Disclosures by business entities about government assistance
ASU 2021-10 will require business entities to disclose information about certain types of government assistance they receive.
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2021 Effective Date Reminder
This document lists pronouncements that became effective on or after Jan. 1, 2021 or are not yet effective as of Nov. 1, 2021.
Financial institutions and the phase out of LIBOR
We have updated our white paper regarding the fundamentals of LIBOR phase out and transition for financial institutions.
Recipient accounting for SVOG and RRF grants
The AICPA has issued recipient accounting guidance for Shuttered Venue Operators Grants and Restaurant Revitalization Fund grants.
Accounting for certain leases with variable lease payments
ASU 2021-05 addresses the accounting for a lease with variable lease payments that do not depend on a reference index or a rate.
GASB proposal: Accounting changes and error corrections
A recent GASB Exposure Draft addresses financial reporting requirements related to accounting changes and error corrections.
Donor-advised funds: Accounting implications related to pledges
A discussion of the accounting implications when a donor plans to use a donor-advised fund for a promise to give.
FASB to finalize goodwill impairment triggering event alternative
FASB votes to finalize a goodwill impairment triggering event alternative for private companies and not-for-profit entities.
Additional updates to Coronavirus: Financial reporting considerations
Our white paper has been updated to reflect recent financial reporting developments resulting from the Coronavirus pandemic.
FASB proposes goodwill impairment triggering event alternative
FASB proposes a goodwill impairment triggering event alternative for certain private companies and not-for-profit entities.
Possible extension of TDR and CECL relief provided by CARES Act
Potential extension of the financial reporting relief related to TDRs and CECL provided to certain financial institutions in the CARES Act.
COVID-19: Clarification on interagency statement on loan modifications
Clarifications have been provided on the interagency statement on loan modifications for customers affected by COVID-19.
GASB proposes implementation guidance
The GASB recently released a proposed implementation guide to address a wide array of practice issues related to GASB Statements.
New edition: Accounting for debt modifications and restructurings
We have published a new edition of our guide regarding the accounting for debt modifications, restructurings and exchanges.
FASB to propose goodwill impairment triggering event alternative
The FASB will propose an ASU that would provide a goodwill impairment triggering event alternative for certain entities.
Audit committee resource: Auditing estimates and use of specialists
A PCAOB resource provides information for audit committees about new requirements for auditing estimates and use of specialists.