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 McGladrey 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.
Revenue recognition: FASB revises new principal vs. agent guidance
Our summary provides an overview of the revised principal vs. agent guidance in FASB ASC Topic 606.
Accounting for contingent put and call options in debt instruments
ASU 2016-06 addresses the accounting for contingent put and call options that can accelerate the payment of principal on debt instruments.
Simplification for transition to the equity method of accounting
ASU 2016-07 eliminates the requirement to retroactively adopt the equity method of accounting.
Source: RSM US LLP
Used with permission as a member of the McGladrey Alliance
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