This Newsletter presents a summary of new US GAAP pronouncements relevant to financial statements prepared in accordance with US GAAP ( includes developments to September 30, 2012).
The attached memorandum summarizes US GAAP pronouncements that must be applied, if applicable, for the first time by a calendar year-end entity that prepares financial statements in accordance with US GAAP. This newsletter sets out new requirements by the calendar year in which they are first effective.
The listing includes updates from the FASB Accounting Standard Updates ("ASU").
This ACS Newsletter supersedes the information in previous Newsletter 07/06/2012 Closing the GAAP: New US GAAP Pronouncements (includes developments to June 30, 2012) and will be updated quarterly. Developments since the previous newsletters, if any, are highlighted in yellow.
While we have attempted to make this newsletter as complete as possible, it may not include all changes or modifications to existing authoritative literature that may affect a particular enterprise.