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  • SEC staff publishes C&DI on EDGAR filings for issuers of asset-backed securities
    United States English Toggle navigation Search site Toggle navigation Home News Publications Standards Projects Resources My US GAAP Plus Topics Communications Toggle navigation Search site Navigation News 2016 January February 2015 2014 2013 2012 Info SEC staff publishes C DI on EDGAR filings for issuers of asset backed securities Feb 09 2016 The staff in the SEC s Division of Corporation Finance has issued a compliance and disclosure interpretation C DI for issuers of asset backed securities that addresses certain changes to the EDGAR system as a result of the adoption of revisions to Regulation AB and new Exchange Act Rule 15Ga 2 For more information see the C DI on the SEC s Web site Related Topics Resources U S Securities and Exchange Commission SEC Other XBRL Related news SEC updates EDGAR filer manual and technical specifications Feb 02 2016 SEC staff updates interactive data XBRL interpretations and FAQs Jan 26 2016 SEC adopts rules implementing FAST Act provisions Jan 14 2016 SEC publishes examination priorities for 2016 Jan 11 2016 SEC reports improvements in NRSRO compliance Dec 28 2015 FASB releases 2016 U S GAAP Financial Reporting Taxonomy Dec 17 2015 All Related Related Publications Accounting Roundup January 2016 Feb 02 2016 Journal entry New revenue standard SEC staff remarks about transition resource group activities Feb 02 2016 Journal entry CAQ SEC Regulations Committee releases highlights of October 21 2015 joint meeting with SEC staff Jan 22 2016 Journal entry SEC issues and requests comments on interim final rules implementing certain FAST Act provisions Jan 15 2016 All Related Related Dates SEC proposed rule on resource extraction disclosures Feb 17 2016 Comment deadline SEC proposes alternative trading systems enhancements Feb 27 2016 Comment deadline SEC final rule on crowdfunding May 17 2016 Effective date All Related About Contact

    Original URL path: http://www.iasplus.com/en-us/news/2016/02/sec-cdi-abs (2016-02-10)
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  • GASB proposes guidance on lease contracts
    My US GAAP Plus Topics Communications Toggle navigation Search site Navigation News 2016 January February 2015 2014 2013 2012 Info GASB proposes guidance on lease contracts Feb 09 2016 The GASB has issued an exposure draft ED Leases that would establish a single approach for state and local governments to report leases based on the principle that leases are financings of the right to use an underlying asset The proposal would require lessees to recognize a lease liability and an intangible asset representing their right to use the leased asset while lessors would be required to recognize a lease receivable and a deferred inflow of resources In addition the ED provides guidance on the accounting for lease terminations and modifications sale leaseback transactions nonlease components embedded in lease contracts and related party leases Com ments on the ED are due by May 31 2016 For more in for ma tion see the press release ED and GASB in Focus newsletter on the GASB s Web site Related Topics Resources Governmental Accounting Standards Board GASB Related news GASB issues guidance on investment pools Dec 28 2015 GASB issues three exposure drafts Dec 22 2015 GASB amends pension guidance for certain governmental entities Dec 11 2015 FAF completes post implementation review of GASB s guidance on nonexchange transactions Nov 18 2015 GASB proposes amendments to pension guidance for certain governmental entities Oct 15 2015 GASB issues report summarizing costs and benefits of standards on other postemployment benefits Oct 06 2015 All Related Related Publications Accounting Roundup Year in Review 2015 Dec 18 2015 Accounting Roundup November 2015 Dec 03 2015 Accounting Roundup October 2015 Nov 03 2015 Dbriefs webcast Quarterly accounting roundup An update of important developments Apr 01 2015 All Related Related Dates GASB exposure draft on pension issues Feb 13

    Original URL path: http://www.iasplus.com/en-us/news/2016/02/gasb-ed-leases (2016-02-10)
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  • Comment-letter feedback on the IASB’s proposal related to the different effective dates of IFRS 9 and the forthcoming insurance contracts standard
    nated financial assets i e the overlay approach Entities whose pre dom i nant activity is issuing contracts within the scope of IFRS 4 would be able to employ an optional temporary exemption from applying IFRS 9 i e the deferral approach The comment letters on the ED seem to focus on two questions Is one of the two ap proaches prefer able and can either one be dropped al to gether How can pre dom i nance best be de ter mined under the deferral approach and what is the ap pro pri ate level for assessing pre dom i nance Regarding the first question most re spon dents believe that both the overlay approach and the deferral approach are needed because they address different issues depending on the type of business ac tiv i ties and group struc tures For instance entities in the insurance industry are requesting that IFRS 9 be deferred until the insurance standard is completed primarily citing cost reasons However some user groups are asking for the overlay approach only and some are even arguing that it would be best to do nothing believing that com pa ra bil ity would be hindered if multiple options exist Some respondents had suggestions for refining the deferral approach While most re spon dents agree that assessing pre dom i nance is the right approach some believe that the IASB s proposal for assessing pre dom i nance at the reporting entity level is confusing Most re spon dents seem to believe that the IASB sees the group level as the reporting entity level However others believe that the reporting entity level could also constitute lower levels than the group level Implications of the two possible assessments may include As sess ment is at the group level Pure insurance companies that are sub sidiaries of con glom er ates would not have the option of deferral while companies that are not sub sidiaries of con glom er ates would have the option As sess ment is at a lower level than the group level In this assessment there is the question of roll up That is either 1 groups would need to con sol i date IFRS 9 and IAS 39 numbers or 2 qual i fy ing sub sidiaries would need to keep two sets of books an IAS 39 one for reporting to their users and an IFRS 9 one for reporting within the group The IASB plans to begin rede lib er a ting the ED in the second quarter of 2016 Final amend ments are expected to be published in the third quarter of 2016 Related Topics Resources International Accounting Standards Board IASB Projects Insurance contracts overview Standards IAS 39 Financial Instruments Recognition and Measurement IFRS 4 Insurance Contracts IFRS 9 Financial Instruments Related news IASB publishes amendments to IAS 7 Jan 29 2016 January 2016 IASB meeting notes posted Jan 22 2016 IASB publishes amendments related to the recognition of deferred tax

    Original URL path: http://www.iasplus.com/en-us/news/2016/02/reactions-to-ed-2015-11 (2016-02-10)
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  • Highlights from the FASB’s February 3 meeting
    the following financial reporting issues in its upcoming agenda discussion paper Pensions and other postretirement employee benefit plans Intangible assets Distinguishing liabilities from equity Financial performance reporting In addition the FASB will continue to perform preagenda research on consolidations as well as inventory and costs of sales For more information see the tentative Board decisions on the FASB s Web site Financial statements of not for profit entities The FASB discussed feedback on its proposed ASU Presentation of Financial Statements of Not for Profit Entities and made tentative decisions related to 1 n etting of external and direct internal investment expenses against investment return 2 d isclosure of netted investment expenses 3 e xpenses by nature and analysis of expenses by function and nature and 4 e nhanced disclosures about cost allocations and improved guidance on management and general activities For more information see the tentative Board decisions on the FASB s Web site Related Topics Resources Financial Accounting Standards Board FASB Projects Not for profit financial reporting Financial statements Other FASB Meetings Related news FASB proposes guidance on certain cash flow classification issues Jan 29 2016 FASB issues proposed ASUs on pensions and other postretirement benefit plans Jan 26 2016 Highlights from the FASB s January 20 meeting Jan 22 2016 FASB publishes new issue of FASB Outlook Jan 12 2016 Highlights from the FASB s January 6 meeting Jan 07 2016 FASB issues final standard on classification and measurement of financial instruments Jan 05 2016 All Related Related Publications Heads Up FASB proposes guidance on cash flow classification Feb 04 2016 Accounting Roundup January 2016 Feb 02 2016 Heads Up FASB proposes guidance on presentation of net periodic benefit cost and disclosures related to defined benefit plans Jan 28 2016 U S comment letter on clarifying the definition

    Original URL path: http://www.iasplus.com/en-us/news/2016/02/fasb-meeting-0203 (2016-02-10)
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  • SEC updates EDGAR filer manual and technical specifications
    Kingdom English United States English Toggle navigation Search site Toggle navigation Home News Publications Standards Projects Resources My US GAAP Plus Topics Communications Toggle navigation Search site Navigation News 2016 January February 2015 2014 2013 2012 Info SEC updates EDGAR filer manual and technical specifications Feb 02 2016 The SEC has updated its Electronic Data Gathering Analysis and Retrieval EDGAR System Filer Manual volumes I and II to include new submission forms related to the funding portal In addition the SEC has issued the technical specifications for CF Portal EDGAR XML submission types For more in for ma tion see EDGAR page on the SEC s Web site Related Topics Resources U S Securities and Exchange Commission SEC Other XBRL Related news SEC staff publishes C DI on EDGAR filings for issuers of asset backed securities Feb 09 2016 SEC staff updates interactive data XBRL interpretations and FAQs Jan 26 2016 SEC adopts rules implementing FAST Act provisions Jan 14 2016 SEC publishes examination priorities for 2016 Jan 11 2016 SEC reports improvements in NRSRO compliance Dec 28 2015 FASB releases 2016 U S GAAP Financial Reporting Taxonomy Dec 17 2015 All Related Related Publications Accounting Roundup January 2016 Feb 02 2016 Journal entry New revenue standard SEC staff remarks about transition resource group activities Feb 02 2016 Journal entry CAQ SEC Regulations Committee releases highlights of October 21 2015 joint meeting with SEC staff Jan 22 2016 Journal entry SEC issues and requests comments on interim final rules implementing certain FAST Act provisions Jan 15 2016 All Related Related Dates SEC proposed rule on resource extraction disclosures Feb 17 2016 Comment deadline SEC proposes alternative trading systems enhancements Feb 27 2016 Comment deadline SEC final rule on crowdfunding May 17 2016 Effective date All Related About Contact us Legal

    Original URL path: http://www.iasplus.com/en-us/news/2016/02/edgar (2016-02-10)
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  • FASB proposes guidance on certain cash flow classification issues
    Cash Receipts and Cash Payments in response to the EITF consensus for exposure on Issue 15 F Specifically the proposal addresses eight cash flow classification issues that have been creating diversity in practice Debt prepayment or debt extinguishment costs Settlement of zero coupon bonds Contingent consideration payments made after a business combination Proceeds from the settlement of insurance claims Proceeds from the settlement of corporate owned life insurance policies including bank owned life insurance policies Distributions received from equity method investees Beneficial interests in securitization transactions Separately identifiable cash flows and application of the predominance principle Com ments on the pro posal are due by March 29 2016 For more in for ma tion see De loitte s Heads Up and November 2015 EITF Snapshot as well as the pro posed ASU on the FASB s Web site Related Topics Resources FASB Proposed Accounting Standards Financial Accounting Standards Board FASB Standards ASC 230 Statement of Cash Flows Related news Highlights from the FASB s February 3 meeting Feb 05 2016 FASB issues proposed ASUs on pensions and other postretirement benefit plans Jan 26 2016 Highlights from the FASB s January 20 meeting Jan 22 2016 FASB publishes new issue of FASB Outlook Jan 12 2016 Highlights from the FASB s January 6 meeting Jan 07 2016 FASB issues final standard on classification and measurement of financial instruments Jan 05 2016 All Related Related Publications Heads Up FASB proposes guidance on cash flow classification Feb 04 2016 Accounting Roundup January 2016 Feb 02 2016 Heads Up FASB proposes guidance on presentation of net periodic benefit cost and disclosures related to defined benefit plans Jan 28 2016 U S comment letter on clarifying the definition of a business Jan 25 2016 All Related Related Dates FASB proposal on government assistance Feb 11

    Original URL path: http://www.iasplus.com/en-us/news/2016/01/pasu-eitf-15f (2016-02-10)
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  • IASB publishes amendments to IAS 7
    ties a changes from financing cash flows b changes arising from obtaining or losing control of sub sidiaries or other busi nesses c the effect of changes in foreign exchange rates d changes in fair values and e other changes The IASB defines li a bil i ties arising from financing ac tiv i ties as li a bil i ties for which cash flows were or future cash flows will be clas si fied in the statement of cash flows as cash flows from financing ac tiv i ties The amendments indicate that the new dis clo sure re quire ments also apply to changes in financial assets that meet this de f i n i tion The amend ments state that one way to meet the new dis clo sure re quire ments is to provide a rec on cil i a tion between the opening and closing balances in the statement of financial position for li a bil i ties arising from financing ac tiv i ties The amend ments are effective for annual periods beginning on or after January 1 2017 Earlier ap pli ca tion is permitted Because the amend ments are being issued less than one year before the effective date entities need not provide com par a tive in for ma tion when they first apply the amend ments For more information see Deloitte s IFRS in Focus newsletter as well as the amendments and press release on the IASB s Web site Related Topics Resources International Accounting Standards Board IASB Standards IAS 7 Statement of Cash Flows Related news Comment letter feedback on the IASB s proposal related to the different effective dates of IFRS 9 and the forthcoming insurance contracts standard Feb 08 2016 January 2016 IASB meeting notes posted Jan

    Original URL path: http://www.iasplus.com/en-us/news/2016/01/ias-7 (2016-02-10)
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  • FASB issues proposed ASUs on pensions and other postretirement benefit plans
    Periodic Postretirement Benefit Cost Changes to the disclosure requirements for defined benefit plans This proposal would modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans and disaggregate these disclosures between domestic and foreign plans Improving the presentation of net periodic pension cost and net periodic postretirement benefit cost Under this proposal an employer would be required to report the service cost component in the same line item s as other compensation costs arising from services rendered by the pertinent employees during the period The proposal also allows only the service cost component to be eligible for capitalization when applicable Next steps Comments on both proposals are due by April 25 2016 For more information about the proposed ASUs see Deloitte s related Heads Up newsletter as well as the press release FASB in Focus newsletter and informational document on the FASB s Web site Related Topics Resources Financial Accounting Standards Board FASB FASB Proposed Accounting Standards Projects Improving the presentation of net benefit cost Standards ASC 715 Compensation Retirement Benefits Related news Highlights from the FASB s February 3 meeting Feb 05 2016 FASB proposes guidance on certain cash flow classification issues Jan 29 2016 Highlights from the FASB s January 20 meeting Jan 22 2016 FASB publishes new issue of FASB Outlook Jan 12 2016 Highlights from the FASB s January 6 meeting Jan 07 2016 FASB issues final standard on classification and measurement of financial instruments Jan 05 2016 All Related Related Publications Heads Up FASB proposes guidance on cash flow classification Feb 04 2016 Accounting Roundup January 2016 Feb 02 2016 Heads Up FASB proposes guidance on presentation of net periodic benefit cost and disclosures related to defined benefit plans Jan 28 2016 U S comment letter on clarifying the definition

    Original URL path: http://www.iasplus.com/en-us/news/2016/01/fasb-pasu-pensions (2016-02-10)
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