Month: November 2017

To the Point – Companies should start planning for potential tax reform now

Go to Source Author: As Congress works on tax reform, which could be enacted before the end of 2017, companies should start planning for the significant income tax accounting implications they may need to address. The proposals could have significant income tax accounting implications for companies starting in the period when the law is enacted. As a result, companies should start analyzing the potential effects of the proposal now and begin developing implementation plans so they are prepared to record and disclose the financial reporting effects in the period of...

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2018 SEC quarterly reports – Form 10-Q

Go to Source Author: We have updated our SEC Financial Reporting Series to reflect all final SEC rules and interpretive guidance issued through 31 October 2017. This publication is intended as a reference tool for preparing quarterly reports on Form...

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2017 SEC annual reports – Form 10-K

Go to Source Author: We have updated our SEC Financial Reporting Series to reflect all final SEC rules and interpretive guidance issued through 31 October 2017. This publication is intended as a reference tool for preparing annual reports on Form...

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Comment Letter – FASB’s proposed amendments to the new recognition and measurement guidance

Go to Source Author: In our comment letter, we support the FASB’s efforts to clarify certain aspects of the new guidance on recognizing and measuring financial instruments. However, we believe the Board should define “same type” of equity securities to help entities apply the guidance on changing from the measurement alternative to a fair value method. In addition, we recommend that the Board clarify the acceptability of the cost method with amortization to account for investments in qualified affordable housing projects and provide guidance on the transition approach for certain insurers that measure their equity securities without readily determinable fair values at fair value with changes in fair value recognized in other comprehensive...

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