquire securities. Refer to Appendix E of the publication for a summary of the updates.

    27 October 2015

    Financial Reporting Developments - Discontinued operations (following the adoption of ASU 2014-08)
    We have issued our Financial reporting developments publication on reporting discontinued operations following the adoption of Accounting Standards Update (ASU) 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The ASU changes the definition of a discontinued operation and requires new disclosures of discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. The guidance is effective for calendar year-end companies in 2015, and early adoption is permitted.

    15 October 2015

    Financial Reporting Developments - Business combinations
    We have updated our Financial reporting developments publication on business combinations to reflect the issuance of ASU 2014-18, Business Combinations (Topic 805): Accounting for Identifiable Intangible Assets in a Business Combination (a consensus of the Private Company Council), and ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. We have made other updates to enhance and clarify our interpretative guidance and added Appendix F highlighting considerations for internal control over financial reporting in a business combination. Refer to Appendix I of the publication for a detailed list of updates.

    15 October 2015

    Financial Reporting Developments - Issuer’s accounting for debt and equity financings
    We have updated our FRD publication on an issuer’s accounting for debt and equity financings primarily to reflect the issuance of ASU 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity, and ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. It also reflects SEC staff guidance that clarifies the application of ASU 2015-03. We have also enhanced and clarified our interpretative guidance. Refer to Appendix F of the publication for a summary of the updates.

    7 October 2015

    Financial Reporting Developments - Income taxes
    We have updated our FRD publication on income taxes to provide additional guidance related to indefinite reinvestment assertions, disposal of tax-deductible goodwill, income tax allocation methods in the separate financial statements of subsidiaries and other topics. Refer to Appendix D of the publication for a detailed list of updates.

    1 October 2015

    Financial Reporting Developments - Derivatives and hedging
    We have updated our Financial reporting developments publication on derivatives and hedging primarily to reflect the issuance of ASU2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity, and 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. We have also enhanced and clarified our interpretative guidance. Refer to Appendix F of the publication for a summary of the updates.

    29 September 2015

    Financial Reporting Developments - Equity method investments
    We have updated our FRD publication on equity method investments to clarify and enhance our interpretative guidance. Refer to Appendix F of the publication for a detailed list of these updates.

    23 September 2015

    Financial Reporting Developments - Bankruptcies, liquidations and quasi-reorganizations
    We have updated our FRD publication on bankruptcy, liquidation and quasi-reorganizations to include interpretative guidance on issues faced by entities during and upon emergence from Chapter 11 bankruptcy. Refer to Appendix B of the publication for a detailed listing of these updates.

    3 September 2015

    Financial Reporting Developments - Revenue from contracts with customers (ASC 606)
    We have issued a Financial Reporting Developments publication on the new revenue recognition guidance. We initially issued this publication as a Technical Line in June 2014 soon after the FASB and the IASB issued their converged standards. Since that time, the Boards have proposed various amendments to their respective standards and may propose others. In this publication, we highlight the amendments the Boards have proposed and clarify and enhance our guidance on the new standard.

    17 August 2015

    Financial Reporting Developments - Impairment or disposal of long-lived assets
    We have updated our Financial Reporting Developments publication on impairment or disposal of long-lived assets to provide additional interpretive guidance.

    14 August 2015

    Financial Reporting Developments - Lease accounting
    We have updated our FRD publication on lease accounting to provide additional considerations for evaluating service concession arrangements in accordance with ASU 2014-05, Service Concession Arrangements, which was codified in ASC 853, Service Concession Arrangements. These arrangements are not within the scope of ASC 840, Leases. We have also updated our FRD to reflect ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software, which eliminates the requirement in ASC 350-40 that customers analogize to ASC 840 to determine the accounting for a software licensing arrangement. Refer to Appendix D of the publication for a detailed list of updates.

    13 August 2015

    Financial Reporting Developments - Foreign currency matters
    We have updated our FRD publication on foreign currency matters to clarify and enhance our interpretative guidance. Refer to Appendix B of the publication for additional information regarding these updates.

    4 August 2015

    Financial Reporting Developments - Consolidated and other financial statements: Presentation and accounting for changes in ownership interests
    We have updated our Financial reporting developments publication on consolidated and other financial statements to further clarify and enhance our interpretative guidance. Refer to Appendix A of the publication for a summary of the updates.

    28 July 2015

    Financial Reporting Developments - Statement of cash flows
    We have updated our Financial Reporting Developments publication on statement of cash flows to provide additional interpretive guidance.

    24 July 2015

    Financial Reporting Developments - Asset retirement obligations
    We have updated our Financial Reporting Developments publication on asset retirement obligations to reflect our current understanding of this guidance.

    24 July 2015

    Financial Reporting Developments - Earnings per share
    We have updated our Financial reporting developments publication on earnings per share to reflect new guidance on master limited partnership dropdown transactions and updates to existing guidance on common practice issues. Refer to Appendix D of the publication for a list of the updates.

    24 July 2015

    Financial Reporting Developments - Joint ventures
    We have updated our FRD publication on joint ventures to clarify and enhance our interpretative guidance. Refer to Appendix E of the publication for a detailed list of these updates.

    22 July 2015

    Financial Reporting Developments - Share-based payments
    We have updated our FRD publication on share-based payment to enhance our interpretive guidance. Refer to Appendix F of the publication for a list of these updates.

    16 July 2015

    Financial Reporting Developments - Fair value measurement
    We have updated our Financial reporting developments publication on fair value measurement primarily to reflect the issuance of ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). We also enhanced our interpretative guidance. Refer to Appendix F of the publication for a summary of the updates.

    15 July 2015

    Financial Reporting Developments - Transfers and servicing of financial assets
    We have updated our Financial reporting developments publication on transfers and servicing of financial assets primarily to reflect the amendments resulting from the issuance of ASU 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings and Disclosures and for further clarification and enhancements to our interpretative guidance. Refer to Appendix F of the publication for a summary of the updates.

    24 June 2015

    Financial Reporting Developments - Real estate project costs
    We have updated our Financial Reporting Developments publication on real estate costs to clarify and enhance our interpretative guidance.

    24 June 2015

    Financial Reporting Developments - Real estate sales
    We have updated our Financial Reporting Developments publication on real estate sales to clarify and enhance our interpretative guidance.

    16 June 2015

    Financial Reporting Developments - Software: Revenue recognition
    We have updated our Financial Reporting Developments publication on software revenue recognitionto to further clarify and enhance our interpretive guidance.

    15 June 2015

    Financial Reporting Developments - Revenue recognition: Multiple element arrangements
    We have updated our Financial Reporting Developments publication on multiple-element arrangements to reflect our current understanding of this guidance.

    15 May 2015

    Financial Reporting Developments - Accounting changes and error corrections
    We are issuing our Financial Reporting Developments publication on accounting changes and error corrections. This publication is designed to assist professionals in understanding the financial reporting issues associated with accounting changes (including changes in accounting principle, changes in estimates and changes in reporting entity) and error corrections.

    27 February 2015

    Financial Reporting Developments - Exit or disposal cost obligations
    We have updated our Financial Reporting Developments publication on exit or disposal cost obligations to provide additional interpretive guidance.

    12 November 2014

    Financial Reporting Developments - Discontinued operations
    We have updated our Financial Reporting Developments publication on discontinued operations for further clarification and enhancements to our interpretative guidance.

    15 September 2014

    Financial Reporting Developments - Consolidation and the Variable Interest Model: Determination of a controlling financial interest (prior to the adoption of ASU 2015-02, Amendments to the Consolidation Analysis)
    We have updated our Financial reporting developments publication, Consolidation and the Variable Interest Model, for recent standard-setting activities and provided further clarifications and enhancements to our interpretative guidance. Refer to Appendix I of the publication for a list of these updates.

    12 November 2012

    Financial Reporting Developments - Accounting for reinsurance
    We have updated our Financial Reporting Development, Accounting for Reinsurance, which was first published in December 1993. The updates include changes to the deposit accounting and long duration chapters, along with references to the FASB Accounting Standards Codification.

    17 May 2012

    Financial Reporting Developments - Insurance contract modifications or exchanges
    We have updated our FRD on the accounting for deferred acquisition costs in connection with modifications or exchanges of insurance contracts. Most of the changes reflect the adoption of the Accounting Standards Codification.