Pronouncement |
Effective Date |
BDO Alert |
ASC 220, Income Statement—Reporting Comprehensive Income |
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ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income |
Effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. |
ASU 2018-02 Alert |
ASC 230, Statement of Cash Flows |
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ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments |
Effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. |
ASU 2016-15 Alert |
ASU 2016-18, Restricted Cash |
Effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. |
ASU 2016-18 Alert |
ASC 405, Liabilities |
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ASU 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products |
Effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. |
ASU 2016-04 Alert |
ASC 606, Revenue from Contracts with Customers |
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ASC 610-20, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets |
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ASU 2014-09, Revenue from Contracts with Customers
ASU 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net)
ASU 2016-10, Identifying Performance Obligations and Licensing
ASU 2016-12, Narrow-Scope Improvements and Practical Expedients
ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers
ASU 2017-05, Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets |
Effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019.
For the individual ASUs and more information, refer to FASB’s Revenue Recognition Implementation Page. |
BDO Knows: ASC 606
BDO Knows: ASC 606, Exploring Transition Methods
BDO Knows: ASC 606, Presentation and Disclosure |
ASC 715, Compensation—Retirement Benefits |
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ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost |
Effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. |
ASU 2017-07 Alert |
ASC 740, Income Taxes |
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ASU 2016-16, Intra-Entity Transfers of Assets Other Than Inventory |
Effective for fiscal years beginning after December 15, 2018 and interim periods within fiscal years beginning after December 15, 2019. |
ASU 2016-16 Alert |
ASC 805, Business Combinations |
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ASU 2017-01, Clarifying the Definition of a Business |
Effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. |
ASU 2017-01 Alert |
ASC 825, Financial Instruments |
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ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities |
Effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. |
ASU 2016-01 Alert |
ASU 2018-03, Technical Corrections and Improvements to Topic 825, Recognition and Measurement of Financial Assets and Financial Liabilities |
Effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. |
ASU 2018-03 Alert |
ASC 853, Service Concession Arrangements |
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ASU 2017-10, Determining the Customer of the Operation Services |
For an entity that has not adopted ASC 606 before the issuance of this ASU, the effective date and transition requirements for the amendments generally are the same as the effective date and transition requirements for ASC 606.
For a nonpublic entity that has adopted ASC 606 before the issuance of this ASU, the ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. |
ASU 2017-10 Alert |
ASC 958, Not-for-Profit Entities |
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ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made |
Contributions Received - Effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019.
Contributions Made - Effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. |
ASU 2018-08 Alert |
ASU 2019-06, Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities |
Effective upon issuance of ASU 2019-06. |
ASU 2019-06 Alert |
ASC 960, Defined Benefit Pension Plans; ASC 962, Defined Contribution Pension Plans; and ASC 965, Health and Welfare Benefit Plans |
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ASU 2017-06, Employee Benefit Plan Master Trust Reporting |
Effective for plan fiscal years beginning after December 15, 2018. |
ASU 2017-06 Alert |
ASC 995, U.S. Steamship Entities—Elimination of Topic 995 |
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ASU 2017-15, Codification Improvements to Topic 995, U.S. Steamship Entities—Elimination of Topic 995 |
Effective for fiscal years beginning after December 15, 2018. |
2017 Year in Review |
Other |
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ASU 2018-09, Codification Improvements |
Certain amendments become effective for fiscal years beginning after December 15, 2018. |
2018 Year in Review |