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    Financial Reporting Developments

    16 October 2018

    Financial Reporting Developments - Accounting changes and error corrections
    Our FRD publication on accounting changes and error corrections has been updated to further enhance and clarify our interpretive guidance.

    11 October 2018

    Financial Reporting Developments - Lease accounting - Accounting Standards Codification 842, Leases
    Our FRD publication on accounting for leases under ASC 842 has been updated to reflect recent standard-setting activity, including the amendments to ASC 842 that allow an entity to apply the transition provisions at the beginning of the period of adoption. The updates also address proposed amendments to ASC 842 and clarify and enhance our interpretive guidance. Refer to Appendix E of the publication for a summary of the updates.

    11 October 2018

    Financial Reporting Developments - Revenue from contracts with customers (ASC 606)
    Our FRD publication on ASC 606, Revenue from Contracts with Customers, has been updated to further clarify and enhance our interpretative guidance. Refer to Appendix A of the publication for a summary of the significant updates.

    4 October 2018

    Financial Reporting Developments - Credit impairment under ASC 326
    Our new FRD publication on Accounting Standards Codification 326, Credit Losses, discusses the guidance for measuring and recognizing credit losses on financial assets measured at amortized cost, net investments in leases, off-balance sheet commitments and reinsurance recoverables as well as the impairment model for available-for-sale debt securities and certain beneficial interests. It is intended to help companies consider the effects of adopting the new standard. The publication reflects our views as of September 2018 and will be updated to reflect standard-setting developments and enhancements to our interpretative guidance.

    3 October 2018

    Financial Reporting Developments - Discontinued operations (following the adoption of ASU 2014-08)
    We have issued our Financial reporting developments publication on reporting discontinued operations following the adoption of Accounting Standards Update (ASU) 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The ASU changes the definition of a discontinued operation and requires new disclosures of discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. The guidance is effective for calendar year-end companies in 2015, and early adoption is permitted.

    2 October 2018

    Financial Reporting Developments - Issuer’s accounting for debt and equity financings
    Our FRD publication on an issuer’s accounting for debt and equity financings has been updated to further enhance and clarify our interpretive guidance. Refer to Appendix F of the publication for a summary of the updates.

    27 September 2018

    Financial Reporting Developments - Transfers and servicing of financial assets
    Our FRD publication on transfers and servicing of financial assets has been updated to further enhance and clarify our interpretive guidance. It includes a new section that addresses the transfer of financial assets in a commercial mortgage-backed securities issuance under the credit risk retention requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

    25 July 2018

    Financial Reporting Developments - Real estate sales
    This FRD provides interpretive guidance on the accounting for real estate sales.

    12 July 2018

    Financial Reporting Developments - Fair value measurement
    Our FRD publication on fair value measurement has been updated to further clarify and enhance our interpretative guidance. Refer to Appendix E of the publication for a summary of the updates.

    22 June 2018

    Financial Reporting Developments - Intangibles - Goodwill and other
    We have updated our Financial reporting developments (FRD) publication on goodwill and intangibles to reflect the guidance in Accounting Standards Update 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, and to clarify and enhance our interpretative guidance. See Appendix D of the publication for a summary of the updates.

    19 June 2018

    Financial Reporting Developments - Lease accounting - Accounting Standards Codification 840, Leases
    This publication does not address the accounting for leases under the new leases standard, which is codified in ASC 842. That new standard, which will supersede ASC 840, requires lessees to recognize assets and liabilities for most leases but recognize expenses on their income statement in a manner similar to today’s accounting.

    14 June 2018

    Financial Reporting Developments - Certain investments in debt and equity securities (after the adoption of ASU 2016-01)
    Our new FRD publication on certain investments in debt and equity securities (after adoption of ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities) is now available. This publication also reflects recent technical corrections and improvements to the new guidance. It includes answers to questions that entities have raised about how to apply the new guidance and provides examples. The guidance is already effective for calendar-year public business entities.

    14 June 2018

    Financial Reporting Developments - Equity method investments and joint ventures
    Our FRD publication on equity method investments and joint ventures has been updated. See Appendix C for a summary of important changes.

    31 May 2018

    Financial Reporting Developments - Software: Revenue recognition
    We have updated our FRD publication on software revenue recognition to clarify and enhance our interpretative guidance.

    9 May 2018

    Financial Reporting Developments - Bankruptcies, liquidations and quasi-reorganizations
    Our Financial reporting developments publication on bankruptcies, liquidations and quasi-reorganizations has been updated. See Appendix A for a summary of important changes.

    3 May 2018

    Financial Reporting Developments - Foreign currency matters
    Our Financial reporting developments publication on foreign currency matters has been updated to clarify and enhance our interpretative guidance.

    26 April 2018

    Financial Reporting Developments - Segment reporting
    Our FRD publication on segment reporting has been updated to clarify and enhance our interpretative guidance. Refer to Appendix D of the publication for a summary of the updates.

    11 April 2018

    Financial Reporting Developments - Exit or disposal cost obligations
    We have updated our Financial reporting developments publication on exit or disposal cost obligations to note that the FASB issued a new leases standard. Refer to Appendix D of the publication for a summary of the updates.

    21 March 2018

    Financial Reporting Developments - Revenue recognition: Multiple element arrangements
    We have updated our Financial reporting developments publication on multiple element arrangements. Refer to Appendix C of the publication for a summary of the updates.

    7 February 2018

    Financial Reporting Developments - Business combinations
    We have updated our FRD publication on business combinations to include interpretive guidance on how to apply the recognition and measurement principles in ASC 805 to acquired contracts with customers that are accounted for under ASC 606. Refer to Appendix H of the publication for a summary of the updates.

    25 January 2018

    Financial Reporting Developments - Accounting for certain life insurance and annuity products
    Our FRD publication, Accounting for certain life insurance and annuity products, has been updated to incorporate and supersede content from our FRD publication, Accounting and Reporting by Insurance Enterprises for Certain Nontraditional Long-Duration Contracts and for Separate Accounts. The updated FRD also includes enhanced and clarified interpretive guidance but does not address the FASB’s project on targeted improvements to the accounting for long-duration insurance contracts.

    28 December 2017

    Financial Reporting Developments - Asset retirement obligations
    We have updated our Financial reporting developments publication on asset retirement obligations to further clarify and enhance our interpretative guidance. Refer to Appendix E of the publication for a summary of the updates.

    20 December 2017

    Financial Reporting Developments - Certain investments in debt and equity securities (before the adoption of ASU 2016-01)
    We have updated our FRD publication on certain investments in debt and equity securities to include recent standard-setting activity related to premium amortization on callable debt securities. We have also enhanced and clarified our interpretive guidance. Refer to Appendix F of the publication for a summary of the changes.

    19 December 2017

    Financial Reporting Developments - Impairment or disposal of long-lived assets
    We have updated our Financial Reporting Developments publication on impairment or disposal of long-lived assets to provide additional interpretive guidance.

    3 November 2017

    Financial Reporting Developments - Income taxes
    We have updated our FRD publication on income taxes primarily in response to recent standard setting that affects the accounting for intercompany transactions and available-for-sale securities, among other things. Refer to Appendix D of the publication for a summary of the updates.

    19 October 2017

    Financial Reporting Developments - Derivatives and hedging
    We have updated our Financial reporting developments publication on derivatives and hedging to further clarify and enhance our interpretative guidance. Our updates also address the accounting implications of rulebook changes made by certain central clearinghouses to legally characterize variation margin payments for over-the-counter derivatives they clear as settlements rather than collateral. Refer to Appendix F of the publication for a summary of the updates.

    18 October 2017

    Financial Reporting Developments - Share-based payment
    We have updated our Financial reporting developments publication on share-based payment to reflect the new guidance in ASU 2017-09, Scope of modification accounting, and to clarify and enhance our interpretative guidance. Refer to Appendix F of the publication for a summary of the updates.

    10 October 2017

    Financial Reporting Developments - Real estate project costs
    We have updated our Financial Reporting Developments publication on real estate costs to clarify and enhance our interpretative guidance.

    5 October 2017

    Financial Reporting Developments - Earnings per share
    We have updated our Financial reporting developments publication on earnings per share to clarify and enhance our interpretative guidance. Refer to Appendix D of the publication for a summary of the updates.

    28 September 2017

    Financial Reporting Developments - Consolidation: Determination of a controlling financial interest and accounting for changes in ownership interests
    We have updated our Financial reporting developments (FRD) publication on consolidation to include recent standard-setting activity related to the evaluation of indirect interests as part of the primary beneficiary analysis, the application of the voting model for not-for-profit entities and gains and losses from the derecogintion of nonfinancial assets, and to clarify and enhance our interpretive guidance.

    26 September 2017

    Financial Reporting Developments - Statement of cash flows
    We have updated our Financial reporting developments (FRD) publication on the statement of cash flows to reflect the issuance of ASU 2016-18, Restricted Cash, and other recent amendments to ASC 230. See Appendix D of the publication for a summary of the updates.

    31 May 2017

    Financial Reporting Developments - Discontinued operations
    We have updated our Financial Reporting Developments publication on discontinued operations for further clarification and enhancements to our interpretative guidance.

    15 September 2014

    Financial Reporting Developments - Consolidation and the Variable Interest Model: Determination of a controlling financial interest (prior to the adoption of ASU 2015-02, Amendments to the Consolidation Analysis)
    We have updated our Financial reporting developments publication, Consolidation and the Variable Interest Model, for recent standard-setting activities and provided further clarifications and enhancements to our interpretative guidance. Refer to Appendix I of the publication for a list of these updates.

    12 November 2012

    Financial Reporting Developments - Accounting for reinsurance
    This FRD can be found in our Global Accounting and Auditing Information Tool (GAAIT). GAAIT is a single, global online resource for accounting and auditing standards and EY interpretive guidance. Complete this form for an individual password into GAAIT, then choose a 30-day free trial or a 1-year subscription.

    17 May 2012

    Financial Reporting Developments - Insurance contract modifications or exchanges
    This FRD can be found in our Global Accounting and Auditing Information Tool (GAAIT). GAAIT is a single, global online resource for accounting and auditing standards and EY interpretive guidance. Complete this form for an individual password into GAAIT, then choose a 30-day free trial or a 1-year subscription.