With the rapid flow of new and emerging accounting guidance, regulatory actions and market activity the KnowledgeBrief is a briefing tailored for retail and consumer companies. While not all inclusive, this newsletter highlights some of the key accounting and reporting considerations which may impact companies in the retail & consumer sector.
In this edition of the R&C KnowledgeBrief, we:
- Highlight the SEC's continuing focus on registrant's segment reporting and ASC 280, Segment Reporting, considerations;
- Summarize disclosure trends and other areas of focus of the SEC staff applicable to R&C companies noted in recent SEC comment letters;
- Provide an update on sales and use tax considerations applicable to remote sellers when there is not a physical presence in the consumer's state;
- Provide a reminder of the rules related to abandoned and unclaimed property and highlight some of the common areas impacting R&C companies; and,
- Share a potential change in policy which may impact retailers that are considering expanding into India.