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.
ASUs defer various effective dates (including CECL & leases)
The Financial Accounting Standards Board has deferred the effective dates of leases, credit losses and hedging for certain entities and insurance for all entities.
Actuarial valuation: New mortality improvement scale released
The Society of Actuaries has released an updated mortality improvement scale, Scale MP-2019, which plan sponsors will need to consider when measuring benefit costs and obligations of plans that provide benefits based on the life expectancy of participants.
Share-based consideration payable to a customer
Accounting Standards Update 2019-08 provides guidance regarding the measurement and balance sheet classification of share-based payments to a customer.
Proposed clarifications to the derivatives and hedging standard
The Financial Accounting Standards Board has proposed clarifications to certain sections of its 2017 hedge accounting standard. If finalized, the proposed ASU would clarify whether that change can happen both prospectively and retrospectively and, if so, how hedge accounting guidance should be applied in those instances.
Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
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