Our Q1-2013 edition provides updates on the latest developments in revenue recognition, classification and measurement of financial instruments, impairment of financial assets, leases, insurance contracts, and more.
There is no shortage of activity to report this quarter as the boards forged ahead on their major convergence projects. The FASB and IASB made several key decisions as they move closer toward issuing exposure drafts and final standards. In the Q4-2012 edition of Setting the standard, we update you on the latest developments of the joint standard setting projects of the FASB and IASB, as well as the latest on FASB-only projects.
In the Q2-2012 edition of Setting the standard, we update you on the latest developments of the joint standard setting projects of the FASB and IASB, as well as the latest on FASB-only projects. Also covered is the latest on private company standard setting in the US.
Take two--times three? It looks likely. Each of the "big three" joint projects are poised for a second showing. Revenue recognition will be re-exposed shortly. Leases will follow once the boards finalize their discussions. And, the financial instruments project seems destined for the same path. Not surprisingly, constituents have applauded the re-exposure decisions, which they view as a necessary step to ensure the final products are high quality.