Month: May 2017

Comment Letter – SEC’s Inline XBRL proposal

Go to Source Author: In our comment letter, we supported the objective of requiring structured data and data tagging to improve disclosure analysis and help investors and other market participants make more-informed decisions. However, we expressed concerns about requiring the use of Inline XBRL and suggested other actions that could be taken to improve the quality and reliability of financial statement data tagging. We noted that embedding tags in the financial statements could lead investors to assume such tags have been audited or reviewed and suggested ways to alleviate any expectation gap if the SEC moves forward with the...

Read More

To the Point – FASB clarifies when changes to share-based payments must be accounted for as modifications

Go to Source Author: The FASB issued final guidance that clarifies when changes to the terms or conditions of a share-based payment must be accounted for as modifications. Entities will apply modification accounting if the value, vesting conditions or classification of the award changes. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after 15 December 2017. Early adoption is permitted, including adoption in any interim...

Read More

Comment Letter – SEC’s Inline XBRL proposal

Go to Source Author: In our comment letter, we supported the objective of requiring structured data and data tagging to improve disclosure analysis and help investors and other market participants make more-informed decisions. However, we expressed concerns about requiring the use of Inline XBRL and suggested other actions that could be taken to improve the quality and reliability of financial statement data tagging. We noted that embedding tags in the financial statements could lead investors to assume such tags have been audited or reviewed and suggested ways to alleviate any expectation gap if the SEC moves forward with the...

Read More

Comment Letter – FASB proposal to simplify the balance sheet classification of debt

Go to Source Author: In our comment letter, we support the FASB’s efforts to reduce the cost and complexity of determining whether debt should be classified as current or noncurrent on a classified balance sheet by replacing today’s rules-based guidance with a principles-based approach. While we also support the FASB’s proposed exception for certain waivers of covenant violations received after the balance sheet date but before the financial statements are issued, we recommend that the FASB clarify the proposed principle by requiring classification to be based on whether current assets are needed to settle the...

Read More