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    Financial Reporting Developments

    4 May 2017

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

    28 April 2017

    Financial Reporting Developments - Revenue from contracts with customers (ASC 606)
    We have updated our Financial reporting developments publication, Revenue from contracts with customers (ASC 606), primarily to address technical corrections and improvements the FASB made to the standard in Accounting Standards Update (ASU) 2016-20, the November 2016 FASB Transition Resource Group for Revenue Recognition discussions of implementation questions and changes ASU 2017-05 made to the new guidance on the measurement and recognition of gains and losses on the sale of certain nonfinancial assets such as property and equipment, including real estate. We also have expanded our discussions of certain topics. Appendix A of the FRD summarizes significant changes since the previous edition. Updates of many of our industry publications on the new standard will be available soon.

    16 January 2017

    Financial Reporting Developments - Lease accounting - Accounting Standards Codification 842, Leases
    We have issued a new FRD publication on accounting for leases under Accounting Standards Codification 842, Leases. This publication discusses how the new leases standard is applied and is intended to help companies consider the effects of adopting it. The views we express in this publication represent our perspectives as of January 2017, and we expect to update this publication as we develop additional insights.

    5 January 2017

    Financial Reporting Developments - Income taxes
    We have updated our FRD publication primarily in response to recent standard setting that affects the balance sheet presentation of deferred taxes and the tax implications of share-based payment accounting, among other things. Refer to Appendix D of the publication for a summary of the updates.

    20 December 2016

    Financial Reporting Developments - Lease accounting
    We have updated our Financial reporting developments (FRD) publication primarily to reflect amendments to the leases guidance that will be effective when an entity adopts the new revenue recognition standard (ASC 606). The updates highlight the effect the new revenue guidance will have on the accounting for arrangements that contain leases. Refer to Appendix D of the publication for a list of updates. This publication does not address the accounting for leases under the new leases standard, which is codified in ASC 842. That new standard, which will supersede ASC 840, requires lessees to recognize assets and liabilities for most leases but recognize expenses on their income statement in a manner similar to today’s accounting.

    15 December 2016

    Financial Reporting Developments - Statement of cash flows
    We have updated our Financial reporting developments publication on the statement of cash flows to reflect the issuance of ASC 2016-15, Classification of Certain Cash Receipts and Cash Payments, and other recent amendments to ASC 230.

    3 November 2016

    Financial Reporting Developments - Share-based payment
    We have updated our Financial reporting developments publication on share-based payment to reflect the new guidance in ASU 2016-09 and to clarify and enhance our interpretative guidance. Refer to Appendix F of the publication for a summary of the updates.

    10 October 2016

    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.

    29 September 2016

    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 to reflect the issuance of ASU 2016 04, Liabilities - Extinguishments of Liabilities (Subtopic 405 20): Recognition of Breakage for Certain Prepaid Stored-Value Products. We have also enhanced and clarified our interpretive guidance. Refer to Appendix F of the publication for a summary of the updates.

    29 September 2016

    Financial Reporting Developments - Revenue recognition: Multiple element arrangements
    We have updated our Financial reporting developments publication on multiple element arrangements. Refer to Appendix C of the publication for a summary of the updates.

    29 September 2016

    Financial Reporting Developments - Software: Revenue recognition
    We have updated our Financial reporting developments publication on software revenue recognition.

    22 September 2016

    Financial Reporting Developments - Derivatives and hedging
    We have updated our Financial reporting developments publication on derivatives and hedging to reflect the issuance of ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (a consensus of the Emerging Task Force), and ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments. We also have enhanced and clarified our interpretative guidance. Refer to Appendix F of the publication for a summary of the updates.

    15 September 2016

    Financial Reporting Developments - Consolidation: Determination of a controlling financial interest and accounting for changes in ownership interests
    We have issued a new FRD publication on consolidation that includes all of the guidance we previously published in two FRDs, Consolidation and the Variable Interest Model (February 2016) and Consolidated and other financial statements (August 2015). The combined FRD also updates the content for recent standard-setting activities and clarifies and enhances our interpretative guidance. See Appendix I for tables highlighting where you can find material that was previously included in the other FRDs.

    15 September 2016

    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 2015-10, Technical Corrections and Improvements and ASU 2016-01, Financial Instruments – Overall, Recognition and Measurement of Financial Assets and Financial Liabilities. We also enhanced our interpretative guidance. Refer to Appendix F of the publication for a summary of the updates.

    8 September 2016

    Financial Reporting Developments - Exit or disposal cost obligations
    We have updated our Financial reporting developments publication on exit or disposal cost obligations to reflect the changes resulting from the new leases standard issued by the FASB. Refer to Appendix D of the publication for a summary of the updates.

    6 September 2016

    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.

    31 August 2016

    Financial Reporting Developments - Certain investments in debt and equity securities
    We have updated our FRD publication on certain investments in debt and equity securities to further clarify and enhance our interpretative guidance. Refer to Appendix F of the publication for a summary of the updates.

    11 August 2016

    Financial Reporting Developments - Transfers and servicing of financial assets
    We have updated our Financial reporting developments publication on transfers and servicing of financial assets to further clarify and enhance our interpretative guidance. Refer to Appendix F of the publication for a summary of the updates.

    1 August 2016

    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.

    28 July 2016

    Financial Reporting Developments - Equity method investments and joint ventures
    We have issued a FRD publication on equity method investments and joint ventures. This publication combines the guidance from our FRDs Equity method investments (September 2015) and Joint ventures (July 2015). See Appendix F for tables highlighting the combination of these publications.

    13 July 2016

    Financial Reporting Developments - Asset retirement obligations
    We have updated our Financial reporting developments publication on asset retirement obligations to further clarify and enhance our interpretative guidance. Refer to Appendix E of the publication for a summary of the updates.

    13 July 2016

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

    30 June 2016

    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.

    30 June 2016

    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 2016

    Financial Reporting Developments - Foreign currency matters
    Our Financial reporting developments publication on foreign currency matters has been revised primarily to update references to external content and our other publications.

    28 June 2016

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

    6 June 2016

    Financial Reporting Developments - Bankruptcies, liquidations and quasi-reorganizations
    We have updated our Financial reporting developments publication on bankruptcies, liquidations and quasi-reorganizations to clarify and enhance our interpretative guidance. Refer to Appendix A of the publication for a detailed list of these updates.

    2 June 2016

    Financial Reporting Developments - 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.

    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.

    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
    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.