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.

FASB Staff Q&A document: Estimating credit loss reserves
A FASB Staff Q&A addresses use of the WARM method to estimate credit loss reserves for less complex financial asset pools.

ASC 606: Disclosure checklists for public and nonpublic entities
Our disclosure checklists are intended to assist entities in complying with the FASB’s revenue-related disclosure requirements.

Monitoring inflation when applying ASC 830
The CAQ International Practices Task Force has developed a framework that may be helpful in monitoring inflation statistics.

FASB issues narrow-scope amendments to ASC 842
The FASB has addressed three issues lessors sometimes encounter in applying Accounting Standards Codification Topic 842, “Leases.”

Proposed Codification improvements for lessors
The FASB has proposed guidance for two issues lessors sometimes encounter in applying Accounting Standards Codification Topic 842.

Proposed accounting alternatives for not-for-profit entities
The FASB has proposed accounting alternatives for not-for-profit entities for goodwill and certain identifiable intangible assets.

consulting with one another using a calculator

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.