- The AICPA issued guidance for implementing the FASB’s credit losses standard. The guide is written by the Financial Reporting Executive Committee (FinREC) as Audit and Accounting Guide (AAG-CECL).
- The FASB is not quite ready to put the finishing touches on its plan to improve the disclosures companies provide about their income taxes. The board wants to do more work on whether taxes paid on overseas earnings, even if the taxes are imposed by the U.S. government, should be listed as foreign taxes.
- The AICPA’s Auditing Standards Board (ASB) voted to finalize standards that would converge with standards issued in 2015 by the International Auditing and Assurance Standards Board (IAASB). The standards are expected to expand the auditor’s report and make it more useful to investors.
- The Financial Accounting Standards Board (FASB) issued 20 Accounting Standards Updates (ASUs) in 2018, including updates to ASC 842—Leases, various codification improvements and more.
- View our on-demand webinar to understand the impact tax reform has had, and continues to have, on hedge funds, private equity funds, management companies and general partnerships.
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