- The long awaited new standards on revenue recognition, ASU 2014-09 (Topic 606), Revenue from Contracts with Customers will create changes in the process of how revenue is recognized.
- Baker Tilly and Oracle address the upcoming changes in Revenue Recognition regulations.
- The Financial Accounting Standards Board (FASB) issued its long awaited Accounting Standard Update on accounting for Leases. This marks the completion of one of the last convergence projects the FASB took up with the International Accounting Standards Board (IASB).
- A highway bill recently signed by President Obama includes regulatory relief measures for the banking industry.
- Auto lending rules and heavy CFPB fines will be significantly rolled back if H.R. 1737, the “Reforming CFPB Indirect Auto Financing Guidance Act,” becomes law.
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