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Quarterly Accounting Roundupby Magnus Orrell and Joseph Renouf, Deloitte & Touche LLP
To our clients, colleagues, and other friends:
Welcome to Quarterly Accounting Roundup: First Quarter — 2019. In the first quarter of 2019, the FASB issued the following final and proposed guidance:
• Final Accounting Standards Updates (ASUs) that (1) enhance the accounting for costs associated with episodic television series, (2) make Codification improvements to the new leasing standard, and (3) update the definition of “collections.”
• Proposed ASUs that would (1) provide guidance on recognizing and measuring deferred revenue in a business combination, (2) ease transition to the Board’s new credit losses standard, (3) address the accounting for share-based payments issued as sales incentives to customers, and (4) improve the income tax disclosure requirements in U.S. GAAP.
In other notable news, the SEC issued a final rule in response to recommendations in the SEC staff’s Report on Modernization and Simplification of Regulation S-K. The final rule makes specific revisions to a limited group of items in Regulation S-K and is intended to streamline and improve disclosures. In addition, the PCAOB released a new standard on auditing accounting estimates as well as amendments to its auditing standards on the auditor’s use of the work of specialists.
We value your feedback and would appreciate any comments you may have on Quarterly Accounting Roundup. Take a moment to tell us what you think by sending us an e-mail at [email protected].
In This Issue• Accounting — Newly
Issued Standards
• Accounting — Exposure Drafts
• Accounting — Other Key Developments
• Auditing Developments
• Regulatory and Compliance Developments
• Appendix A: Significant Adoption Dates
• Appendix B: Current Status of FASB Projects
• Appendix C: New Deloitte U.S. Accounting Publications
First Quarter — 2019
2
For the latest news and publications, visit Deloitte’s US GAAP Plus Web site or subscribe to Weekly Accounting Roundup, a digest of news, developments, and Deloitte publications related to predominantly U.S. accounting topics. Also see our Twitter feed for up-to-date information on the latest news, research, events, and more. Further, see the Deloitte Accounting Research Tool (DART) for a comprehensive online library of accounting and financial disclosure literature, including Deloitte’s own interpretive guidance and publications.
Featured Deloitte Publications
Notable publications released by Deloitte in the first quarter of 2019 include the following:
• A Roadmap to Applying the New Leasing Standard (2019) — Combines the requirements in ASC 8421 with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. The second edition of this Roadmap highlights (1) the requirements of ASC 842 that significantly differ from those in ASC 840 and IFRS 16 and (2) recent standard-setting developments (through the February 13, 2019, FASB meeting).
• A Roadmap to Non-GAAP Financial Measures (2019) — The 2019 edition of this Roadmap includes new and updated discussions of common themes identified by the SEC staff in comment letters and public statements as well as other recent developments related to non-GAAP measures.
• A Comparison of IFRS Standards and U.S. GAAP: Bridging the Differences — Discusses differences between the International Accounting Standards Board’s (IASB®) IFRS® Standards and the FASB’s U.S. GAAP.
1 For titles of FASB Accounting Standards Codification (ASC) references, see Deloitte’s “Titles of Topics and Subtopics in the FASB Accounting Standards Codification.”
3
Accounting — Newly Issued StandardsDefinition of “Collections”
FASB Updates Definition of “Collections”Affects: All entities.
Summary: On March 21, 2019, the FASB issued ASU 2019-03,2 which amends the definition of the term “collections” in U.S. GAAP by aligning it with the definition used in the Code of Ethics for Museums of the American Alliance of Museums. The amendments in the ASU “require that a collection-holding entity disclose its policy for the use of proceeds from when collection items are deaccessioned (that is, removed from a collection).”
Next Steps: The ASU’s amendments are effective prospectively for annual financial statements issued for fiscal years beginning after December 15, 2019, and for interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted.
Episodic Television Series
FASB Enhances the Accounting for Costs Associated With Episodic Television SeriesAffects: All entities.
Summary: On March 6, 2019, the FASB issued ASU 2019-023 in response to an EITF consensus. The ASU aligns “the accounting for production costs of an episodic television series with the accounting for production costs of films by removing the content distinction for capitalization.” Further, the ASU requires entities to “reassess estimates of the use of a film for a film in a film group and account for any changes prospectively.”
Next Steps: The ASU is effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For other entities, the ASU is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted.
Other Resources: For more information, see the press release and video on the FASB’s Web site.
Leases
FASB Makes Codification Improvements to New Leasing StandardAffects: All entities.
Summary: On March 5, 2019, the FASB issued ASU 2019-01,4 which amends certain aspects of the Board’s new leasing standard, ASU 2016-02.5 The ASU addresses the following topics:
• Determination of the fair value of the underlying asset by lessors that are not manufacturers or dealers.
• Presentation in the statement of cash flows for sales-type and direct financing leases by lessors within the scope of ASC 942.
• Clarification of interim disclosure requirements during transition.
2 FASB Accounting Standards Update No. 2019-03, Updating the Definition of Collections.3 FASB Accounting Standards Update No. 2019-02, Improvements to Accounting for Costs of Films and License Agreements for Program
Materials — a consensus of the FASB Emerging Issues Task Force.4 FASB Accounting Standards Update No. 2019-01, Leases (Topic 842): Codification Improvements.5 FASB Accounting Standards Update No. 2016-02, Leases.
In This Section• Definition of
“Collections”o FASB Updates
Definition of “Collections”
• Episodic Television Serieso FASB Enhances the
Accounting for Costs Associated With Episodic Television Series
• Leaseso FASB Makes
Codification Improvements to New Leasing Standard
4
Next Steps: For effective date and transition information, see Appendix A.
Other Resources: Deloitte’s March 7, 2019, journal entry. Also see the press release on the FASB’s Web site.
5
Accounting — Exposure DraftsBusiness Combinations
FASB Issues Proposal and Invitation to Comment on the Recognition and Measurement of Deferred Revenue in Business CombinationsAffects: All entities.
Summary: On February 14, 2019, the FASB issued a proposed ASU6 and invitation to comment7 on recognizing and measuring deferred revenue in a business combination. The proposed ASU would “require that an entity (acquirer) recognize a liability assumed in a business combination from a contract with a customer if that liability represents an unsatisfied performance obligation under Topic 606 for which the acquiree has received consideration (or the amount is due) from the customer.” The invitation to comment was issued to obtain feedback from stakeholders on “measurement and other topics related to revenue contracts acquired in a business combination,” including “[p]ayment terms and their effect on the subsequent revenue recognized” and the “[c]osts to fulfill a performance obligation in measuring the fair value of a contract liability for a revenue contract under Topic 805.”
Next Steps: Comments on the proposed ASU and invitation to comment are due by April 30, 2019.
Other Resources: For more information, see the press release on the FASB’s Web site.
Credit Losses
FASB Proposes to Ease Transition to the Credit Losses StandardAffects: All entities.
Summary: On February 6, 2019, the FASB issued a proposed ASU8 that would allow entities to irrevocably elect, upon adoption of ASU 2016-13,9 the fair value option for financial instruments that were previously recorded at amortized cost (except for held-to-maturity debt securities) and that are within the scope of ASC 326-20, provided that the instruments are eligible for the fair value option under ASC 825-10. This election would be made on an instrument-by-instrument basis.
Comments on the proposed ASU were due by March 8, 2019.
Other Resources: Deloitte’s February 11, 2019, Heads Up. Also see the press release on the FASB’s Web site.
Income Taxes
FASB Issues Proposed ASU to Enhance Income Tax Disclosure RequirementsAffects: All entities.
Summary: On March 25, 2019, the FASB issued a proposed ASU10 that is intended to enhance the income tax disclosure requirements in U.S. GAAP. In addition to modifying certain existing income tax disclosure requirements, the proposed ASU would prescribe several new
6 FASB Proposed Accounting Standards Update, Revenue From Contracts With Customers — Recognizing an Assumed Liability — a consensus of the FASB Emerging Issues Task Force.
7 FASB Invitation to Comment, Measurement and Other Topics Related to Revenue Contracts With Customers Under ASC 805.8 FASB Proposed Accounting Standards Update, Targeted Transition Relief for Topic 326, Financial Instruments — Credit Losses.9 FASB Accounting Standards Update No. 2016-13, Measurement of Credit Losses on Financial Instruments.10 FASB Proposed Accounting Standards Update, Disclosure Framework — Changes to the Disclosure Requirements for Income Taxes.
In This Section• Business Combinations
o FASB Issues Proposal and Invitation to Comment on the Recognition and Measurement of Deferred Revenue in Business Combinations
• Credit Losseso FASB Proposes to
Ease Transition to the Credit Losses Standard
• Income Taxeso FASB Issues Proposed
ASU to Enhance Income Tax Disclosure Requirements
• Not-for-Profit Entitieso FASB Issues
Proposed ASU Extending Private-Company Accounting Alternatives on Goodwill and Intangible Assets to Not-for-Profit Entities
• Share-Based Paymento FASB Releases
Proposed ASU to Address the Accounting for Share-Based Payments Issued as Sales Incentives to Customers
• Internationalo IASB Proposes
Amendments to Requirements Related to Onerous Contracts
6
requirements. The purpose of the proposal, which is part of the Board’s disclosure framework project, is to increase the relevance of income tax disclosures for financial statement users.
Next Steps: Comments on the proposed ASU are due by May 31, 2019.
Other Resources: For more information, see the press release on the FASB’s Web site.
Not-for-Profit Entities
FASB Issues Proposed ASU Extending Private-Company Accounting Alternatives on Goodwill and Intangible Assets to Not-for-Profit EntitiesAffects: Not-for-profit (NFP) entities.
Summary: On December 20, 2018, the FASB issued a proposed ASU11 that offers NFP entities simplified accounting alternatives related to goodwill and intangible assets. Specifically, these alternatives would alleviate the costs and complexities associated with (1) the goodwill impairment test and (2) the measurement of certain customer-related intangible assets and noncompete agreements.
Comments on the proposed ASU were due by February 18, 2018.
Other Resources: Deloitte’s January 3, 2019, journal entry.
Share-Based Payment
FASB Releases Proposed ASU to Address the Accounting for Share-Based Payments Issued as Sales Incentives to CustomersAffects: All entities.
Summary: On March 4, 2019, the FASB issued a proposed ASU12 that would clarify the accounting for share-based payments issued as sales incentives to customers (“share-based sales incentives”) under ASC 606. The proposed ASU would require that entities measure and classify share-based sales incentives by applying the guidance in ASC 718. Accordingly, under the proposed ASU, entities would measure share-based sales incentives by using a fair-value-based measure on the grant date, which would be the date on which the grantor (the entity) and the grantee (the customer) reach a mutual understanding of the key terms and conditions of the share-based sales incentive. The resulting measurement of the share-based sales incentive would be reflected as a reduction of revenue in accordance with the guidance in ASC 606 on consideration payable to a customer. After initial recognition, the measurement and classification of the share-based sales incentive would continue to be subject to ASC 718 unless (1) the award is subsequently modified when vested and (2) the grantee is no longer a customer.
Next Steps: Comments on the proposed ASU are due by April 18, 2019.
Other Resources: Deloitte’s March 5, 2019, Heads Up.
11 FASB Proposed Accounting Standards Update, Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities.
12 FASB Proposed Accounting Standards Update, Codification Improvements — Share-Based Consideration Payable to a Customer.
7
International
IASB Proposes Amendments to Requirements Related to Onerous ContractsAffects: Entities reporting under IFRS Standards.
Summary: On December 13, 2018, the IASB released an exposure draft13 that would clarify IAS 37 (on onerous contracts) by specifying which costs should be included in the assessment of whether a contract will be loss-making. The proposed amendments would:
• “[S]pecify that the costs of fulfilling a contract include both incremental costs, such as the costs of materials, and an allocation of other costs directly related to the contract, such as the depreciation charge for equipment the company uses to fulfil contracts.”
• Give examples of costs that are — and are not — directly related to a contract providing goods or services.
Next Steps: Comments on the ED are due by April 15, 2019.
Other Resources: Deloitte’s December 19, 2018, IFRS in Focus. Also see the press release and In Brief publication on the IASB’s Web site.
13 IASB Exposure Draft ED/2018/2, Onerous Contracts — Cost of Fulfilling a Contract.
8
Credit Losses
FASB Issues Q&A Document on Estimating Credit Loss ReservesAffects: All entities.
Summary: On January 10, 2019, the FASB published a Q&A document14 that addresses issues related to using the weighted-average remaining maturity (WARM) method to estimate the allowance for credit losses in accordance with ASU 2016-13. The FASB concludes, among other things, that the WARM method “is one of many methods that could be used to estimate an allowance for credit losses for less complex financial asset pools.”
Other Resources: For more information, see the press release on the FASB’s Web site.
14 FASB Staff Q&A Document, Whether the Weighted-Average Remaining Maturity Method Is an Acceptable Method to Estimate Expected Credit Losses.
In This Section• Credit Losses
o FASB Issues Q&A Document on Estimating Credit Loss Reserves
Accounting — Other Key Developments
9
CAQ
CAQ Issues Publication on Audit-Quality DisclosuresAffects: Auditors.
Summary: On March 18, 2019, the CAQ released a publication15 on the audit-quality disclosure framework. The publication “assists firms in their ongoing efforts to develop [audit-quality] disclosures, which many accounting firms now provide through annual transparency or audit quality reports.”
Other Resources: For more information, see the press release on the CAQ’s Web site.
PCAOB
PCAOB Issues Staff Guidance on Implementing Requirements Related to Critical Audit MattersAffects: Auditors.
Summary: On March 18, 2019, the PCAOB issued the following three staff guidance documents on the implementation of its new requirements related to critical audit matters (CAMs):
• The Basics.
• Staff Observations From Review of Audit Methodologies.
• A Deeper Dive on the Determination of CAMs.
Other Resources: For more information, see the press release on the PCAOB’s Web site.
PCAOB Adopts New Estimates Standard and AmendmentsAffects: Auditors.
Summary: On December 20, 2018, the PCAOB adopted a new standard16 on auditing accounting estimates as well as amendments17 to its auditing standards on the auditor’s use of the work of specialists. The new standard “replaces three standards with a single, uniform standard that sets forth an updated approach to auditing accounting estimates.” The amendments “strengthen the requirements for evaluating the work of a company’s specialist, whether employed or engaged by the company.”
Next Steps: Provided that they are approved by the SEC, the new standard and amendments are effective for financial statement audits for fiscal years ending on or after December 15, 2020.
Other Resources: Deloitte’s January 16, 2019, Audit & Assurance Update. Also see the press release on the PCAOB’s Web site.
15 CAQ Publication, Audit Quality Disclosure Framework.16 PCAOB Release No. 2018-005, Auditing Accounting Estimates, Including Fair Value Measurements — and Amendments to PCAOB Auditing
Standards.17 PCAOB Release No. 2018-006, Amendments to Auditing Standards for Auditor’s Use of the Work of Specialists.
Auditing DevelopmentsIn This Section• CAQ
o CAQ Issues Publication on Audit-Quality Disclosures
• PCAOB o PCAOB Issues
Staff Guidance on Implementing Requirements Related to Critical Audit Matters
o PCAOB Adopts New Estimates Standard and Amendments
10
SEC
SEC Issues Final Rule on Modernization and Simplification of Regulation S-KAffects: SEC registrants.
Summary: On March 20, 2019, the SEC issued a final rule18 to modernize and simplify certain disclosure requirements in Regulation S-K and related rules and forms. The intent of the final rule is to improve the readability of filed documents and simplify registrants’ compliance efforts without significantly altering the total mix of information that is ultimately provided to investors. Among other things, the amendments permit registrants to, in certain instances, forgo discussion of the comparison of the earliest prior years (year 2 to year 3) in Management’s Discussion and Analysis and allow companies to redact confidential information that is not material and could cause competitive harm to the company from certain exhibits without filing a confidential treatment request.
Next Steps: The final rule is generally effective 30 days after the date of its publication in the Federal Register, with certain exceptions.
Other Resources: Deloitte’s March 25, 2019, Heads Up. Also see the press release on the SEC’s Web site.
SEC Proposes Offering Reforms for Business Development Companies and Registered Closed-End Funds Affects: SEC registrants.
Summary: On March 20, 2019, the SEC issued a proposed rule19 that would “modify the registration, communications, and offering processes available to [business development companies] and registered closed-end funds, building on offering practices that operating companies currently use.”
Next Steps: Comments on the proposed rule are due 60 days after the date of its publication in the Federal Register.
Other Resources: For more information, see the press release on the SEC’s Web site.
SEC Proposes to Expand “Test-the-Waters” Modernization ReformAffects: SEC registrants.
Summary: On February 19, 2019, the SEC issued a proposed rule20 on solicitations of interest before a registered public offering. The proposal would allow all potential issuers, not just emerging growth companies, “to engage in test-the-waters communications with certain institutional investors regarding a contemplated registered securities offering prior to, or following, the filing of a registration statement related to such offering.”
Next Steps: Comments on the proposed rule are due by April 29, 2019.
Other Resources: For more information, see the press release on the SEC’s Web site.
18 SEC Final Rule Release No. 33-10618, FAST Act Modernization and Simplification of Regulation S-K.19 SEC Proposed Rule Release No. 33-10619, Securities Offering Reform for Closed-End Investment Companies.20 SEC Final Rule Release No. 33-10607, Solicitations of Interest Prior to a Registered Public Offering.
Regulatory and Compliance DevelopmentsIn This Section• SEC
o SEC Issues Final Rule on Modernization and Simplification of Regulation S-K
o SEC Proposes Offering Reforms for Business Development Companies and Registered Closed-End Funds
o SEC Proposes to Expand “Test-the-Waters” Modernization Reform
o SEC Issues C&DIs Related to Disclosure of Certain Self-Identified Diversity Characteristics
o SEC Issues Final Rule to Allow Exchange Act Reporting Companies to Use Regulation A
o SEC Seeks Input on Quarterly Reports and Earnings Releases
11
SEC Issues C&DIs Related to Disclosure of Certain Self-Identified Diversity CharacteristicsAffects: SEC registrants.
Summary: On February 6, 2019, the staff in the SEC’s Division of Corporation Finance updated its compliance and disclosure interpretations (C&DIs) related to preparing certain disclosures about self-identified diversity characteristics that may be required under Regulation S-K, Item 401,21 or, with respect to nominees, under Regulation S-K, Item 407.22 Specifically, Questions 116.11 and 133.13 have been added to the C&DIs.
Other Resources: For more information, see the Regulation S-K C&DI page on the SEC’s Web site.
SEC Issues Final Rule to Allow Exchange Act Reporting Companies to Use Regulation AAffects: SEC registrants.
Summary: On December 19, 2018, the SEC issued a final rule23 to allow companies that are subject to the reporting requirements of the Securities Exchange Act of 1934 (the “Exchange Act”) to use the Regulation A exemption from registration under the Securities Act of 1933 for offerings of securities up to $50 million. As stated in the SEC’s press release on the final rule, the rule also allows Exchange Act reporting companies to “meet their Regulation A ongoing reporting obligations through their Exchange Act reports” and makes conforming changes to Form 1-A. The final rule was issued in response to a mandate from the Economic Growth, Regulatory Relief, and Consumer Protection Act.
The final rule became effective on January 31, 2019.
Other Resources: For more information, see the press release on the SEC’s Web site.
SEC Seeks Input on Quarterly Reports and Earnings ReleasesAffects: SEC registrants.
Summary: On December 18, 2018, the SEC issued a request for comment24 on quarterly reports and earnings releases issued by reporting companies. The request seeks feedback on a number of items related to current quarterly reporting requirements and practices, including (1) the frequency of periodic reporting, (2) the extent of quarterly disclosures, (3) the relationship between required Forms 10-Q and voluntary earnings releases, and (4) the relationship between quarterly reporting and a focus on short-term results.
Comments were due by March 21, 2019.
Other Resources: Deloitte’s December 21, 2018, Heads Up.
21 SEC Regulation S-K, Item 401, “Directors, Executive Officers, Promoters, and Control Persons.”22 SEC Regulation S-K, Item 407, “Corporate Governance.”23 SEC Final Rule Release No. 33-10591, Conditional Small Issues Exemption Under the Securities Act of 1933 (Regulation A).24 SEC Release No. 33-10588, Request for Comment on Earnings Releases and Quarterly Reports.
12
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Mar
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info
rmat
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201
6-13
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tive
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info
rmat
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for
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terim
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with
in th
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fisca
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embe
r 15,
201
8,
US
GAA
P Pl
us n
ews
item
13
ASU
201
8-18
, Cla
rifyi
ng th
e In
tera
ctio
n Be
twee
n To
pic
808
and
Topi
c 60
6 (is
sued
Nov
embe
r 5,
2018
)
The
amen
dmen
ts in
this
ASU
are
eff
ectiv
e fo
r fisc
al y
ears
beg
inni
ng
afte
r Dec
embe
r 15,
201
9, a
nd
inte
rim p
erio
ds w
ithin
thos
e fis
cal
year
s.
The
amen
dmen
ts in
this
ASU
are
eff
ectiv
e fo
r fisc
al y
ears
beg
inni
ng
afte
r Dec
embe
r 15,
202
0, a
nd
inte
rim p
erio
ds w
ithin
fisc
al y
ears
be
ginn
ing
afte
r Dec
embe
r 15,
202
1.
Yes
Nov
embe
r 13,
201
8,
Hea
ds U
p
ASU
201
8-17
, Tar
gete
d Im
prov
emen
ts to
Rel
ated
Par
ty
Gui
danc
e fo
r Var
iabl
e In
tere
st
Entit
ies
(issu
ed O
ctob
er 3
1, 2
018)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
9, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
202
0, a
nd in
terim
pe
riods
with
in fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
021.
Yes
Nov
embe
r 19,
201
8,
Hea
ds U
p
ASU
201
8-16
, Inc
lusio
n of
the
Secu
red
Ove
rnig
ht F
inan
cing
Rat
e (S
OFR
) Ove
rnig
ht In
dex
Swap
(OIS
) Ra
te a
s a
Benc
hmar
k In
tere
st R
ate
for H
edge
Acc
ount
ing
Purp
oses
(is
sued
Oct
ober
25,
201
8)
For e
ntiti
es th
at h
ave
not a
lread
y ad
opte
d AS
U 2
017-
12, t
he
amen
dmen
ts in
this
ASU
mus
t be
ado
pted
con
curr
ently
with
the
amen
dmen
ts in
ASU
201
7-12
.
For e
ntiti
es th
at a
lread
y ha
ve
adop
ted
the
amen
dmen
ts in
ASU
20
17-1
2, th
e am
endm
ents
are
eff
ectiv
e fo
r fisc
al y
ears
beg
inni
ng
afte
r Dec
embe
r 15,
201
8, a
nd
inte
rim p
erio
ds w
ithin
thos
e fis
cal
year
s.
For e
ntiti
es th
at h
ave
not a
lread
y ad
opte
d AS
U 2
017-
12, t
he
amen
dmen
ts in
this
ASU
mus
t be
ado
pted
con
curr
ently
with
the
amen
dmen
ts in
ASU
201
7-12
.
For e
ntiti
es th
at a
lread
y ha
ve
adop
ted
the
amen
dmen
ts in
ASU
20
17-1
2, th
e am
endm
ents
are
eff
ectiv
e fo
r fisc
al y
ears
beg
inni
ng
afte
r Dec
embe
r 15,
201
9, a
nd
inte
rim p
erio
ds w
ithin
thos
e fis
cal
year
s.
Yes
Oct
ober
25,
201
8,
US
GAA
P Pl
us
new
s ite
m a
nd
Nov
embe
r 7, 2
018,
jo
urna
l ent
ry
ASU
201
8-15
, Cus
tom
er’s
Acco
untin
g fo
r Im
plem
enta
tion
Cost
s In
curr
ed in
a C
loud
Co
mpu
ting
Arra
ngem
ent T
hat I
s a
Serv
ice
Cont
ract
(iss
ued
Augu
st
29, 2
018)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
9, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
202
0, a
nd in
terim
pe
riods
with
in fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
021.
Yes
Sept
embe
r 11,
201
8,
Hea
ds U
p
ASU
201
8-14
, Disc
losu
re
Fram
ewor
k —
Cha
nges
to th
e D
isclo
sure
Req
uire
men
ts fo
r D
efine
d Be
nefit
Pla
ns (i
ssue
d Au
gust
28,
201
8)
Fisc
al y
ears
end
ing
afte
r Dec
embe
r 15
, 202
0.Fi
scal
yea
rs e
ndin
g af
ter D
ecem
ber
15, 2
021.
Yes
Augu
st 2
9, 2
018,
H
eads
Up
ASU
201
8-13
, Disc
losu
re
Fram
ewor
k —
Cha
nges
to th
e D
isclo
sure
Req
uire
men
ts fo
r Fai
r Va
lue
Mea
sure
men
t (is
sued
Au
gust
28,
201
8)
Fisc
al y
ears
, and
inte
rim p
erio
ds
with
in th
ose
fisca
l yea
rs, b
egin
ning
af
ter D
ecem
ber 1
5, 2
019.
Fisc
al y
ears
, and
inte
rim p
erio
ds
with
in th
ose
fisca
l yea
rs, b
egin
ning
af
ter D
ecem
ber 1
5, 2
019.
Yes
Augu
st 3
1, 2
018,
H
eads
Up
ASU
201
8-12
, Tar
gete
d Im
prov
emen
ts to
the
Acco
untin
g fo
r Lon
g-D
urat
ion
Cont
ract
s (is
sued
Aug
ust 1
5, 2
018)
Fisc
al y
ears
, and
inte
rim p
erio
ds
with
in th
ose
fisca
l yea
rs, b
egin
ning
af
ter D
ecem
ber 1
5, 2
020.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
202
1, a
nd in
terim
pe
riods
with
in fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
022.
Yes
Augu
st 2
1, 2
018,
In
sura
nce
Spot
light
14
ASU
201
8-11
, Lea
ses
(Top
ic 8
42):
Targ
eted
Impr
ovem
ents
(iss
ued
July
30,
201
8)
The
amen
dmen
ts in
this
ASU
rela
ted
to s
epar
atin
g co
mpo
nent
s of
a
cont
ract
affe
ct th
e am
endm
ents
in
ASU
201
6-02
, whi
ch a
re n
ot y
et
effec
tive
but c
an b
e ea
rly a
dopt
ed.
For e
ntiti
es th
at h
ave
not a
dopt
ed
ASC
842
befo
re th
e is
suan
ce o
f th
is A
SU, t
he e
ffect
ive
date
and
tr
ansi
tion
requ
irem
ents
for t
he
amen
dmen
ts in
this
ASU
rela
ted
to s
epar
atin
g co
mpo
nent
s of
a
cont
ract
are
the
sam
e as
the
effec
tive
date
and
tran
sitio
n re
quire
men
ts in
ASU
201
6-02
.
The
amen
dmen
ts in
this
ASU
rela
ted
to s
epar
atin
g co
mpo
nent
s of
a
cont
ract
affe
ct th
e am
endm
ents
in
ASU
201
6-02
, whi
ch a
re n
ot y
et
effec
tive
but c
an b
e ea
rly a
dopt
ed.
For e
ntiti
es th
at h
ave
not a
dopt
ed
ASC
842
befo
re th
e is
suan
ce o
f th
is A
SU, t
he e
ffect
ive
date
and
tr
ansi
tion
requ
irem
ents
for t
he
amen
dmen
ts in
this
ASU
rela
ted
to s
epar
atin
g co
mpo
nent
s of
a
cont
ract
are
the
sam
e as
the
effec
tive
date
and
tran
sitio
n re
quire
men
ts in
ASU
201
6-02
.
Yes
Augu
st 7
, 201
8,
Hea
ds U
p
ASU
201
8-10
, Cod
ifica
tion
Impr
ovem
ents
to T
opic
842
, Le
ases
(iss
ued
July
18,
201
8)
The
amen
dmen
ts in
this
ASU
affe
ct
the
amen
dmen
ts in
ASU
201
6-02
, w
hich
are
not
yet
effe
ctiv
e, b
ut fo
r w
hich
ear
ly a
dopt
ion
upon
issu
ance
is
per
mitt
ed. F
or e
ntiti
es th
at e
arly
ad
opte
d AS
C 84
2, th
e am
endm
ents
ar
e eff
ectiv
e up
on is
suan
ce
of th
is A
SU, a
nd th
e tr
ansi
tion
requ
irem
ents
are
the
sam
e as
thos
e in
ASC
842
. For
ent
ities
that
hav
e no
t ad
opte
d AS
C 84
2, th
e eff
ectiv
e da
te
and
tran
sitio
n re
quire
men
ts w
ill b
e th
e sa
me
as th
e eff
ectiv
e da
te a
nd
tran
sitio
n re
quire
men
ts in
ASC
842
.
The
amen
dmen
ts in
this
ASU
affe
ct
the
amen
dmen
ts in
ASU
201
6-02
, w
hich
are
not
yet
effe
ctiv
e, b
ut fo
r w
hich
ear
ly a
dopt
ion
upon
issu
ance
is
per
mitt
ed. F
or e
ntiti
es th
at e
arly
ad
opte
d AS
C 84
2, th
e am
endm
ents
ar
e eff
ectiv
e up
on is
suan
ce
of th
is A
SU, a
nd th
e tr
ansi
tion
requ
irem
ents
are
the
sam
e as
thos
e in
ASC
842
. For
ent
ities
that
hav
e no
t ad
opte
d AS
C 84
2, th
e eff
ectiv
e da
te
and
tran
sitio
n re
quire
men
ts w
ill b
e th
e sa
me
as th
e eff
ectiv
e da
te a
nd
tran
sitio
n re
quire
men
ts in
ASC
842
.
Yes
July
18,
201
8, U
S G
AAP
Plus
new
s ite
m
ASU
201
8-09
, Cod
ifica
tion
Impr
ovem
ents
(iss
ued
July
16,
20
18)
The
tran
sitio
n an
d eff
ectiv
e da
te
guid
ance
is b
ased
on
the
fact
s an
d ci
rcum
stan
ces
of e
ach
amen
dmen
t. So
me
of th
e am
endm
ents
in th
is
ASU
do
not r
equi
re tr
ansi
tion
guid
ance
and
will
be
effec
tive
upon
is
suan
ce o
f thi
s AS
U. H
owev
er, m
any
of th
e am
endm
ents
in th
is A
SU
do h
ave
tran
sitio
n gu
idan
ce w
ith
effec
tive
date
s fo
r ann
ual p
erio
ds
begi
nnin
g af
ter D
ecem
ber 1
5, 2
018,
fo
r PBE
s.
The
tran
sitio
n an
d eff
ectiv
e da
te
guid
ance
is b
ased
on
the
fact
s an
d ci
rcum
stan
ces
of e
ach
amen
dmen
t. So
me
of th
e am
endm
ents
in th
is
ASU
do
not r
equi
re tr
ansi
tion
guid
ance
and
will
be
effec
tive
upon
is
suan
ce o
f thi
s AS
U.
Yes
July
17,
201
8, U
S G
AAP
Plus
new
s ite
m
15
ASU
201
8-08
, Cla
rifyi
ng th
e Sc
ope
and
the
Acco
untin
g G
uida
nce
for C
ontr
ibut
ions
Rec
eive
d an
d Co
ntrib
utio
ns M
ade
(issu
ed Ju
ne
21, 2
018)
For e
ntiti
es th
at s
erve
as
a re
sour
ce
reci
pien
t, th
e am
endm
ents
sho
uld
be a
pplie
d to
con
trib
utio
ns re
ceiv
ed
for a
nnua
l per
iods
beg
inni
ng a
fter
June
15,
201
8, a
nd in
terim
per
iods
w
ithin
thos
e fis
cal y
ears
.
For e
ntiti
es th
at s
erve
as
a re
sour
ce
prov
ider
, the
am
endm
ents
sho
uld
be a
pplie
d to
con
trib
utio
ns m
ade
for a
nnua
l per
iods
beg
inni
ng a
fter
Dec
embe
r 15,
201
8, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs.
For e
ntiti
es th
at s
erve
as
a re
sour
ce
reci
pien
t, th
e am
endm
ents
sho
uld
be a
pplie
d to
ann
ual p
erio
ds
begi
nnin
g af
ter D
ecem
ber 1
5, 2
018,
an
d in
terim
per
iods
with
in fi
scal
ye
ars
begi
nnin
g af
ter D
ecem
ber 1
5,
2019
.
For e
ntiti
es th
at s
erve
as
a re
sour
ce
prov
ider
, the
am
endm
ents
sho
uld
be a
pplie
d to
ann
ual p
erio
ds
begi
nnin
g af
ter D
ecem
ber 1
5, 2
019,
an
d in
terim
per
iods
with
in fi
scal
ye
ars
begi
nnin
g af
ter D
ecem
ber 1
5,
2020
.
Yes
June
22,
201
8, U
S G
AAP
Plus
new
s ite
m
ASU
201
8-07
, Im
prov
emen
ts
to N
onem
ploy
ee S
hare
-Bas
ed
Paym
ent A
ccou
ntin
g (is
sued
June
20
, 201
8)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
8, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
9, a
nd in
terim
pe
riods
with
in fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
020.
Yes,
but
no
earli
er th
an th
e da
te o
n w
hich
an
entit
y ad
opts
ASC
606
.Ju
ne 2
1, 2
018,
Hea
ds
Up
ASU
201
8-06
, Cod
ifica
tion
Impr
ovem
ents
to T
opic
942
, Fi
nanc
ial S
ervi
ces
— D
epos
itory
an
d Le
ndin
g (is
sued
May
7, 2
018)
Effec
tive
upon
issu
ance
.Eff
ectiv
e up
on is
suan
ce.
N/A
May
8, 2
018,
US
GAA
P Pl
us n
ews
item
ASU
201
8-05
, Inc
ome
Taxe
s (T
opic
740
): Am
endm
ents
to S
EC
Para
grap
hs P
ursu
ant t
o SE
C St
aff A
ccou
ntin
g Bu
lletin
No.
118
(is
sued
Mar
ch 1
3, 2
018)
Effec
tive
upon
issu
ance
.Eff
ectiv
e up
on is
suan
ce.
N/A
Mar
ch 1
3, 2
018,
US
GAA
P Pl
us n
ews
item
, and
Janu
ary
3, 2
018,
Fin
anci
al
Repo
rtin
g Al
ert
(upd
ated
Aug
ust 3
0,
2018
)
ASU
201
8-04
, Inv
estm
ents
—
Deb
t Sec
uriti
es (T
opic
320
) and
Re
gula
ted
Ope
ratio
ns (T
opic
980
): Am
endm
ents
to S
EC P
arag
raph
s Pu
rsua
nt to
SEC
Sta
ff Ac
coun
ting
Bulle
tin N
o. 1
17 a
nd S
EC R
elea
se
No.
33-
9273
(iss
ued
Mar
ch 9
, 20
18)
The
effec
tive
date
for t
he
amen
dmen
ts to
ASC
320
is th
e sa
me
as th
e eff
ectiv
e da
te o
f ASU
20
16-0
1. O
ther
am
endm
ents
are
eff
ectiv
e up
on is
suan
ce.
The
effec
tive
date
for t
he
amen
dmen
ts to
ASC
320
is th
e sa
me
as th
e eff
ectiv
e da
te o
f ASU
20
16-0
1. O
ther
am
endm
ents
are
eff
ectiv
e up
on is
suan
ce.
N/A
Mar
ch 9
, 201
8, U
S G
AAP
Plus
new
s ite
m
16
ASU
201
8-03
, Tec
hnic
al
Corr
ectio
ns a
nd Im
prov
emen
ts to
Fi
nanc
ial I
nstr
umen
ts —
Ove
rall
(Sub
topi
c 82
5-10
): Re
cogn
ition
an
d M
easu
rem
ent o
f Fin
anci
al
Asse
ts a
nd F
inan
cial
Lia
bilit
ies
(issu
ed F
ebru
ary
28, 2
018)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
7, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs
begi
nnin
g af
ter J
une
15, 2
018.
Entit
ies
with
fisc
al y
ears
beg
inni
ng
betw
een
Dec
embe
r 15,
201
7, a
nd
June
15,
201
8, a
re n
ot re
quire
d to
ad
opt t
hese
am
endm
ents
unt
il th
e in
terim
per
iod
begi
nnin
g af
ter J
une
15, 2
018,
and
ent
ities
with
fisc
al
year
s be
ginn
ing
betw
een
June
15,
20
18, a
nd D
ecem
ber 1
5, 2
018,
ar
e no
t req
uire
d to
ado
pt th
ese
amen
dmen
ts b
efor
e ad
optin
g th
e am
endm
ents
in A
SU 2
016-
01.
For a
ll ot
her e
ntiti
es, t
he e
ffect
ive
date
is th
e sa
me
as th
e eff
ectiv
e da
te in
ASU
201
6-01
.
The
effec
tive
date
is th
e sa
me
as th
e eff
ectiv
e da
te in
ASU
201
6-01
.Ye
s, if
the
entit
y ha
s ad
opte
d AS
U
2016
-01.
Mar
ch 2
, 201
8,
jour
nal e
ntry
ASU
201
8-02
, Inc
ome
Stat
emen
t —
Repo
rtin
g Co
mpr
ehen
sive
Inco
me
(Top
ic 2
20):
Recl
assifi
catio
n of
Cer
tain
Tax
Effe
cts
From
Ac
cum
ulat
ed O
ther
Com
preh
ensiv
e In
com
e (is
sued
Feb
ruar
y 14
, 20
18)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
8, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
8, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs.
Yes
Janu
ary
3, 2
018,
Fi
nanc
ial R
epor
ting
Aler
t (up
date
d Au
gust
30,
201
8) a
nd
Febr
uary
15,
201
8,
US
GAA
P Pl
us n
ews
item
ASU
201
8-01
, Lan
d Ea
sem
ent
Prac
tical
Exp
edie
nt fo
r Tra
nsiti
on
to T
opic
842
(iss
ued
Janu
ary
25,
2018
)
See
effec
tive
date
info
rmat
ion
for
ASU
201
6-02
bel
ow.
See
effec
tive
date
info
rmat
ion
for
ASU
201
6-02
bel
ow.
Yes
Janu
ary
25, 2
018,
U
S G
AAP
Plus
new
s ite
m
ASU
201
7-15
, Cod
ifica
tion
Impr
ovem
ents
to T
opic
995
, U.S
. St
eam
ship
Ent
ities
: Elim
inat
ion
of
Topi
c 99
5 (is
sued
Dec
embe
r 5,
2017
)
Fisc
al y
ears
and
firs
t int
erim
per
iods
be
ginn
ing
afte
r Dec
embe
r 15,
201
8.Fi
scal
yea
rs a
nd fi
rst i
nter
im p
erio
ds
begi
nnin
g af
ter D
ecem
ber 1
5, 2
018.
Yes
Dec
embe
r 6, 2
017,
U
S G
AAP
Plus
new
s ite
m
ASU
201
7-14
, Inc
ome
Stat
emen
t —
Repo
rtin
g Co
mpr
ehen
sive
Inco
me
(Top
ic 2
20),
Reve
nue
Reco
gniti
on
(Top
ic 6
05),
and
Reve
nue
From
Co
ntra
cts
With
Cus
tom
ers
(Top
ic 6
06):
Amen
dmen
ts to
SEC
Pa
ragr
aphs
Pur
suan
t to
Staff
Ac
coun
ting
Bulle
tin N
o. 1
16 a
nd
SEC
Rele
ase
No.
33-
1040
3 (is
sued
N
ovem
ber 2
2, 2
017)
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
Yes
Nov
embe
r 22,
201
7,
US
GAA
P Pl
us n
ews
item
17
ASU
201
7-13
, Rev
enue
Re
cogn
ition
(Top
ic 6
05),
Reve
nue
From
Con
trac
ts W
ith
Cust
omer
s (T
opic
606
), Le
ases
(T
opic
840
), an
d Le
ases
(Top
ic
842)
: Am
endm
ents
to S
EC
Para
grap
hs P
ursu
ant t
o th
e St
aff
Anno
unce
men
t at t
he Ju
ly 2
0,
2017
EIT
F M
eetin
g an
d Re
sciss
ion
of P
rior S
EC S
taff
Anno
unce
men
ts
and
Obs
erve
r Com
men
ts (i
ssue
d Se
ptem
ber 2
9, 2
017)
Effec
tive
upon
ado
ptio
n of
ASC
60
6, R
even
ue F
rom
Con
trac
ts W
ith
Cust
omer
s, an
d AS
C 84
2, L
ease
s.
Effec
tive
upon
ado
ptio
n of
ASC
60
6, R
even
ue F
rom
Con
trac
ts W
ith
Cust
omer
s, an
d AS
C 84
2, L
ease
s.
Yes
Oct
ober
2, 2
017,
U
S G
AAP
Plus
new
s ite
m a
nd Ju
ly 2
0,
2017
, Hea
ds U
p
ASU
201
7-12
, Tar
gete
d Im
prov
emen
ts to
Acc
ount
ing
for
Hed
ging
Act
iviti
es (i
ssue
d Au
gust
28
, 201
7)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
8, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
9, a
nd in
terim
pe
riods
beg
inni
ng a
fter D
ecem
ber
15, 2
020.
Yes
Febr
uary
20,
201
8,
jour
nal e
ntry
and
Au
gust
30,
201
7,
Hea
ds U
p
ASU
201
7-11
, (Pa
rt I)
Acc
ount
ing
for C
erta
in F
inan
cial
Inst
rum
ents
W
ith D
own
Roun
d Fe
atur
es,
(Par
t II)
Repl
acem
ent o
f the
In
defin
ite D
efer
ral f
or M
anda
toril
y Re
deem
able
Fin
anci
al In
stru
men
ts
of C
erta
in N
onpu
blic
Ent
ities
and
Ce
rtai
n M
anda
toril
y Re
deem
able
N
onco
ntro
lling
Inte
rest
s W
ith a
Sc
ope
Exce
ptio
n (is
sued
July
13,
20
17)
The
amen
dmen
ts in
Par
t I a
re
effec
tive
for fi
scal
yea
rs, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs,
begi
nnin
g af
ter D
ecem
ber 1
5, 2
018.
N
o tr
ansi
tion
guid
ance
is re
quire
d fo
r the
am
endm
ents
in P
art I
I be
caus
e th
ose
amen
dmen
ts d
o no
t ha
ve a
n ac
coun
ting
effec
t.
The
amen
dmen
ts in
Par
t I a
re
effec
tive
for fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
019,
and
in
terim
per
iods
with
in fi
scal
yea
rs
begi
nnin
g af
ter D
ecem
ber 1
5, 2
020.
N
o tr
ansi
tion
guid
ance
is re
quire
d fo
r the
am
endm
ents
in P
art I
I be
caus
e th
ose
amen
dmen
ts d
o no
t ha
ve a
n ac
coun
ting
effec
t.
Yes
July
21,
201
7, H
eads
U
p, A
Roa
dmap
to
Acc
ount
ing
for
Cont
ract
s on
an
Entit
y’s O
wn
Equi
ty,
and
A Ro
adm
ap
to D
istin
guis
hing
Li
abili
ties
From
Equ
ity
ASU
201
7-10
, Det
erm
inin
g th
e Cu
stom
er o
f the
Ope
ratio
n Se
rvic
es —
a c
onse
nsus
of t
he
FASB
Em
ergi
ng Is
sues
Tas
k Fo
rce
(issu
ed M
ay 1
6, 2
017)
For P
BEs
that
hav
e no
t ado
pted
AS
U 2
014-
09, t
he a
men
dmen
ts
are
effec
tive
at th
e sa
me
time
ASU
20
14-0
9 is
effe
ctiv
e.
For e
ntiti
es th
at h
ave
adop
ted
ASU
20
14-0
9, th
e am
endm
ents
are
eff
ectiv
e fo
r fisc
al y
ears
beg
inni
ng
afte
r Dec
embe
r 15,
201
7, in
clud
ing
inte
rim p
erio
ds w
ithin
thos
e fis
cal
year
s, fo
r a P
BE; a
n N
FP e
ntity
th
at h
as is
sued
, or i
s a
cond
uit
bond
obl
igor
for,
secu
ritie
s th
at
are
trad
ed, l
iste
d, o
r quo
ted
on a
n ex
chan
ge o
r an
over
-the-
coun
ter
mar
ket;
and
an e
mpl
oyee
ben
efit
plan
that
file
s or
furn
ishe
s fin
anci
al
stat
emen
ts w
ith o
r to
the
SEC.
For n
on-P
BEs
that
hav
e no
t ado
pted
AS
U 2
014-
09, t
he a
men
dmen
ts
are
effec
tive
at th
e sa
me
time
ASU
20
14-0
9 is
effe
ctiv
e.
For a
ll ot
her e
ntiti
es th
at h
ave
adop
ted
ASU
201
4-09
, the
am
endm
ents
are
effe
ctiv
e fo
r fisc
al
year
s be
ginn
ing
afte
r Dec
embe
r 15
, 201
8, a
nd in
terim
per
iods
w
ithin
fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
9.
Yes
Mar
ch 2
017
EITF
Sn
apsh
ot
18
ASU
201
7-08
, Pre
miu
m
Amor
tizat
ion
on P
urch
ased
Ca
llabl
e D
ebt S
ecur
ities
(iss
ued
Mar
ch 3
0, 2
017)
Fisc
al y
ears
, and
inte
rim p
erio
ds
with
in th
ose
fisca
l yea
rs, b
egin
ning
af
ter D
ecem
ber 1
5, 2
018.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
9, a
nd in
terim
pe
riods
with
in fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
020.
Yes
April
4, 2
017,
Hea
ds
Up
ASU
201
7-07
, Im
prov
ing
the
Pres
enta
tion
of N
et P
erio
dic
Pens
ion
Cost
and
Net
Per
iodi
c Po
stre
tirem
ent B
enefi
t Cos
t (is
sued
M
arch
10,
201
7)
Annu
al p
erio
ds b
egin
ning
afte
r D
ecem
ber 1
5, 2
017,
incl
udin
g in
terim
per
iods
with
in th
ose
annu
al
perio
ds.
Annu
al p
erio
ds b
egin
ning
afte
r D
ecem
ber 1
5, 2
018,
and
inte
rim
perio
ds w
ithin
ann
ual p
erio
ds
begi
nnin
g af
ter D
ecem
ber 1
5, 2
019.
Yes
Mar
ch 1
4, 2
017,
H
eads
Up
and
Nov
embe
r 8, 2
017,
Fi
nanc
ial R
epor
ting
Aler
t
ASU
201
7-06
, Em
ploy
ee B
enefi
t Pl
an M
aste
r Tru
st R
epor
ting
— a
co
nsen
sus
of th
e FA
SB E
mer
ging
Is
sues
Tas
k Fo
rce
(issu
ed
Febr
uary
27,
201
7)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
8.Fi
scal
yea
rs b
egin
ning
afte
r D
ecem
ber 1
5, 2
018.
Yes
Nov
embe
r 201
6 EI
TF
Snap
shot
ASU
201
7-05
, Cla
rifyi
ng th
e Sc
ope
of A
sset
Der
ecog
nitio
n G
uida
nce
and
Acco
untin
g fo
r Par
tial S
ales
of
Non
finan
cial
Ass
ets
(issu
ed
Febr
uary
22,
201
7)
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
Yes
Febr
uary
28,
201
7,
Hea
ds U
p an
d A
Road
map
to A
pply
ing
the
New
Rev
enue
Re
cogn
ition
Sta
ndar
d
ASU
201
7-04
, Sim
plify
ing
the
Test
fo
r Goo
dwill
Impa
irmen
t (is
sued
Ja
nuar
y 26
, 201
7)
For P
BEs
that
are
SEC
file
rs, t
he
amen
dmen
ts in
the
ASU
are
eff
ectiv
e fo
r ann
ual a
nd in
terim
go
odw
ill im
pairm
ent t
ests
in fi
scal
ye
ars
begi
nnin
g af
ter D
ecem
ber
15, 2
019.
For
PBE
s th
at a
re n
ot
SEC
filer
s, th
e AS
U’s
amen
dmen
ts
are
effec
tive
for a
nnua
l and
inte
rim
good
will
impa
irmen
t tes
ts in
fisc
al
year
s be
ginn
ing
afte
r Dec
embe
r 15,
20
20.
Annu
al a
nd in
terim
goo
dwill
im
pairm
ent t
ests
in fi
scal
yea
rs
begi
nnin
g af
ter D
ecem
ber 1
5, 2
021.
Yes,
for i
nter
im o
r ann
ual g
oodw
ill
impa
irmen
t tes
ts p
erfo
rmed
on
test
ing
date
s af
ter J
anua
ry 1
, 201
7.
Febr
uary
1, 2
017,
H
eads
Up
ASU
201
7-01
, Cla
rifyi
ng th
e D
efini
tion
of a
Bus
ines
s (is
sued
Ja
nuar
y 5,
201
7)
Annu
al p
erio
ds b
egin
ning
afte
r D
ecem
ber 1
5, 2
017,
incl
udin
g in
terim
per
iods
with
in th
ose
annu
al
perio
ds.
Annu
al p
erio
ds b
egin
ning
afte
r D
ecem
ber 1
5, 2
018,
and
inte
rim
perio
ds w
ithin
ann
ual p
erio
ds
begi
nnin
g af
ter D
ecem
ber 1
5, 2
019.
Yes,
in c
erta
in c
ircum
stan
ces.
Janu
ary
13, 2
017,
H
eads
Up
and
A Ro
adm
ap to
Ac
coun
ting
for A
sset
Ac
quis
ition
s
ASU
201
6-20
, Tec
hnic
al
Corr
ectio
ns a
nd Im
prov
emen
ts
to T
opic
606
, Rev
enue
Fro
m
Cont
ract
s W
ith C
usto
mer
s (is
sued
Dec
embe
r 21,
201
6)
See
stat
us c
olum
n fo
r ASU
201
4-09
be
low
.Se
e st
atus
col
umn
for A
SU 2
014-
09
belo
w.
Yes
Janu
ary
5, 2
017,
jo
urna
l ent
ry
19
ASU
201
6-18
, Res
tric
ted
Cash
— a
co
nsen
sus
of th
e FA
SB E
mer
ging
Is
sues
Tas
k Fo
rce
(issu
ed
Nov
embe
r 17,
201
6)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
7, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
8, a
nd in
terim
pe
riods
with
in fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
019.
Yes
Nov
embe
r 17,
201
6,
Hea
ds U
p an
d A
Road
map
to th
e Pr
epar
atio
n of
the
Stat
emen
t of C
ash
Flow
s
ASU
201
6-16
, Int
ra-E
ntity
Tr
ansf
ers
of A
sset
s O
ther
Tha
n In
vent
ory
(issu
ed O
ctob
er 2
4,
2016
)
Annu
al re
port
ing
perio
ds b
egin
ning
af
ter D
ecem
ber 1
5, 2
017,
incl
udin
g in
terim
repo
rtin
g pe
riods
with
in
thos
e an
nual
repo
rtin
g pe
riods
.
Annu
al re
port
ing
perio
ds b
egin
ning
af
ter D
ecem
ber 1
5, 2
018,
and
in
terim
repo
rtin
g pe
riods
with
in
annu
al p
erio
ds b
egin
ning
afte
r D
ecem
ber 1
5, 2
019.
Yes
Oct
ober
25,
201
6,
Hea
ds U
p an
d A
Road
map
to
Acco
untin
g fo
r In
com
e Ta
xes
ASU
201
6-15
, Cla
ssifi
catio
n of
Ce
rtai
n Ca
sh R
ecei
pts
and
Cash
Pa
ymen
ts —
a c
onse
nsus
of t
he
FASB
Em
ergi
ng Is
sues
Tas
k Fo
rce
(issu
ed A
ugus
t 26,
201
6)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
7, in
clud
ing
inte
rim p
erio
ds w
ithin
thos
e fis
cal
year
s.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
8, a
nd in
terim
pe
riods
with
in fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
019.
Yes
Augu
st 3
0, 2
016,
H
eads
Up
and
A Ro
adm
ap to
the
Prep
arat
ion
of th
e St
atem
ent o
f Cas
h Fl
ows
ASU
201
6-14
, Pre
sent
atio
n of
Fi
nanc
ial S
tate
men
ts o
f Not
-for-
Profi
t Ent
ities
(iss
ued
Augu
st 1
8,
2016
)
Effec
tive
for a
nnua
l fina
ncia
l st
atem
ents
issu
ed fo
r fisc
al y
ears
be
ginn
ing
afte
r Dec
embe
r 15,
201
7,
and
for i
nter
im p
erio
ds w
ithin
fisc
al
year
s be
ginn
ing
afte
r Dec
embe
r 15,
20
18.
Effec
tive
for a
nnua
l fina
ncia
l st
atem
ents
issu
ed fo
r fisc
al y
ears
be
ginn
ing
afte
r Dec
embe
r 15,
201
7,
and
for i
nter
im p
erio
ds w
ithin
fisc
al
year
s be
ginn
ing
afte
r Dec
embe
r 15,
20
18.
Yes
Sept
embe
r 12,
201
6,
Hea
ds U
p
ASU
201
6-13
, Mea
sure
men
t of
Cre
dit L
osse
s on
Fin
anci
al
Inst
rum
ents
(iss
ued
June
16,
20
16) (
effec
tive
date
am
ende
d by
ASU
201
8-19
, whi
ch w
as
issu
ed o
n N
ovem
ber 1
5, 2
018)
For P
BEs
that
are
SEC
file
rs, t
he
amen
dmen
ts in
the
ASU
are
eff
ectiv
e fo
r fisc
al y
ears
beg
inni
ng
afte
r Dec
embe
r 15,
201
9, in
clud
ing
inte
rim p
erio
ds w
ithin
thos
e fis
cal y
ears
. For
all
othe
r PBE
s,
the
amen
dmen
ts in
the
ASU
are
eff
ectiv
e fo
r fisc
al y
ears
beg
inni
ng
afte
r Dec
embe
r 15,
202
0, in
clud
ing
inte
rim p
erio
ds w
ithin
thos
e fis
cal
year
s.
For a
ll ot
her e
ntiti
es, i
nclu
ding
NFP
s an
d em
ploy
ee b
enefi
t pla
ns w
ithin
th
e sc
ope
of A
SC 9
60 th
roug
h AS
C 96
5 on
pla
n ac
coun
ting,
th
e am
endm
ents
in th
e AS
U a
re
effec
tive
for fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
021,
incl
udin
g in
terim
per
iods
with
in th
ose
fisca
l ye
ars.
Yes,
as
of fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
018,
incl
udin
g in
terim
per
iods
with
in th
ose
fisca
l ye
ars.
June
17,
201
6, H
eads
U
p
ASU
201
6-12
, Rev
enue
Fro
m
Cont
ract
s W
ith C
usto
mer
s (T
opic
60
6): N
arro
w-S
cope
Impr
ovem
ents
an
d Pr
actic
al E
xped
ient
s (is
sued
M
ay 9
, 201
6)
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
Yes
May
11,
201
6, H
eads
U
p
20
ASU
201
6-11
, Rev
enue
Re
cogn
ition
(Top
ic 6
05) a
nd
Der
ivat
ives
and
Hed
ging
(Top
ic
815)
: Res
ciss
ion
of S
EC G
uida
nce
Beca
use
of A
ccou
ntin
g St
anda
rds
Upd
ates
201
4-09
and
201
4-16
Pu
rsua
nt to
Sta
ff An
noun
cem
ents
at
the
Mar
ch 3
, 201
6 EI
TF M
eetin
g (is
sued
May
2, 2
016)
Effec
tive
at th
e sa
me
time
as A
SU
2014
-09
and
ASU
201
4-16
.Eff
ectiv
e at
the
sam
e tim
e as
ASU
20
14-0
9 an
d AS
U 2
014-
16.
Yes
May
3, 2
016,
US
GAA
P Pl
us n
ews
item
ASU
201
6-10
, Ide
ntify
ing
Perfo
rman
ce O
blig
atio
ns a
nd
Lice
nsin
g (is
sued
Apr
il 14
, 201
6)
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
Yes
April
15,
201
6, H
eads
U
p
ASU
201
6-09
, Im
prov
emen
ts to
Em
ploy
ee S
hare
-Bas
ed P
aym
ent
Acco
untin
g (is
sued
Mar
ch 3
0,
2016
)
Annu
al p
erio
ds, a
nd in
terim
per
iods
w
ithin
thos
e an
nual
per
iods
, be
ginn
ing
afte
r Dec
embe
r 15,
201
6.
Annu
al p
erio
ds b
egin
ning
afte
r D
ecem
ber 1
5, 2
017,
and
inte
rim
perio
ds w
ithin
fisc
al y
ears
beg
inni
ng
afte
r Dec
embe
r 15,
201
8.
Yes
April
21,
201
6, H
eads
U
p an
d A
Road
map
to
Acc
ount
ing
for
Shar
e-Ba
sed
Paym
ent
Awar
ds
ASU
201
6-08
, Prin
cipa
l Ver
sus
Agen
t Con
sider
atio
ns (R
epor
ting
Reve
nue
Gro
ss V
ersu
s N
et) (
issu
ed
Mar
ch 1
7, 2
016)
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
Yes
Mar
ch 2
2, 2
016,
H
eads
Up
ASU
201
6-06
, Con
tinge
nt P
ut a
nd
Call
Opt
ions
in D
ebt I
nstr
umen
ts —
a
cons
ensu
s of
the
FASB
Em
ergi
ng Is
sues
Tas
k Fo
rce
(issu
ed M
arch
14,
201
6)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
6, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
7, a
nd in
terim
pe
riods
with
in fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
018.
Yes
Mar
ch 1
6, 2
016,
H
eads
Up
ASU
201
6-05
, Effe
ct o
f Der
ivat
ive
Cont
ract
Nov
atio
ns o
n Ex
istin
g H
edge
Acc
ount
ing
Rela
tions
hips
—
a co
nsen
sus
of th
e FA
SB
Emer
ging
Issu
es T
ask
Forc
e (is
sued
Mar
ch 1
0, 2
016)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
6, a
nd in
terim
pe
riods
with
in th
ose
fisca
l yea
rs.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
7, a
nd in
terim
pe
riods
with
in fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
018.
Yes
Mar
ch 1
6, 2
016,
H
eads
Up
ASU
201
6-04
, Rec
ogni
tion
of
Brea
kage
for C
erta
in P
repa
id
Stor
ed-V
alue
Pro
duct
s —
a
cons
ensu
s of
the
FASB
Em
ergi
ng
Issu
es T
ask
Forc
e (is
sued
Mar
ch
8, 2
016)
Effec
tive
for P
BEs,
cer
tain
NFP
s, a
nd
cert
ain
empl
oyee
ben
efit p
lans
for
finan
cial
sta
tem
ents
issu
ed fo
r fisc
al
year
s be
ginn
ing
afte
r Dec
embe
r 15,
20
17, a
nd in
terim
per
iods
with
in
thos
e fis
cal y
ears
.
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
8, a
nd in
terim
pe
riods
with
in fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
019.
Yes
Mar
ch 1
6, 2
016,
H
eads
Up
21
ASU
201
6-02
, Lea
ses
(issu
ed
Febr
uary
25,
201
6)Eff
ectiv
e fo
r fisc
al y
ears
beg
inni
ng
afte
r Dec
embe
r 15,
201
8, in
clud
ing
inte
rim p
erio
ds w
ithin
thos
e fis
cal
year
s, fo
r any
of t
he fo
llow
ing:
• PB
Es.
• N
FPs
that
hav
e is
sued
, or a
re
a co
ndui
t bon
d ob
ligor
for,
secu
ritie
s th
at a
re tr
aded
, lis
ted,
or q
uote
d on
an
exch
ange
or a
n ov
er-th
e-co
unte
r mar
ket.
• Em
ploy
ee b
enefi
t pla
ns th
at
file
finan
cial
sta
tem
ents
with
th
e SE
C.
For a
ll ot
her e
ntiti
es, t
he
amen
dmen
ts in
the
ASU
are
eff
ectiv
e fo
r fisc
al y
ears
beg
inni
ng
afte
r Dec
embe
r 15,
201
9, a
nd
inte
rim p
erio
ds w
ithin
fisc
al y
ears
be
ginn
ing
afte
r Dec
embe
r 15,
202
0.
Yes
Mar
ch 1
, 201
6,
(upd
ated
July
12,
20
16) a
nd A
pril
25, 2
017,
Hea
ds U
p ne
wsl
ette
rs
ASU
201
6-01
, Rec
ogni
tion
and
Mea
sure
men
t of F
inan
cial
Ass
ets
and
Fina
ncia
l Lia
bilit
ies
(issu
ed
Janu
ary
5, 2
016)
Fisc
al y
ears
beg
inni
ng a
fter
Dec
embe
r 15,
201
7, in
clud
ing
inte
rim p
erio
ds w
ithin
thos
e fis
cal
year
s.
For a
ll ot
her e
ntiti
es, i
nclu
ding
NFP
s an
d em
ploy
ee b
enefi
t pla
ns w
ithin
th
e sc
ope
of A
SC 9
60 th
roug
h AS
C 96
5 on
pla
n ac
coun
ting,
th
e am
endm
ents
in th
e AS
U a
re
effec
tive
for fi
scal
yea
rs b
egin
ning
af
ter D
ecem
ber 1
5, 2
018,
and
in
terim
per
iods
with
in fi
scal
yea
rs
begi
nnin
g af
ter D
ecem
ber 1
5, 2
019.
Cert
ain
prov
isio
ns o
nly.
Janu
ary
12, 2
016,
H
eads
Up
ASU
201
5-17
, Bal
ance
She
et
Clas
sifica
tion
of D
efer
red
Taxe
s (is
sued
Nov
embe
r 20,
201
5)
Annu
al p
erio
ds b
egin
ning
afte
r D
ecem
ber 1
5, 2
016,
and
inte
rim
perio
ds w
ithin
thos
e an
nual
per
iods
.
Annu
al p
erio
ds b
egin
ning
afte
r D
ecem
ber 1
5, 2
017,
and
inte
rim
perio
ds w
ithin
ann
ual p
erio
ds
begi
nnin
g af
ter D
ecem
ber 1
5, 2
018.
Yes
Nov
embe
r 30,
201
5,
Hea
ds U
p
ASU
201
5-14
, Rev
enue
Fro
m
Cont
ract
s W
ith C
usto
mer
s (T
opic
60
6): D
efer
ral o
f the
Effe
ctiv
e D
ate
(issu
ed A
ugus
t 12,
201
5)
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
See
effec
tive
date
info
rmat
ion
for
ASU
201
4-09
bel
ow.
Yes
Augu
st 1
3, 2
015,
jo
urna
l ent
ry
22
ASU
201
4-09
, Rev
enue
Fro
m
Cont
ract
s W
ith C
usto
mer
s (is
sued
on
May
28,
201
4; e
ffect
ive
date
am
ende
d by
ASU
201
5-14
, whi
ch
was
issu
ed o
n Au
gust
12,
201
5)
For P
BEs,
cer
tain
NFP
s, a
nd c
erta
in
empl
oyee
ben
efit p
lans
, the
ASU
is
effe
ctiv
e fo
r ann
ual r
epor
ting
perio
ds (i
nclu
ding
inte
rim re
port
ing
perio
ds w
ithin
thos
e pe
riods
) be
ginn
ing
afte
r Dec
embe
r 15,
201
7.
Annu
al re
port
ing
perio
ds b
egin
ning
af
ter D
ecem
ber 1
5, 2
018,
and
in
terim
repo
rtin
g pe
riods
with
in
annu
al re
port
ing
perio
ds b
egin
ning
af
ter D
ecem
ber 1
5, 2
019.
For P
BEs,
cer
tain
NFP
s, a
nd c
erta
in
empl
oyee
ben
efit p
lans
, ear
ly
appl
icat
ion
is p
erm
itted
onl
y as
of
annu
al re
port
ing
perio
ds (i
nclu
ding
in
terim
repo
rtin
g pe
riods
with
in
thos
e pe
riods
) beg
inni
ng a
fter
Dec
embe
r 15,
201
6.
All o
ther
ent
ities
may
app
ly th
e AS
U e
arly
as
of a
n an
nual
repo
rtin
g pe
riod
begi
nnin
g af
ter D
ecem
ber
15, 2
016,
incl
udin
g in
terim
re
port
ing
perio
ds w
ithin
that
re
port
ing
perio
d. A
ll ot
her e
ntiti
es
also
may
app
ly th
e gu
idan
ce in
the
ASU
ear
ly a
s of
an
annu
al re
port
ing
perio
d be
ginn
ing
afte
r Dec
embe
r 15
, 201
6, a
nd in
terim
repo
rtin
g pe
riods
with
in a
nnua
l rep
ortin
g pe
riods
beg
inni
ng o
ne y
ear a
fter
the
annu
al re
port
ing
perio
d in
w
hich
the
entit
y fir
st a
pplie
s th
e gu
idan
ce in
the
ASU
.
A Ro
adm
ap to
Ap
plyi
ng th
e N
ew
Reve
nue
Reco
gniti
on
Stan
dard
May
28,
201
4;
Janu
ary
22, 2
018;
an
d Ap
ril 1
1, 2
018,
H
eads
Up
new
slet
ters
PCA
OB
Effec
tive
Dat
e fo
r PB
EsEa
rly
Ado
ptio
n A
llow
ed (Y
es/N
o)D
eloi
tte
Reso
urce
s
Fina
l Gui
danc
e
Rele
ase
2018
-006
, Am
endm
ents
to
Aud
iting
Sta
ndar
ds fo
r Aud
itor’s
U
se o
f the
Wor
k of
Spe
cial
ists
(issu
ed D
ecem
ber 2
0, 2
018)
Prov
ided
that
they
are
app
rove
d by
the
SEC,
the
amen
dmen
ts a
re
effec
tive
for fi
nanc
ial s
tate
men
t au
dits
for fi
scal
yea
rs e
ndin
g on
or
afte
r Dec
embe
r 15,
202
0.
No
Janu
ary
16, 2
019,
Au
dit &
Ass
uran
ce
Upd
ate
Rele
ase
2018
-005
, Aud
iting
Ac
coun
ting
Estim
ates
, Inc
ludi
ng
Fair
Valu
e M
easu
rem
ents
— a
nd
Amen
dmen
ts to
PCA
OB
Audi
ting
Stan
dard
s (is
sued
Dec
embe
r 20,
20
18)
Prov
ided
that
they
are
app
rove
d by
the
SEC,
the
new
sta
ndar
d an
d am
endm
ents
are
effe
ctiv
e fo
r fin
anci
al s
tate
men
t aud
its fo
r fisc
al
year
s en
ding
on
or a
fter D
ecem
ber
15, 2
020.
No
Janu
ary
16, 2
019,
Au
dit &
Ass
uran
ce
Upd
ate
23
Rele
ase
2017
-001
, The
Aud
itor’s
Re
port
on
an A
udit
of F
inan
cial
St
atem
ents
Whe
n th
e Au
dito
r Ex
pres
ses
an U
nqua
lified
Opi
nion
an
d Re
late
d Am
endm
ents
to
PCAO
B St
anda
rds
(issu
ed Ju
ne 1
, 20
17, a
nd a
ppro
ved
by th
e SE
C on
Oct
ober
23,
201
7)
Effec
tive
for a
udits
of fi
scal
yea
rs
endi
ng o
n or
afte
r Dec
embe
r 15,
20
17, e
xcep
t for
the
para
grap
hs in
th
e cr
itica
l aud
it m
atte
rs’ s
ectio
n,
whi
ch a
re e
ffect
ive
for a
udits
of
larg
e ac
cele
rate
d fil
ers
for fi
scal
ye
ars
endi
ng o
n or
afte
r Jun
e 30
, 20
19, a
nd f
or a
udits
of a
ll ot
her
com
pani
es fo
r fisc
al y
ears
end
ing
on
or a
fter D
ecem
ber 1
5, 2
020.
Yes
June
20,
201
7, H
eads
U
p
AIC
PA
Effec
tive
Dat
e fo
r N
on-P
BEs
Del
oitt
e Re
sour
ces
Fina
l Gui
danc
e
SAS
133,
Aud
itor I
nvol
vem
ent
With
Exe
mpt
Offe
ring
Doc
umen
ts
(issu
ed Ju
ly 2
8, 2
017)
Effec
tive
for e
xem
pt o
fferin
g do
cum
ents
with
whi
ch th
e au
dito
r is
invo
lved
that
are
initi
ally
dis
trib
uted
, ci
rcul
ated
, or s
ubm
itted
on
or a
fter
June
15,
201
8.
Febr
uary
23,
201
7,
US
GAA
P Pl
us n
ews
item
SEC
Effec
tive
Dat
eD
eloi
tte
Reso
urce
s
Fina
l Gui
danc
e
Staff
Acc
ount
ing
Bulle
tin N
o. 1
18
(issu
ed D
ecem
ber 2
2, 2
017)
Dat
e of
pub
licat
ion
in th
e Fe
dera
l Re
gist
er.
Dec
embe
r 22,
201
7,
US
GAA
P Pl
us n
ews
item
and
Janu
ary
3, 2
018,
Fin
anci
al
Repo
rtin
g Al
ert
(upd
ated
Aug
ust 3
0,
2018
)
Staff
Acc
ount
ing
Bulle
tin N
o. 1
17
(issu
ed N
ovem
ber 2
9, 2
017)
Janu
ary
11, 2
018.
Nov
embe
r 30,
201
7,
US
GAA
P Pl
us n
ews
item
Staff
Acc
ount
ing
Bulle
tin N
o. 1
16
(issu
ed A
ugus
t 18,
201
7)Au
gust
29,
201
7.Au
gust
22,
201
7,
jour
nal e
ntry
Fina
l Rul
e, F
AST
Act M
oder
niza
tion
and
Sim
plifi
catio
n of
Reg
ulat
ion
S-K
(33-
1061
8) (i
ssue
d M
arch
20,
20
19)
30 d
ays
afte
r dat
e of
pub
licat
ion
in
the
Fede
ral R
egist
er.
Mar
ch 2
1, 2
019,
US
GAA
P Pl
us n
ews
item
and
Mar
ch 2
5,
2019
, Hea
ds U
p
Fina
l Rul
e, A
dopt
ion
of U
pdat
ed
EDG
AR F
iler M
anua
l (33
-106
15)
(issu
ed M
arch
12,
201
9)
Dat
e of
pub
licat
ion
in th
e Fe
dera
l Re
gist
er.
Mar
ch 1
2, 2
019,
US
GAA
P Pl
us n
ews
item
24
Fina
l Rul
e, D
isclo
sure
of H
edgi
ng
by E
mpl
oyee
s, O
ffice
rs a
nd
Dire
ctor
s (3
3-10
593)
(iss
ued
Dec
embe
r 20,
201
8)
Mar
ch 8
, 201
9.D
ecem
ber 1
9, 2
018,
U
S G
AAP
Plus
new
s ite
m
Fina
l Rul
e, T
rans
actio
n Fe
e Pi
lot
for N
MS
Stoc
ks (3
4-84
875)
(is
sued
Dec
embe
r 19,
201
8)
April
22,
201
9.D
ecem
ber 2
1, 2
018,
U
S G
AAP
Plus
new
s ite
m
Fina
l Rul
e, A
men
dmen
ts to
Re
gula
tion
A (3
3-10
591)
(iss
ued
Dec
embe
r 19,
201
8)
Janu
ary
31, 2
019.
Dec
embe
r 21,
201
8,
US
GAA
P Pl
us n
ews
item
Fina
l Rul
e, A
pplic
atio
ns b
y Se
curit
y-Ba
sed
Swap
Dea
lers
or
Maj
or S
ecur
ity-B
ased
Sw
ap
Part
icip
ants
for S
tatu
toril
y D
isqua
lified
Ass
ocia
ted
Pers
ons
to
Effec
t or B
e In
volv
ed in
Effe
ctin
g Se
curit
y-Ba
sed
Swap
s (3
4-84
858)
(is
sued
Dec
embe
r 19,
201
8)
April
22,
201
9.D
ecem
ber 2
1, 2
018,
U
S G
AAP
Plus
new
s ite
m
Fina
l Rul
e, A
dopt
ion
of U
pdat
ed
EDG
AR F
iler M
anua
l (33
-105
85)
(issu
ed D
ecem
ber 1
4, 2
018)
Dec
embe
r 26,
201
8.D
ecem
ber 1
8, 2
018,
U
S G
AAP
Plus
new
s ite
m
Fina
l Rul
e, C
over
ed In
vest
men
t Fu
nd R
esea
rch
Repo
rts
(33-
1058
0)
(issu
ed N
ovem
ber 3
0, 2
018)
Janu
ary
14, 2
019.
Dec
embe
r 3, 2
018,
U
S G
AAP
Plus
new
s ite
m
Fina
l Rul
e, F
orm
N-1
A; C
orre
ctio
n (3
3-10
577)
(iss
ued
Nov
embe
r 29
, 201
8)
Dec
embe
r 4, 2
018.
Fina
l Rul
e, R
egul
atio
n of
NM
S St
ock
Alte
rnat
ive
Trad
ing
Syst
ems
(34-
8454
1) (i
ssue
d N
ovem
ber 6
, 20
18)
Nov
embe
r 13,
201
8.
Fina
l Rul
e, D
isclo
sure
of O
rder
H
andl
ing
Info
rmat
ion
(34-
8452
8)
(issu
ed N
ovem
ber 2
, 201
8)
Janu
ary
18, 2
019.
Nov
embe
r 5, 2
018,
U
S G
AAP
Plus
new
s ite
m
Fina
l Rul
e, M
oder
niza
tion
of
Prop
erty
Disc
losu
res
for M
inin
g Re
gist
rant
s (3
3-10
570)
(iss
ued
Oct
ober
31,
201
8)
60 d
ays
afte
r pub
licat
ion
in th
e Fe
dera
l Reg
ister
.N
ovem
ber 1
, 201
8,
US
GAA
P Pl
us n
ews
item
Fina
l Rul
e, A
dopt
ion
of U
pdat
ed
EDG
AR F
iler M
anua
l (33
-105
66A)
(is
sued
Oct
ober
1, 2
018)
Nov
embe
r 5, 2
018.
Oct
ober
2, 2
018,
U
S G
AAP
Plus
new
s ite
m
25
Fina
l Rul
e, D
eleg
atio
n of
Aut
horit
y to
Gen
eral
Cou
nsel
of t
he
Com
miss
ion
(33-
1053
7) (i
ssue
d Au
gust
22,
201
8)
Augu
st 3
1, 2
018.
Fina
l Rul
e, A
men
dmen
ts to
M
unic
ipal
Sec
uriti
es D
isclo
sure
(3
4-83
885)
(iss
ued
Augu
st 2
0,
2018
)
Oct
ober
30,
201
8.Au
gust
24,
201
8, U
S G
AAP
Plus
new
s ite
m
Fina
l Rul
e, D
isclo
sure
Upd
ate
and
Sim
plifi
catio
n (3
3-10
532)
(iss
ued
Augu
st 1
7, 2
018)
Nov
embe
r 5, 2
018.
Augu
st 2
8, 2
018,
H
eads
Up
and
Sept
embe
r 11,
201
8,
Fina
ncia
l Rep
ortin
g Al
ert (
upda
ted
Oct
ober
1, 2
018)
Fina
l Rul
e, R
egul
atio
n of
NM
S St
ock
Alte
rnat
ive
Trad
ing
Syst
ems
(34-
8366
3) (i
ssue
d Ju
ly 1
8, 2
018)
Oct
ober
9, 2
018.
July
18,
201
8, U
S G
AAP
Plus
new
s ite
m
Fina
l Rul
e, E
xem
pt O
fferin
gs
Purs
uant
to C
ompe
nsat
ory
Arra
ngem
ents
(33-
1052
0) (i
ssue
d Ju
ly 1
8, 2
018)
July
23,
201
8.Ju
ly 1
8, 2
018,
US
GAA
P Pl
us n
ews
item
Fina
l Rul
e, A
dopt
ion
of U
pdat
ed
EDG
AR F
iler M
anua
l (33
-105
18)
(issu
ed Ju
ly 1
0, 2
018)
July
17,
201
8.Ju
ly 9
, 201
8, U
S G
AAP
Plus
new
s ite
m
Fina
l Rul
e, A
men
dmen
ts to
Sm
alle
r Re
port
ing
Com
pany
Defi
nitio
n (3
3-10
513)
(iss
ued
June
28,
20
18)
Sept
embe
r 10,
201
8.Ju
ne 2
8, 2
018,
US
GAA
P Pl
us n
ews
item
Fina
l Rul
e, In
line
XBRL
Fili
ng o
f Ta
gged
Dat
a (3
3-10
514)
(iss
ued
June
28,
201
8)
Sept
embe
r 17,
201
8.Ju
ne 2
8, 2
018,
US
GAA
P Pl
us n
ews
item
Fina
l Rul
e, In
vest
men
t Com
pany
Li
quid
ity D
isclo
sure
(IC-
3314
2)
(issu
ed Ju
ne 2
8, 2
018)
Sept
embe
r 10,
201
8.Ju
ne 2
8, 2
018,
US
GAA
P Pl
us n
ews
item
Fina
l Rul
e, A
men
dmen
ts to
th
e Co
mm
issio
n’s
Free
dom
of
Info
rmat
ion
Act R
egul
atio
ns
(34-
8350
6) (i
ssue
d Ju
ne 2
5,
2018
)
July
30,
201
8.Ju
ne 2
6, 2
018,
US
GAA
P Pl
us n
ews
item
26
Fina
l Rul
e, O
ptio
nal I
nter
net
Avai
labi
lity
of In
vest
men
t Com
pany
Sh
areh
olde
r Rep
orts
(33-
1050
6)
(issu
ed Ju
ne 5
, 201
8)
Janu
ary
1, 2
019.
June
5, 2
018,
US
GAA
P Pl
us n
ews
item
Fina
l Rul
e, T
echn
ical
Am
endm
ents
to
Rul
es o
f Pra
ctic
e an
d Ru
les
of
Org
aniz
atio
n; C
ondu
ct a
nd E
thic
s; an
d In
form
atio
n an
d Re
ques
ts
(34-
8332
5) (i
ssue
d M
ay 2
4, 2
018)
June
1, 2
018.
Fina
l Rul
e, A
men
dmen
ts to
For
ms
and
Sche
dule
s to
Rem
ove
Prov
ision
of
Cer
tain
Per
sona
lly Id
entifi
able
In
form
atio
n (3
3-10
486)
(iss
ued
April
25,
201
8)
May
14,
201
8.Ap
ril 2
5, 2
018,
US
GAA
P Pl
us n
ews
item
Fina
l Rul
e, In
vest
men
t Com
pany
Re
port
ing
Mod
erni
zatio
n (3
3-10
442)
(iss
ued
Dec
embe
r 8,
2017
)
Janu
ary
16, 2
018,
to M
arch
31,
202
6.D
ecem
ber 8
, 201
7,
US
GAA
P Pl
us n
ews
item
Fina
l Rul
e, In
vest
men
t Com
pany
Sw
ing
Pric
ing
(33-
1023
4) (i
ssue
d O
ctob
er 1
3, 2
016)
Nov
embe
r 19,
201
8.O
ctob
er 1
3, 2
016,
U
S G
AAP
Plus
new
s ite
m
Fina
l Rul
e, D
isclo
sure
of P
aym
ents
by
Res
ourc
e Ex
trac
tion
Issue
rs
(34-
7816
7) (i
ssue
d Ju
ne 2
7,
2016
)
Sept
embe
r 26,
201
6. C
ompl
ianc
e da
te: f
or fi
scal
yea
rs e
ndin
g on
or
afte
r Sep
tem
ber 3
0, 2
018.
June
30,
201
6,
jour
nal e
ntry
IASB
/IFR
ICEff
ecti
ve D
ate
Earl
y A
dopt
ion
(Yes
/No)
Del
oitt
e Re
sour
ces
Fina
l Gui
danc
e
Defi
nitio
n of
Mat
eria
l — a
men
dmen
ts
to IA
S 1
and
IAS
8 (is
sued
Oct
ober
31,
20
18)
Annu
al p
erio
ds b
egin
ning
on
or a
fter
Janu
ary
1, 2
020.
Yes
Nov
embe
r 13,
201
8,
IFRS
in F
ocus
Defi
nitio
n of
a B
usin
ess
—
amen
dmen
ts to
IFRS
3 (O
ctob
er 2
2,
2018
)
Annu
al p
erio
ds b
egin
ning
on
or a
fter
Janu
ary
1, 2
020.
Yes
Oct
ober
24,
201
8,
IFRS
in F
ocus
Amen
dmen
ts to
Ref
eren
ces
to th
e Co
ncep
tual
Fra
mew
ork
in IF
RS
Stan
dard
s (is
sued
Mar
ch 2
9, 2
018)
Annu
al re
port
ing
perio
ds b
egin
ning
on
or a
fter J
anua
ry 1
, 202
0.Ye
sM
ay 1
4, 2
018,
IFRS
in
Focu
s
Plan
Am
endm
ent,
Curt
ailm
ent o
r Se
ttlem
ent —
am
endm
ents
to IA
S 19
(is
sued
Feb
ruar
y 7,
201
8)
Annu
al p
erio
ds b
egin
ning
on
or a
fter
Janu
ary
1, 2
019.
Yes
Mar
ch 1
, 201
8, IF
RS
in F
ocus
27
Annu
al Im
prov
emen
ts to
IFRS
St
anda
rds
2015
–201
7 Cy
cle
(issu
ed
Dec
embe
r 12,
201
7)
Annu
al p
erio
ds b
egin
ning
on
or a
fter
Janu
ary
1, 2
019.
Yes
Mar
ch 1
, 201
8, IF
RS
in F
ocus
Long
-term
Inte
rest
s in
Ass
ocia
tes
and
Join
t Ven
ture
s —
am
endm
ents
to IA
S 28
(iss
ued
Oct
ober
12,
201
7)
Annu
al re
port
ing
perio
ds b
egin
ning
on
or a
fter J
anua
ry 1
, 201
9.Ye
sO
ctob
er 1
9, 2
017,
IF
RS in
Foc
us
Prep
aym
ent F
eatu
res
With
Neg
ativ
e Co
mpe
nsat
ion
— a
men
dmen
ts to
IFRS
9
(issu
ed O
ctob
er 1
2, 2
017)
Annu
al re
port
ing
perio
ds b
egin
ning
on
or a
fter J
anua
ry 1
, 201
9.Ye
sO
ctob
er 1
9, 2
017,
IF
RS in
Foc
us
IFRI
C 23
, Unc
erta
inty
Ove
r Inc
ome
Tax
Trea
tmen
ts (i
ssue
d Ju
ne 7
, 201
7)An
nual
repo
rtin
g pe
riods
beg
inni
ng
on o
r afte
r Jan
uary
1, 2
019.
Yes
June
7, 2
017,
IFRS
in
Focu
s
IFRS
17,
Insu
ranc
e Co
ntra
cts
(issu
ed
May
18,
201
7)An
nual
repo
rtin
g pe
riods
beg
inni
ng
on o
r afte
r Jan
uary
1, 2
021.
Ye
s, fo
r ent
ities
that
app
ly IF
RS 9
an
d IF
RS 1
5.M
ay 1
8, 2
017,
IFRS
in
Focu
s
Tran
sfer
s of
Inve
stm
ent P
rope
rty
—
amen
dmen
ts to
IAS
40 (i
ssue
d D
ecem
ber 8
, 201
6)
Annu
al p
erio
ds b
egin
ning
on
or a
fter
Janu
ary
1, 2
018.
Ye
sD
ecem
ber 1
9, 2
016,
IF
RS in
Foc
us
Annu
al Im
prov
emen
ts to
IFRS
s: 20
14–2
016
Cycl
e (is
sued
Dec
embe
r 8,
201
6)
Annu
al p
erio
ds b
egin
ning
on
or
afte
r Jan
uary
1, 2
018,
exc
ept t
he
amen
dmen
t to
IFRS
12,
whi
ch
is e
ffect
ive
for a
nnua
l per
iods
be
ginn
ing
on o
r afte
r Jan
uary
1, 2
017.
Yes,
for c
erta
in a
men
dmen
ts.
Dec
embe
r 19,
201
6,
IFRS
in F
ocus
IFRI
C 22
, For
eign
Cur
renc
y Tr
ansa
ctio
ns
and
Adva
nce
Cons
ider
atio
n (is
sued
D
ecem
ber 8
, 201
6)
Annu
al re
port
ing
perio
ds b
egin
ning
on
or a
fter J
anua
ry 1
, 201
8.Ye
sD
ecem
ber 1
9, 2
016,
IF
RS in
Foc
us
Appl
ying
IFRS
9 F
inan
cial
Inst
rum
ents
W
ith IF
RS 4
Insu
ranc
e Co
ntra
cts
—
amen
dmen
ts to
IFRS
4 (i
ssue
d Se
ptem
ber 1
2, 2
016)
At th
e sa
me
time
as IF
RS 9
.At
the
sam
e tim
e as
IFRS
9.
Sept
embe
r 21,
201
6,
IFRS
in F
ocus
Clas
sifica
tion
and
Mea
sure
men
t of
Shar
e-Ba
sed
Paym
ent T
rans
actio
ns —
am
endm
ents
to IF
RS 2
(iss
ued
June
20
, 201
6)
Annu
al p
erio
ds b
egin
ning
on
or a
fter
Janu
ary
1, 2
018.
Ye
sJu
ne 2
8, 2
016,
IFRS
in
Focu
s
Clar
ifica
tions
to IF
RS 1
5 (is
sued
Apr
il 12
, 201
6)At
the
sam
e tim
e as
IFRS
15.
Yes
April
20,
201
6, IF
RS in
Fo
cus
IFRS
16,
Lea
ses
(issu
ed Ja
nuar
y 12
, 20
16)
Annu
al p
erio
ds b
egin
ning
on
or a
fter
Janu
ary
1, 2
019.
Ye
sM
ay 2
8, 2
015,
IFRS
in
Focu
s
IFRS
9, F
inan
cial
Inst
rum
ents
(iss
ued
July
24,
201
4)An
nual
per
iods
beg
inni
ng o
n or
afte
r Ja
nuar
y 1,
201
8.Ye
sJu
ly 2
9, 2
014,
IFRS
in
Focu
s
IFRS
15,
Rev
enue
Fro
m C
ontr
acts
With
Cu
stom
ers
(issu
ed M
ay 2
8, 2
014)
Annu
al p
erio
ds b
egin
ning
on
or a
fter
Janu
ary
1, 2
018.
Yes
May
28,
201
4, IF
RS in
Fo
cus
28
Appendix B: Current Status of FASB ProjectsThis appendix summarizes the current status and next steps for the FASB’s active standard-setting projects (excluding research initiatives).
Project Status and Next Steps Deloitte Resources
Recognition and Measurement Projects
Codification improvements
GeneralThe FASB has a standing project on its agenda to make regular updates and improvements to the Codification (e.g., technical corrections and clarifications).
Financial instrumentsOn November 19, 2018, the FASB issued a proposed ASU that would amend the guidance related to credit losses, hedging, and recognition and measurement of financial instruments. Comments were due by January 18, 2019. The FASB expects to issue a final ASU in the first quarter of 2019.
Further, the FASB is developing a proposed ASU on credit loss vintage disclosure and is in the initial stage of deliberating Codification improvements related to hedge accounting.
LessorsOn March 5, 2019, the FASB issued ASU 2019-01, which addresses the determination of fair value by lessors that are not manufacturers or dealers and cash flow statement presentation of sales-type and direct financing leases.
Share-Based Consideration Payable to a CustomerOn March 4, 2019, the FASB issued a proposed ASU that would clarify that share-based payments made as consideration payable to a customer should be measured and classified in accordance with ASC 718. Comments are due by April 18, 2019.
Journal Entry — FASB Issues Codification Improvements to New Leasing Standard (March 7, 2019)
Heads Up — FASB Issues Proposed ASU to Address the Accounting for Share-Based Payments Issued as Sales Incentives to Customers (March 5, 2019)
Consolidation reorganization and targeted improvements
On September 20, 2017, the FASB issued a proposed ASU that would reorganize the consolidation guidance in ASC 810 by dividing it into separate subtopics for voting interest entities and variable interest entities (VIEs). The new subtopics would be included in a new topic, ASC 812, which would supersede ASC 810. Comments on the proposal were due by December 4, 2017. On June 27, 2018, the FASB decided to continue the project.
Heads Up — FASB Proposes to Reorganize Its Consolidation Guidance (October 5, 2017)
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Distinguishing liabilities from equity (including convertible debt)
The FASB added this project to its technical agenda on September 20, 2017. On June 6, 2018, the Board decided to research an accounting model in which convertible instruments with embedded conversion features would be treated as a single unit of account unless the embedded conversion feature must be bifurcated as a derivative. On February 13, 2019, the Board decided to relax the equity classification conditions in ASC 815-40.
Journal Entry — FASB Decides to Relax Equity Classification Conditions (February 15, 2019)
Extending private- company accounting alternatives on certain identifiable intangible assets and goodwill to NFP entities
On December 20, 2018, the FASB issued a proposed ASU that would extend the amendments in ASU 2014-02 and 2014-18 to NFP entities. Comments were due by February 18, 2019.
Journal Entry — FASB Issues Proposed ASU Extending Private Company Accounting Alternatives on Goodwill and Intangible Assets to Not-for-Profit Entities (January 3, 2019)
Financial instruments — credit losses: targeted transition relief
On February 6, 2019, the FASB issued a proposed ASU that would allow entities, upon adoption of ASC 326, to irrevocably elect the fair value option for financial assets within the scope of ASC 326-20 on an instrument-by-instrument basis. Comments were due by March 8, 2019.
Heads Up — FASB Proposes to Ease Transition to the Credit Losses Standard (February 11, 2019)
Hedging: last-of-layer method
On March 28, 2018, the FASB decided to add a narrow-scope project to address the accounting for last-of-layer basis adjustments and hedging multiple layers under the last of layer method in accordance with ASU 2017-12.
Journal Entry — Hedging — FASB Discusses Feedback on Key Implementation Issues (April 10, 2018)
Identifiable intangible assets and subsequent accounting for goodwill
On October 24, 2018, the FASB added this project to its technical agenda and directed the staff to draft an Invitation to Comment.
Improvements to accounting for episodic television series (EITF Issue 18-B)
On March 6, 2019, the FASB issued ASU 2019-02, which aligns the accounting for production costs associated with episodic television series with that for films and amends certain related impairment, presentation, and disclosure requirements.
EITF Snapshot (January 2019)
Improving the accounting for asset acquisitions and business combinations
On August 2, 2017, the FASB tentatively decided that this project should (1) address differences between the accounting for acquisitions of assets and that for acquisitions of businesses and (2) focus on the accounting for transaction costs, in-process research and development, and contingent consideration. On May 8, 2018, the FASB discussed how certain aspects of the accounting for asset acquisitions could be aligned with those for business combinations.
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Recognition under ASC 805 for an assumed liability in a revenue contract (EITF Issue 18-A)
On February 14, 2019, the FASB issued a proposed ASU that would address the recognition of an assumed liability in a revenue contract acquired in a business combination. Simultaneously, the FASB released an invitation to comment on related issues. Comments on either document are due by April 30, 2019.
EITF Snapshot (September 2018)
Reference rate reform: Facilitation of the effects of the LIBOR-to-SOFR transition on financial reporting
On August 29, 2018, the FASB added a project to its agenda to consider changes to GAAP necessitated by the market-wide transition from LIBOR to SOFR, with the objective of facilitating the transition.
Updating the definition of collections
On March 21, 2019, the FASB issued ASU 2019-03, which updates the definition of collections in the ASC master glossary.
Presentation and Disclosure Projects
Disclosure framework: disclosure review —income taxes
On July 26, 2016, the FASB issued a proposed ASU that would modify existing and add new income tax disclosure requirements. Comments on the proposed ASU were due by September 30, 2016. On March 25, 2019, the FASB issued a revised proposed ASU on this topic; comments are due by May 31, 2019.
Journal Entry — FASB Discusses Feedback on Proposed Disclosure Requirements Related to Income Taxes (November 20, 2018)
Disclosure framework: disclosure review — inventory
On January 10, 2017, the FASB issued a proposed ASU that would modify or eliminate certain disclosure requirements related to inventory and establish new requirements. Comments on the proposed ASU were due by March 13, 2017. On June 21, 2017, the Board discussed a summary of comments received.
Heads Up — FASB Proposes Updates to Inventory Disclosures (January 12, 2017)
Disclosure framework: disclosures — interim reporting
At its May 28, 2014, meeting, the FASB decided to amend ASC 270 “to reflect that disclosures about matters required to be set forth in annual financial statements should be provided on an updated basis in the interim report if there is a substantial likelihood that the updated information would be viewed by a reasonable investor as significantly altering the ’total mix’ of information available to the investor.” On July 11, 2018, the Board directed the staff to develop principles for interim disclosure.
Disclosure improvements in response to SEC’s release on disclosure update and simplification
On March 6, 2019, the FASB decided to add to its agenda a project addressing disclosures referred to the Board as part of the SEC’s disclosure update and simplification initiative. The FASB expects to issue a proposed ASU on this topic in the second quarter of 2019.
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Disclosures by business entities about government assistance
On November 12, 2015, the FASB issued a proposed ASU that would require specific disclosures about government assistance received by businesses. Comments on the proposed ASU were due by February 10, 2016. The FASB most recently discussed this project on February 27, 2019.
Journal Entry — FASB Begins Redeliberating Project on Business Entities’ Disclosures About Government Assistance (June 14, 2016)
Heads Up — FASB Proposes ASU to Increase Transparency of Accounting for Government Assistance Arrangements (November 20, 2015)
Financial performance reporting: disaggregation of performance information
The FASB added this project to its technical agenda on September 20, 2017, “to focus on the disaggregation of performance information either through presentation in the statement of income or disclosure in the notes.” The FASB most recently discussed this project on December 18, 2018.
Segment reporting The FASB added this project to its technical agenda on September 20, 2017. The purpose of the project is to improve “the aggregation criteria and segment disclosures.” The FASB most recently discussed this project on February 13, 2019.
A Roadmap to Segment Reporting
Simplifying the balance sheet classification of debt
On January 10, 2017, the FASB issued a proposed ASU that would reduce the complexity of determining whether debt should be classified as current or noncurrent in a classified balance sheet. Comments on the proposal were due by May 5, 2017. The FASB most recently discussed this project on March 20, 2019, when it decided to issue another proposed ASU.
Journal Entry — FASB Addresses Sweep Issues Related to Simplifying the Balance Sheet Classification of Debt (August 24, 2018)
Journal Entry — FASB Concludes Redeliberations on Simplifying the Balance Sheet Classification of Debt (Current Versus Noncurrent) (September 15, 2017)
Heads Up — FASB Proposes Changes to Simplify the Balance Sheet Classification of Debt (January 12, 2017)
Framework Projects
Conceptual framework PresentationOn August 11, 2016, the FASB issued a proposed concepts statement that would add a new chapter on presentation of financial statement information to the conceptual framework. Comments were due by November 9, 2016. On May 3, 2017, the FASB discussed feedback received.
MeasurementOn June 18, 2014, the Board decided to begin developing concepts related to measurement. The Board most recently discussed this project on November 30, 2016.
ElementsOn May 3, 2017, the FASB decided to add a conceptual framework project on elements. The FASB most recently discussed this project on February 27, 2019, when it decided that “[a]ll present obligations to transfer assets and obligations to deliver shares sufficient in number to satisfy a determinable or defined obligation should meet the definition of a liability.”
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Appendix C: New Deloitte U.S. Accounting PublicationsRoadmap SeriesA Roadmap to Applying the New Leasing Standard (February 2019)
A Roadmap to Non-GAAP Financial Measures (January 2019)
Heads Up NewslettersSEC Simplifies and Modernizes Certain Regulation S-K Requirements (March 25, 2019)
FASB Issues Proposed ASU to Address the Accounting for Share-Based Payments Issued as Sales Incentives to Customers (March 5, 2019)
FASB Proposes to Ease Transition to the Credit Losses Standard (February 11, 2019)
SEC Seeks Input on Quarterly Reports and Earnings Releases (December 21, 2018)
Industry Spotlight SeriesAerospace & Defense Spotlight — Key Differences Between ASC 605-35 (Formerly SOP 81-1) and ASC 606 (February 13, 2019)
Other Industry PublicationsLife Sciences — Accounting and Financial Reporting Update — Including Interpretive Guidance (March 2019)
Technology Alert — Challenges Associated With Applying the New Revenue Standard: Estimating Stand-Alone Selling Prices for Term Licenses and Postcontract Customer Support (February 2019)
Real Estate — Accounting and Financial Reporting Update (January 2019)
Insurance — Accounting and Financial Reporting Update (January 2019)
Banking and Capital Markets — Accounting and Financial Reporting Update (December 2018)
EITF Snapshot NewsletterJanuary 2019
Audit & Assurance Update NewsletterPCAOB Adopts Standard for Auditing Accounting Estimates and Amendments on the Use of Specialists (January 16, 2019)
Deloitte Accounting Journal EntriesFASB Issues Codification Improvements to New Leasing Standard (March 7, 2019)
FASB Decides to Relax Equity Classification Conditions (February 15, 2019)
FASB Concludes Deliberations on Proposed ASU on Codification Improvements to New Leasing Standard and Adds Codification Improvement on Interim Disclosure Requirements in Transition (February 14, 2019)
FASB Issues Proposed ASU Extending Private Company Accounting Alternatives on Goodwill and Intangible Assets to Not-for-Profit Entities (January 3, 2019)
FASB Issues Proposed ASU on Two Codification Improvements to New Leasing Standard (December 21, 2018)
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