Assurance Publications
BDO Knows: Flash Reports
Our Flash reports are intended to highlight certain financial reporting developments in a timely and brief “flash” format.
Assurance
| 4/18/2012 | Assurance Practice Newsbytes Q1 2012 A Sampling of BDO Thought Leadership in the Media for Q1 2012 |
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| 1/20/2012 | PCAOB Reproposes Auditing Standard on Communications with Audit Committees (AU 380) 261 KB PDF File |
| 9/30/2011 | SEC Approves PCAOB Rules on Audits of Broker-Dealers 92 KB PDF File |
| 9/19/2011 | Recent PCAOB Concept Releases |
| 6/2/2011 | CAQ Issues In-Depth Guide to Public Company Auditing: The Financial Statement Audit |
FASB
| 2/13/2012 | Exposure Draft on Testing Indefinite-Lived Intangible Assets for Impairment 99 KB PDF File |
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| 1/9/2012 | FASB Issues ASU on Required Disclosures for Offsetting Assets and Liabilities 94 KB PDF File |
| 12/15/2011 | FASB Issues Revised Exposure Draft on Revenue from Contracts with Customers 1.31 MB PDF File |
| 12/12/2011 | FASB Announces Webcast on Financial Reporting for Nonpublic Entities 287 KB PDF File |
| 9/2/2011 | FASB Approves Cost-Saving Measure for Goodwill Impairment Tests That May Impact 3Q 2011 Reports 99 KB PDF File |
| 7/15/2011 | FASB Issues Final ASU on Creditor Accounting for Troubled Debt Restructuring 135 KB PDF File |
| 2/14/2011 | FASB Issues Final ASUs on Goodwill Impairment Testing and Pro Forma Business Combinations Disclosures 96 KB PDF Document |
| 1/21/2011 | Accounting for Restoration of the R&D Tax Credit 82 KB PDF Document |
SEC
Financial Reporting Newsletters
Our Financial Reporting newsletters address significant financial reporting developments, relating to both public and private businesses, that occur throughout the year.
| 4/20/2012 | BDO Knows: The Jumpstart Our Business Startups Act 954 KB PDF File |
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| 1/24/2012 | BDO Knows: Multiemployer Pension Plans 509 KB PDF File |
| 1/13/2012 | Report on 2011 AICPA SEC and PCAOB Conference 864 KB PDF File |
| 1/13/2012 | SEC Year in Review – Significant 2011 Developments 636 KB PDF Document |
| 1/12/2012 | Accounting Year in Review – 2011 45.6 KB PDF File |
| 9/28/2011 | BDO Knows: Goodwill Impairment 1310 KB PDF File |
| 8/23/2011 | BDO Knows: Comprehensive Income Newsletter An Offering from the BDO National Assurance Practice |
| 6/13/2011 | BDO Knows: Contingent Consideration 424 KB |
| 1/13/2011 | SEC Year in Review – Significant 2010 Developments 708 KB PDF File |
| 1/13/2011 | Report on 2010 AICPA SEC and PCAOB Conference 534 KB PDF File |
| 1/13/2011 | Accounting Year in Review – 2010 604 KB PDF File |
Significant Accounting and Reporting Matters Guide
Issued on a quarterly basis, the Significant Accounting and Reporting Matters Guide provides a brief digest of final and proposed financial accounting standards. This guide is designed to help audit committees, boards and financial executives keep up to date on the latest corporate governance and financial reporting developments.
Client Advisories
Our client advisories are concise documents that provide timely commentary, analysis and insights on events and trends of interest to managers and directors. To subscribe to future client advisories, please use our RSS feed or send an email to BDO USA’s National Assurance practice at assurance@bdo.com
| 4/10/2012 | Initial Offerings Newsletter - Spring 2012 U.S. IPO Activity Builds Momentum in Q1 |
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| 3/29/2012 | BDO Board Reflections – March 2012 European Debt Crisis, Increased M&A and Executive Compensation among Top Issues at 2012 Share Holder Meetings. |
| 2/13/2012 | BDO Board Reflections - January 2012 Considerations for Nominating Committees |
| 1/17/2012 | 2012 BDO IPO Outlook The BDO IPO Outlook Survey is a national telephone survey interviewing 100 capital market executives. |
| 7/12/2011 | 2011 BDO IPO Halftime Report Executive Summary |
EBP Commentator
Published by BDO USA's National Employee Benefit Plan Audit Group, EBP Commentator provides news and the latest developments impacting your qualified plans and their respective audits.
| 2/21/2012 | EBP Commentator Special Edition: Final Fee Disclosure Regulation Issued – Winter 2012 422 KB PDF File |
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| 11/14/2011 | EBP Commentator - Fall 2011 931 KB PDF File |
| 11/2/2011 | EBP Commentator Special Edition: 2012 Cost of Living Adjustments - November 2011 135 KB PDF File |
| 2/23/2011 | EBP Commentator Winter 2011 - Recent EBP Developments 930 KB |
Initial Offerings
Published by BDO USA's Capital Markets Practice, Initial Offerings provides news, insights and developments impacting businesses making public securities offerings
| 4/12/2012 | Initial Offerings Newsletter - Spring 2012 679 KB PDF File |
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Comment Letters
BDO USA's comment letters on FASB, SEC, and PCAOB proposals.
| 4/23/2012 | Proposed Accounting Standards Update, Testing Indefinite-Lived Intangible Assets for Impairment BDO supports the FASB's effort to reduce cost and complexity, but recommends a broader reconsideration of impairment testing for intangible assets. |
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| 3/14/2012 | Proposed Accounting Standards Update, Revenue from Contracts with Customers BDO supports the revised revenue recognition proposal, although we believe further improvement is needed before finalizing the standard. |
| 2/10/2012 | Proposed Accounting Standards Update, Financial Services—Investment Companies: Amendments to the Scope, Measurement, and Disclosure Requirements BDO supports the Board’s proposal to clarify the scope of investment company accounting, although we are concerned it is too narrow and offer suggestions for expanding it. |
| 2/10/2012 | Proposed Accounting Standards Update, Real Estate—Investment Property Entities BDO does not support the Board’s proposal to establish a separate accounting model for investment property entities. Instead, we would include them within the investment company standard. |
| 2/10/2012 | Proposed Accounting Standards Update, Consolidation: Principal versus Agent Analysis BDO recommends establishing a scope exception from consolidation for certain funds, but does not support the overall principal vs. agent proposal. We believe its subjective nature would result in significant operational challenges. |
| 1/6/2012 | Plan to Establish the Private Company Standards Improvement Council (PCSIC) We believe the FAF's proposal reflects a reasoned and practical path forward regarding the FASB's engagement with private company stakeholders. As such, we support establishing a new Council that is subject to FASB oversight. However, we have provided recommendations to improve the FAF's plan. |
| 12/14/2011 | PCAOB Release No. 2011-006, Rulemaking Docket Matter No. 037, Auditor Independence and Audit Firm Rotation BDO USA, LLP’s comment letter recognizes the PCAOB’s concern regarding the frequency and types of audit deficiencies found during inspections. However, our letter states that we do not believe that mandatory firm rotation is the appropriate nor necessary response to that concern. |
| 11/21/2011 | Proposed Accounting Standards Update, Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in ASU No. 2011-05 BDO agrees with the proposed deferral of reclassification adjustments, and also recommends that the FASB highlight its intention to change the presentation requirements for net income in ASU No. 2011-05. |
| 9/29/2011 | Proposed Accounting Standards Update, Derecognition of in Substance Real Estate-a Scope Clarification BDO agrees that the real estate literature applies to transactions in the scope of the proposal, but believes the final amendments should clarify that not all debt defaults necessarily result in the loss of control of a real estate subsidiary. |
| 9/12/2011 | Proposed Auditing Standard, Auditing Supplemental Information Accompanying Audited Financial Statements and Related Amendments to PCAOB Standards BDO is supportive of the Board's efforts to update and enhance the guidance in circumstances when the auditor of the financial statements is engaged to also report on whether supplemental information accompanying the financial statements is fairly stated, in all material respects, in relation to the financial statements as a whole. However, we have some concerns about the clarity of the nature of the engagement and the scope of work for an "in relation to" opinion that is included in the Proposed Standard, |
| 6/6/2011 | Proposed Accounting Standards Update, Testing Goodwill for Impairment BDO supports the objective to reduce the complexity and cost of the current impairment model. However, we are concerned that the Proposal will not ultimately achieve those objectives and therefore recommend strengthening the proposal by evaluating whether it is “probable” that the fair value of a reporting unit exceeds its carrying amount. |
| 4/25/2011 | Discussion Paper, Selected Issues about Hedge Accounting Including IASB Exposure Draft, Hedge Accounting BDO believes that a key objective of any proposal issued at this time should be the development of converged "high" quality accounting standards. BDO believes the IASB's proposed comprehensive changes to hedge accounting with its stress on principles, rather than rules, provides a good starting point for deliberating and exposing converged guidance. |
| 4/1/2011 | Supplementary Document, Accounting for Financial Instruments and Revisions to the Accounting for Derivative Instruments and Hedging Activities: Impairment BDO has significant reservations about the proposals in the SD and the extent to which they are supported by clear principles. In consequence, we believe that the potential benefits of the SD are outweighed by our concerns and, therefore, are not able to support them. |
| 1/31/2011 | Discussion Paper, Effective Dates and Transition Methods BDO recommends a two-stage adoption schedule for several new anticipated accounting standards. The first stage would begin in 2013, and includes financial instruments, other comprehensive income and fair value. All remaining standards, including revenue and leasing, would begin in 2015. |
| 1/14/2011 | Proposed Accounting Standards Update, Reconsideration of Effective Control for Repurchase Agreements BDO agrees that the amendment proposed in the ED improves and simplifies the accounting for repurchase (repos) and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity. |
