EITF Update – March 2017
The EITF reached a final consensus on determining the customer of the operation services in a service concession arrangement.
Read MoreThe EITF reached a final consensus on determining the customer of the operation services in a service concession arrangement.
Read MoreIn our comment letter, we supported the FASB’s disclosure framework project and its objective to improve the effectiveness of disclosures in the notes to financial statements by facilitating clear communication of the information required by US GAAP that is most important to users of each entity’s financial statements. However, we asked the FASB to provide more details about the input received from users, particularly users of other than public business entities’ financial statements, and how any expanded disclosures would affect their...
Read MoreSeveral new accounting pronouncements are effective for the first quarter of 2017 for calendar-year entities. We list them along with related EY publications. All entities should carefully evaluate which accounting requirements apply to them for the first...
Read MoreThe FASB issued new guidance that will change how entities account for credit impairment for many financial assets. For receivables and certain other instruments that aren’t measured at fair value, entities will be required to estimate expected credit losses, which generally will result in the earlier recognition of credit losses. For available-for-sale debt securities, they will recognize an allowance for credit losses rather than a reduction to the asset’s carrying...
Read MoreThe EITF reached a final consensus on determining the customer of the operation services in a service concession arrangement.
Read More
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