2014-01-07 Closing the GAAP: New US GAAP Pronouncements (includes developments to December 31, 2013)

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 2013-099 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.