Accounting Roundup — May 2010
The attached issue of Accounting Roundup presents brief descriptions of pronouncements and other regulatory and professional developments in accounting and financial reporting that occurred during May 2010.
Topics covered in this issue include the following:
Update — FASB/IASB Convergence
- FASB and IASB Issue Joint Statement on Convergence; SEC Chairman Comments
- Effect of ASUs 2009-16 and 2009-17 on Presentation of Trade Receivable Financing Arrangements in the Statement of Cash Flows (as Revised)
- FASB Issues Proposed Guidance on Presentation of Comprehensive Income
- FASB Issues Proposed ASU on Accounting for Financial Instruments
- IASB Issues Exposure Draft on Fair Value Option for Financial Liabilities
Foreign Currency Matters
- FASB Releases ASU on Foreign Currency Issues
- Representatives of the SEC, PCAOB, and FASB Testify Before Congress Regarding Accounting and Auditing Issues
- FASB Announces Members of Not-for-Profit Advisory Committee
Other SEC Matters
- IASB Issues Exposure Draft on Improvements to Defined Benefit Accounting
- Health Care Legislation — Impact on Employee Benefits Accounting
- SEC Issues Final Rule on Amendment to Municipal Securities Disclosure
- SEC Proposes Consolidated Audit Trail System to Better Track Market Trades
- SEC Launches New Web Page on Work Plan for Global Accounting Standards
- ASB Finalizes Clarified Auditing Standard on Laws and Regulations
- AICPA Issues TPA on Compilation and Review Engagements
- PCAOB Solicits Nominations for Standing Advisory Group
- FASAB Issues Exposure Draft on Deferred Maintenance and Repairs
- IASB Issues Annual Improvements to IFRSs
- IASC Foundation Announces Appointments to IFRS Interpretations Committee
Links to additional information are provided for most topics.
Accounting Roundup, published by Deloitte & Touche LLP, briefly describes recent U.S. regulatory and professional developments in the field of accounting. In each issue, visitors find summaries with hyperlinks to more detailed information. Accounting Roundup acts as a resource guide for accounting, financial, investment, legal, tax, and other business professionals.
Find the complete May 2010 issue of Accounting Roundup in the PDF attachment. Or visit our Accounting Roundup Archive, where you can access past issues and other special editions, including: Year in Review — 2009, Third Quarter in Review — 2009, Second Quarter in Review — 2009, and First Quarter in Review — 2009.
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