2017

Center for Plain English Accounting Alerts - 2017 

In addition to monthly reports, the CPEA issues brief “alerts” related to the “release” of authoritative accounting and attest literature and implementation material associated with this literature. The 2017 alerts reside on this page. Also, this page will contain news about CPEA services and membership as well as upcoming member events.

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SAS No. 133 Auditor Involvement With Exempt Offering Documents

News SAS No. 133 establishes auditing requirements when the auditor is involved with exempt offerings.
Published on July 26, 2017

ASU 2017-11 Certain Financial Instruments with Down Round Features

News ASU 2017-11 amends guidance in FASB ASC 260, FASB ASC 480, and FASB ASC 815.
Published on July 19, 2017

ASU 2017-10 Determining the Customer in Service Concession Arrangements

News The amendments in ASU 2017-10 apply to the accounting by entities operating infrastructure under the terms of a service concession arrangement.
Published on May 18, 2017

ASU 2017-09 Share-Based Payment Awards & Modification Accounting

News The amendments in ASU 2017-09 do not fundamentally change the notion of a modification but, instead, provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in FASB ASC 718.
Published on May 11, 2017

ASU 2017-08 Premium Amortization on Purchased Callable Debt Securities

News The amendments in ASU 2017-08 shorten the amortization period for certain callable debt securities held at a premium.
Published on April 03, 2017

ASU 2017-07 Separation of the Service Component of Net Benefit Cost

News The amendments in ASU 2017-07 amend presentation requirements related to reporting the service cost component of net benefit costs to require that the service cost component be reported in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period,
Published on March 14, 2017

ASU 2017-06 EBP Master Trust Reporting

News The amendments in ASU 2017-06 amend presentation and disclosure requirements related to EBP interests in master trusts.
Published on March 07, 2017

ASU 2017-05 Changes to the Derecognition of Nonfinancial Assets & Partial Sales

News The amendments in ASU 2017-05 affect primarily entities in the real estate industry, eliminating the guidance specific to real estate sales in FASB ASC 360-20. However, the amendments may affect other industries such as power and utilities, alternative energy, life sciences, and shipping.
Published on March 01, 2017

SAS No. 132 Auditing Guidance Related to Going Concern

News The main objective in issuing SAS 132 was to comprehensively amend the going concern auditing literature related to management’s responsibilities for assessing going concern.
Published on February 27, 2017

ASU 2017-04 Simplified Goodwill Impairment Testing for All

News ASU 2017-04 eliminates Step 2 from the goodwill impairment test currently prescribed in U.S. GAAP.
Published on January 31, 2017

ASU 2017-02 Clarifying Not-for-Profit Consolidation

News ASU 2017-02 provides clarity for consolidation once the amendments in ASU 2015-02 become effective.
Published on January 18, 2017

ASU 2017-01 Revising the Definition of a Business in U.S. GAAP

News ASU 2017-01 amends FASB ASC 805 and it narrows the definition of a business and provides a framework that gives entities a basis for making reasonable judgments about whether a transaction involves an asset or a business.
Published on January 13, 2017

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