- The FASB is considering whether to update the definitions for some primary financial reporting terms such as revenues and expenses. The debate is part of the accounting board’s effort to revise its Conceptual Framework, the guide the board uses to help it write consistent accounting standards.
- Baker Tilly provides comment on the proposed ASU for Consolidation (Topic 810), Targeted Improvements to Related Party Guidance for Variable Interest Entities, issued by the FASB.
- FASB’s guidance on reporting hedging transactions is complicated and is currently a leading cause of restatements. But that could change, now that the FASB has issued ASU No. 2017-12.
- Baker Tilly not-for-profit specialists provide a detailed overview on ASU 2016-14.
- Baker Tilly's Phil Santarelli weighs in on the expected sprint to implement ASC 606 in the final quarter of 2017 in this recent Compliance Week article. (subscription required)
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