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The FASB hits our newsletter twice this week. First, they released a much anticipated exposure draft to amend the leases standard on Tuesday. We describe the proposals in our In brief. Second, they added two projects to their agenda at Wednesday’s meeting that you may find of interest. See the FASB’s tentative decisions linked below for the projects they added and the ones that didn’t make the cut.
With companies increasing their expenditures on technology, including software and related services, questions about how to account for these costs are becoming more common. To help navigate the accounting and reporting guidance in this area, PwC partners discuss the different accounting models and financial statement presentation for software costs.
On October 20, the FASB issued an exposure draft of three proposed amendments to the leases standard to address preparer concerns with how the underlying economics for certain transactions was reflected and the implementation cost and complexity. Read our In brief for details.
Business combinations and noncontrolling interests: We’ve made targeted enhancements to our interpretive guidance, including the latest insights related to intangible assets and goodwill.
Insurance contracts: We’ve updated our accounting guide to provide even more insights to help insurance and reinsurance entities navigate the accounting required by the new long duration insurance contracts standard.
In this episode, host Heather Horn sits down with PwC’s Bob Woods to discuss how the agile methodology is modernizing the finance function.
The LIBOR transition enters a new phase this quarter amid significant recent and upcoming market catalysts. To learn more, join us for a discussion with leading LIBOR transition practitioners as we explore operational readiness for a risk-free world, strategic perspectives around new alternative reference rate products, and self-assurance and monitoring. Register here.
At its October 21 meeting, the FASB voted to add projects to its technical agenda related to (1) the disclosure of supplier finance programs involving trade payables and (2) consolidation of a not-for-profit entity by its for-profit sponsor.