Accounting Standards & Reporting Matters
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BDO Comment Letter - Leases - Common Control Arrangements
January 18, 2023BDO supports the Board’s proposal to allow private entities to use the written terms and conditions of a common control arrangement to determine whether a lease exists, but requests certain clarifications.
BDO Comment Letter - FASB Concepts Statement No. 8, Conceptual Framework for Financial Reporting, Chapter 2 The Reporting Entity
January 18, 2023BDO supports incorporation of a chapter that describes a reporting entity into the Conceptual Framework but recommends certain changes.
Financial Reporting Considerations: Inflation and Rising Interest Rates
January 10, 2023As companies prepare for year-end financial reporting, it’s important to consider the implications of inflation and rising interest rates, which can affect financial reporting in many ways.
BDO Comment Letter - Proposed Guidance on the Recognition and Initial Measurement of Joint Venture Formations
January 2, 2023BDO Provides Comments on Proposed Guidance on the Recognition and Initial Measurement of Joint Venture Formations
FASB Defers the Sunset Date for the Reference Rate Reform Relief in Topic 848
December 21, 2022The FASB issued ASU 2022-06 (“ASU”) to defer the sunset date of ASC Topic 848, Reference Rate Reform (Topic 848), which provides temporary optional relief in accounting for the impact of reference rate reform.
SEC Adopts Amendments to Rule 10b5-1 Insider Trading Plans
December 20, 2022On December 14, 2022, the Securities and Exchange Commission (SEC) adopted amendments to Rule 10b5-1 of the Securities Exchange Act of 1934. Rule 10b5-1 provides company insiders, who often hold material nonpublic information (“MNPI”), with an affirmative defense against claims of insider trading.
2022 AICPA SEC & PCAOB Conference Highlights
December 20, 2022Consistent with prior years, the annual AICPA & CIMA Conference on Current SEC and PCAOB Developments was held in Washington D.C. on December 12-14, 2022, where representatives from the Securities and Exchange Commission and the Public Company Accounting Oversight Board shared their views on various accounting, reporting and auditing issues.
SEC Updates Compliance and Disclosure Interpretations on Non-GAAP Financial Measures
December 19, 2022SEC staff updated its Compliance and Disclosure Interpretations (C&DIs) on non-GAAP financial measures to provide additional clarity and transparency on how the staff applies the guidance. Non-GAAP financial measures have consistently been one of the staff’s most frequent comment letter topics. The updates primarily address the nature and presentation of adjustments or measures that may be considered misleading and, therefore, violate Regulation G or Item 10(e) of Regulation S-K.
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