BDO Assurance Newsletter Fall 2012

In this newsletter, get up to speed on the following accounting reporting topics and hear the latest from the PCAOB, SEC & IASB.
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Emerging Issue Task Force (EITF) Issue No. 12-A
Statement of Cash Flows (Topic 230)
Not for profit entities: classification of the sales proceeds of donated financial assets in the statement of cash flows

EITF Issue No. 12-E
Entertainment – Films (Topic 926)
Accounting for Fair Value Information That Arises after the Measurement Date and Its inclusion in the impairment analysis of unamortized film costs

Accounting Standards Update 2012-03
Technical amendments and corrections to SEC Sections, amendments to SEC paragraph pursuant to SEC Staff Accounting Bulletin No. 114, technical amendments pursuant to SEC Release No. 33-9250, and correction related to FASB Accounting Standard Update 2010-22

Accounting Standards Update 2012-02
Goodwill and Other (Topic 350)
Testing indefinite-Lived intangible assets for impairment

Accounting Standards Update 2012-01
Health Care Entities (Topic 954)
Continuing care retirement communities, refundable advance fees

Proposed Accounting Standards Updates:

Comprehensive Income (Topic 220)
Presentation of reclassified out of accumulated other comprehensive income

Liabilities (Topic 405)
Obligations resulting from joint and several liability arrangements (a consensus of the FASB Emerging Issues Task Force)

Not-for-profit Entities (Topic 958)
Personnel services received from an affiliate for which the affiliate does not seek compensation (a consensus of the FASB Emerging Issues Task Force)

Presentation of Financial Statements (Topic 205)
Liquidation basis of accounting

Financial instruments (Topic 825)
Liquidation basis of accounting

Public Company Accounting Oversight Board (PCAOB):

Auditing Standard No. 16
Communications with Audit Committees, and transitional and related amendments to other PCAOB standards
Proposed PCAOB Guidance

Securities and Exchange Commission (SEC):

Final SEC Guidance
Proposed SEC Guidance

International Accounting Standards Board (IASB):

Final IASB Guidance
Proposed IASB Guidance

Effective Dates of U.S. Accounting Pronouncements

 

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