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    Industry issues

    Financial Services
    Life Sciences
    Oil & Gas
    Real Estate
    Retail
    Technology
    Telecommunications
    Other industries

    Financial Services

    29 June 2017

    Technical Line - How the new revenue standard affects asset managers
    Our Technical Line highlights key implications of the new revenue standard for asset managers. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    29 June 2017

    Technical Line - How the new revenue standard affects banks
    Our Technical Line highlights key implications of the new revenue standard for banks. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    29 June 2017

    Technical Line - How the new revenue standard affects brokers and dealers in securities
    Our Technical Line highlights key implications of the new revenue standard for brokers and dealers in securities. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    9 February 2017

    Technical Line - Insurers will have to make additional disclosures about short-duration contracts
    We have updated our Technical Line to include the SEC staff’s views on the presentation of acquisitions, disposals and foreign currency exchange translation adjustments in the incurred and paid claims development tables required by the guidance. All insurers, not just SEC registrants, should consider those views.

    1 November 2016

    Technical Line - A closer look at proposed changes in insurers’ accounting and disclosures for long-duration contracts
    The FASB proposed changing how insurers account for and make disclosures about long-duration contracts to provide users of the financial statements with more meaningful information about the amount, timing and uncertainty of cash flows related to these contracts. The proposal would change how insurers recognize and measure insurance liabilities and deferred acquisitions costs and require them to make new disclosures. The proposal would significantly change practice and could have a material effect on insurers’ financial statements. Comments are due by 15 December 2016.

    29 September 2016

    To the Point - Proposal would change accounting and disclosures for long-duration contracts for insurers
    The FASB proposed changing how insurers account for long-duration contracts, including how they measure, recognize and make disclosures about insurance liabilities and deferred acquisition costs. Comments are due by 15 December 2016.

    14 April 2016

    Technical Line - How the FASB’s new leases standard will affect financial services entities
    The FASB’s new leases standard significantly changes the accounting for leases and could have far-reaching implications for many entities. Our Technical Line discusses key implications for financial services entities.

    12 November 2012

    Financial Reporting Developments - Accounting for reinsurance
    This FRD can be found in our Global Accounting and Auditing Information Tool (GAAIT). GAAIT is a single, global online resource for accounting and auditing standards and EY interpretive guidance. Complete this form for an individual password into GAAIT, then choose a 30-day free trial or a 1-year subscription.

    17 May 2012

    Financial Reporting Developments - Insurance contract modifications or exchanges
    This FRD can be found in our Global Accounting and Auditing Information Tool (GAAIT). GAAIT is a single, global online resource for accounting and auditing standards and EY interpretive guidance. Complete this form for an individual password into GAAIT, then choose a 30-day free trial or a 1-year subscription.

    Life Sciences

    3 August 2017

    Technical Line - How the new revenue standard affects life sciences entities
    Our Technical Line highlights key implications of the new revenue standard for life sciences entities. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    25 January 2017

    Technical Line - How changes to the definition of a business will affect life sciences entities
    This publication focuses on how life sciences entities will be affected by the final guidance issued by the FASB that narrows the definition of a business.

    22 December 2016

    SEC Comments and Trends – December 2016 – Life sciences industry supplement
    This publication is intended to give you insights into the SEC staff’s areas of focus involving life sciences registrants. It should be read in conjunction with our 2016 SEC Comments and Trends publication and our Technical Line, 2016 trends in SEC comment letters publication, which both discuss matters that relate to all registrants.

    4 February 2016

    To the Point - Centers for Medicare & Medicaid Services issue rule that may affect entities’ drug rebate estimates
    The Centers for Medicare & Medicaid Services released the covered outpatient drugs final rule that clarifies the Medicaid reimbursement and drug rebate program provisions of the Patient Protection and Affordable Care Act. Life sciences entities need to evaluate the effect of the rule on their financial statements and disclosures, including their 2015 financial statements and disclosures (e.g., Medicaid rebate estimates for inventory in the distribution channel) if they haven’t yet issued their financial statements or made them available to be issued. The rule is effective 1 April 2016. The definition of a line extension drug remains open for comment.

    10 December 2015

    SEC Comments and Trends - December 2015 - Life sciences industry supplement
    Our life sciences supplement to our SEC Comments and Trends publication is intended to give you insights into the SEC staff’s areas of focus involving life sciences companies. This publication is based on our review of approximately 90 public comment letters issued to more than 70 life sciences registrants between June 2014 and November 2015. It should be read in conjunction with our September 2015 SEC Comments and Trends publication, which discusses matters that relate to all registrants.

    12 January 2012

    Technical Line - Aggregating milestone method disclosures may sometimes be appropriate
    Many life sciences companies adopted Accounting Standards Update 2010-17, Milestone Method of Revenue Recognition, for the first time in their 2011 financial statements. The standard requires disclosures at the individual milestone level. While we believe entities should provide these disclosures for each material milestone, it may be appropriate for life sciences entities to aggregate disclosures for immaterial milestones. Our Technical Line publication provides questions to consider when assessing the materiality of milestones for disclosure.

    Oil & Gas

    29 June 2017

    Technical Line - How the new revenue recognition standard affects upstream oil and gas entities
    Our Technical Line highlights key implications of the new revenue standard for upstream oil and gas entities. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    29 June 2017

    Technical Line - How the new revenue standard affects downstream oil and gas entities
    Our Technical Line highlights key implications of the new revenue standard for downstream oil and gas entities. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    19 May 2016

    Technical Line - How the FASB’s new leases standard will affect oil and gas entities
    The FASB’s new leases standard significantly changes the accounting for leases and could have far-reaching implications for many entities. Our Technical Line discusses key implications for oil and gas entities.

    16 December 2015

    To the Point - SEC proposes a new rule about payments to governments for extractive activities
    The SEC proposed rules that would require resource extraction issuers to disclose payments they made to foreign governments or the US Federal Government related to the commercial development of oil, natural gas or minerals in an annual Form SD filed with the SEC.

    14 December 2015

    Technical Line - FASB proposes changes to the definition of a business - oil and gas
    This publication focuses on how oil and gas entities would be affected by the FASB’s proposal to change the definition of a business.

    5 November 2015

    Technical Line - Accounting risks related to the decline in oil prices
    The continued decline in worldwide crude oil prices and the prices of related refined products over the past year may create a number of accounting risks for oil and gas entities. In addition, it can have an indirect effect on their suppliers, customers, lenders, joint interest partners and others that directly or indirectly rely on or do business with the oil and gas industry. This publication discusses accounting and financial reporting issues that entities in the industry and those that depend on them may need to consider.

    Real Estate

    27 October 2017

    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.

    23 October 2017

    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.

    29 June 2017

    Technical Line - How the new revenue standard affects operating real estate entities
    Our Technical Line highlights key implications of the new revenue standard for operating real estate entities. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    25 January 2017

    Technical Line - How changes to the definition of a business will affect real estate entities
    This publication focuses on how real estate entities will be affected by the final guidance issued by the FASB that narrows the definition of a business.

    7 September 2016

    Technical Line - How the new revenue recognition standard will affect homebuilders
    This Technical Line highlights key aspects of applying the FASB’s standard to homebuilding arrangements, addresses significant changes to current practice and reflects the latest implementation insights for homebuilders. It supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    14 April 2016

    Technical Line - How the FASB’s new leases standard will affect real estate entities
    The FASB’s new leases standard significantly changes the accounting for leases and could have far-reaching implications for many entities. Our Technical Line discusses key implications for real estate entities.

    12 April 2016

    Technical Line - The effects of the new consolidation guidance on real estate entities
    Our publication takes a closer look at how real estate entities are affected by ASU 2015-02, Amendments to the Consolidation Analysis, which changed both the variable interest model and the voting model. These changes mean that all real estate entities have to re-evaluate entities for consolidation and revise their documentation. Consolidation conclusions may change in some cases, while in other instances, additional disclosures must be provided about entities that are considered variable interest entities under the new guidance.

    Retail

    9 May 2017

    Technical Line - How the new revenue standard affects retail and consumer products entities
    Our Technical Line highlights key implications of the new revenue standard for retail and consumer products entities. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    14 April 2016

    Technical Line - How the FASB’s new leases standard will affect retail and consumer products entities
    The FASB’s new leases standard significantly changes the accounting for leases and could have far-reaching implications for many entities. Our Technical Line discusses key implications for retail and consumer products entities.

    Technology

    20 July 2017

    Technical Line - How the new revenue standard affects technology entities
    Our Technical Line highlights key implications of the new revenue standard for technology entities. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    9 June 2016

    Technical Line - Accounting for cloud computing arrangements as software licenses or service contracts
    New US GAAP guidance on how customers in cloud computing arrangements determine whether the arrangement includes a software license went into effect for all calendar-year entities at the beginning of this year. Our publication discusses the new guidance, along with whether customers in cloud computing arrangements that do not include software licenses should capitalize or expense implementation and other up-front costs that relate to such arrangements.

    Telecommunications

    22 June 2017

    Technical Line - How the new revenue standard affects telecommunications entities
    Our Technical Line highlights key implications of the new revenue standard for telecom entities. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    14 April 2016

    Technical Line - How the FASB’s new leases standard will affect telecommunications and cable entities
    The FASB’s new leases standard significantly changes the accounting for leases and could have far-reaching implications for many entities. Our Technical Line discusses key implications for telecommunications and cable entities.

    Other industries

    25 August 2017

    Technical Line - How the new revenue standard affects engineering and construction entities
    Our Technical Line highlights key implications of the new revenue standard for engineering and construction entities. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    27 July 2017

    Technical Line - How the new revenue recognition standard affects automotive OEMs
    Our Technical Line highlights key implications of the new revenue standard for automotive OEMs. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    30 June 2017

    Technical Line - How the new revenue standard affects airlines
    Our Technical Line highlights key implications of the new revenue standard for airlines. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    29 June 2017

    Technical Line - How the new revenue standard affects banks
    Our Technical Line highlights key implications of the new revenue standard for banks. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    23 February 2017

    Technical Line - How the new revenue standard will affect media and entertainment entities
    This Technical Line highlights how practice will change for media and entertainment entities under the new revenue standard issued by the FASB and the IASB. It addresses the amendments the FASB has made and the discussions of members of the Transition Resource Group for Revenue Recognition on topics of interest to media and entertainment entities. This publication supplements our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.

    25 January 2017

    Accounting for digitally distributed cost content – Media & Entertainment
    Digital is transforming every facet of business for media and entertainment (M&E) companies. The rise of social media, widespread broadband availability, faster internet connections and the popularity of smartphones and tablets have changed the demands and expectations of media audiences and created an astounding variety of new digital products and services. As traditional distribution mediums continue to evolve, questions have arisen as to how digital download and streaming service providers should account for the licensing and production of movies and television shows. This publication describes considerations under US GAAP for how entities should apply the M&E industry-specific accounting guidance that has historically been applied by traditional broadcasters and producers of films or television shows to digitally distributed content.

    22 December 2016

    SEC Comments and Trends – December 2016 – Media and entertainment industry supplement
    This publication is intended to give you insights into the SEC staff’s areas of focus involving media and entertainment registrants. It should be read in conjunction with our 2016 SEC Comments and Trends publication and our Technical Line, 2016 trends in SEC comment letters publication, which both discuss matters that relate to all registrants.

    19 May 2016

    Technical Line - How the FASB’s new leases standard will affect power and utilities entities
    The FASB’s new leases standard significantly changes the accounting for leases and could have far-reaching implications for many entities. Our Technical Line discusses key implications for power and utilities entities.

    14 April 2016

    Technical Line - How the FASB’s new leases standard will affect airline entities
    The FASB’s new leases standard significantly changes the accounting for leases and could have far-reaching implications for many entities. Our Technical Line discusses key implications for airline entities.

    14 April 2016

    Technical Line - How the FASB’s new leases standard will affect automotive entities
    The FASB’s new leases standard significantly changes the accounting for leases and could have far-reaching implications for many entities. Our Technical Line discusses key implications for automotive entities.

    14 April 2016

    Technical Line - How the FASB’s new leases standard will affect engineering and construction entities
    The FASB’s new leases standard significantly changes the accounting for leases and could have far-reaching implications for many entities. Our Technical Line discusses key implications for engineering and construction entities.

    14 April 2016

    Technical Line - How the FASB’s new leases standard will affect health care entities
    The FASB’s new leases standard significantly changes the accounting for leases and could have far-reaching implications for many entities. Our Technical Line discusses key implications for health care entities.

    14 April 2016

    Technical Line - How the FASB’s new leases standard will affect mining and metals entities
    The FASB’s new leases standard significantly changes the accounting for leases and could have far-reaching implications for many entities. Our Technical Line discusses key implications for mining and metals entities.

    28 January 2016

    To the Point - New guidance on classifying and measuring financial instruments - health care not-for-profit entities
    The FASB issued final guidance that will change how entities, including business-oriented health care not-for-profit (NFP) entities, measure equity investments that do not result in consolidation and are not accounted for under the equity method and how they present changes in the fair value of financial liabilities measured under the fair value option that are attributable to their own credit. The new guidance also changes certain disclosure requirements and other aspects of current US GAAP. It does not change the guidance for classifying and measuring investments in debt securities. Health care NFPs can early adopt certain provisions in financial statements that have not yet been issued or made available to be issued.