At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest financial reporting insights. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Accounting

FASB Q&A documents address certain issues related to the TCJA
The FASB Staff recently issued Q&As to address certain issues related to accounting for the effects of the Tax Cuts and Jobs Act.

Proposed reclassification of certain tax effects from AOCI
A recent proposed ASU addresses the reclassification of stranded tax effects within AOCI to retained earnings.

FASB issues proposed amendments to ASC 842
The FASB recently proposed amendments to address certain difficulties encountered in implementing ASU 2016-02, Leases (ASC 842).

Update to our debt and equity guide related to down round features
We have updated our guide, Accounting for debt and equity instruments in financing transactions, to reflect ASU 2017-11.

Revenue recognition considerations for member-owned private clubs
Our white paper discusses topics member-owned private clubs should consider when applying the new revenue recognition guidance.

SEC

SAB 74 disclosures for new standard on lease accounting
Registrants are reminded to provide disclosure about progress toward implementation of ASU 2016-02, Leases (ASC 842).

Requirements for disclosure of tax-related non-GAAP measures
Registrants are reminded that disclosure of tax-related non-GAAP financial measures must comply with the SEC’s requirements.

Webcast

2018’s impact on your corporation
February 14

Audit and Accounting Updates for Business Owners and Financial Professionals

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/financial-reporting-insights.html

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.