Month: June 2018

To the Point – FASB simplifies the accounting for share-based payments to nonemployees

Go to Source Author: The FASB issued final guidance to simplify the accounting for share-based payments to nonemployees by aligning it with the accounting for share-based payments to employees, with certain exceptions. Under the guidance, the measurement of equity-classified nonemployee awards will be fixed at the grant date, which may lower their cost and reduce volatility in the income statement. Early adoption is permitted, including in an interim period, but not before an entity adopts ASC 606, Revenue from contracts with...

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To the Point – FASB clarifies the guidance for contributions received and contributions made

Go to Source Author: The FASB issued final guidance to clarify how entities will determine whether to account for a transfer of assets as an exchange transaction or a contribution and how they will determine whether a contribution is conditional. While accounting for contributions primarily affects not-for-profit entities, the clarified guidance applies to all entities (including business entities) that receive or make contributions, except for certain transactions such as transfers of assets business entities receive from government...

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To the Point – FASB to issue final guidance on long-duration contracts for insurers

Go to Source Author: The FASB voted to move ahead with a final standard that will change how insurers account for long-duration contracts, including how they measure, recognize and make disclosures about insurance liabilities and deferred acquisition costs. The new guidance will be effective for PBEs for fiscal years beginning after 15 December 2020 and a year later for all other entities. The FASB plans to issue an Accounting Standards Update in August...

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