- On March 11, 2015, the Financial Accounting Standards Board (FASB) made some important decisions about the ongoing project, Insurance-Disclosures about Short Duration Contracts.
- New accounting method change procedures will help small businesses comply with repair and maintenance regulations.
- Two new revenue procedures mean major modifications for accounting method changes.
- The new general requirements of Uniform Guidance and five methods of procurement most closely follow the previous OMB Circular 102, Grants and Cooperative Agreements with State and Local Governments.
- The Society of Actuaries recently released new mortality tables for use by employee benefit plans and plan sponsors when measuring pension obligations. The new tables, RP-2014 (mortality tables) and MP-2014 (longevity improvement scale) will most likely result in higher pension obligations.
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