What You Need to Know
As 2019 winds to a close, it's imperative you review and evaluate the new and soon-to-be effective requirements to ensure they are considered for year-end reporting and provide you opportunities to optimize alternative adoption methods.
This edition of A Closer Look addresses requirements issued by the FASB, including all ASU's issued in 2019 that could affect an entity’s year-end financial reporting and select ASUs issued in prior periods that might be adopted in the current reporting period.
The discussion of each ASU is organized into 6 topics:
- Applicability — To whom the ASU applies
- Effective date — The effective date of the ASU for both public and non-public entities
- Early adoption — Whether early adoption is allowed
- Transition — Transition requirements, including allowed alternative transition methods
- Discussion — A discussion of the guidance contained in the ASU
- Presentation and disclosure — Disclosure and presentation requirements of the new guidance
Plus, get an in-depth update on SEC rules, regulations and other related items.
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