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The Deloitte Accounting Research Tool (DART) is a comprehensive web-based library of accounting and financial disclosure literature.

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***COVID-19 Resources***Roadmaps US GAAP SEC Key Dates Recent Deloitte Publications

Roadmap: Hedge Accounting (October 2021)

Roadmap: Comparing IFRS Standards and U.S. GAAP: Bridging the Differences (October 2021)

Heads Up — U.S. Regulatory and Standard-Setting Activities Related to Group Audits (October 15, 2021)

Roadmap: Impairments and Disposals of Long-Lived Assets and Discontinued Operations (October 2021)

Roadmap: Equity Method Investments and Joint Ventures (October 2021)

Roadmap: SEC Reporting Considerations for Equity Method Investees (October 2021)

Financial Reporting Alert 21-1, Financial Reporting Considerations Related to Environmental Events and Activities (September 30, 2021)

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Find the IFRS Content

October 21, 2021

On the Radar — Hedge Accounting

Some entities mitigate certain risks by entering into separate contracts that meet the definition of a derivative instrument. For such circumstances, ASC 815 allows entities to use a specialized hedge accounting for qualified hedging relationships. If hedge accounting is not applied, changes in the fair values of derivative instruments are recognized in earnings in each reporting period, which may or may not match the period in which the risks that are being hedged affect earnings. Therefore, the objective of hedge accounting is to match the timing of income statement recognition of the effects of the hedging instrument with the timing of recognition of the hedged risk.

October 21, 2021

Roadmap: Hedge Accounting

This Roadmap provides an overview of the FASB’s authoritative guidance on hedge accounting in ASC 815 as well as our insights into and interpretations of how to apply that guidance in practice. Hedge accounting guidance is a complex aspect of GAAP developed over many years in response to constituents’ requests for interpretive guidance. This Roadmap is intended to help entities navigate that accounting and financial reporting guidance, reduce complexity, and arrive at appropriate accounting conclusions.

October 20, 2021

Audit Committee Brief Newsletter — October 2021

The Audit Committee Brief focuses on the timely coverage of issues and insights important to audit committees.

October 20, 2021

FASB and ASBJ Hold Biannual Meeting

On October 18–19, 2021, the FASB held a virtual meeting with the Accounting Standards Board of Japan (ASBJ).

October 19, 2021

GASB Statement No. 98, The Annual Comprehensive Financial Report

The GASB has issued Statement No. 98, The Annual Comprehensive Financial Report.

October 19, 2021

GASB Changes Report Name to “Annual Comprehensive Financial Report”

The GASB has issued Statement No. 98, The Annual Comprehensive Financial Report. Statement 98 “changes the name of the most extensive report prepared following its standards to the annual comprehensive financial report or ACFR . . . and eliminates the prior name and acronym.”

October 18, 2021

FASAC Holds September Meeting

At its September 30, 2021, meeting, the FASB’s Financial Accounting Standards Advisory Council (FASAC) addressed the FASB’s investor outreach process and “discussed the history and background of the financial performance reporting project and provided initial feedback about income statement disaggregation.”

October 15, 2021

On the Radar — Comparing IFRS Standards and U.S. GAAP: Bridging the Differences

Although U.S. GAAP and IFRS® Standards are built on largely similar concepts and often lead to similar accounting outcomes, there are many differences in the specific accounting requirements. Therefore, it can be difficult to directly compare financial statements that have been prepared under these different standards. Accordingly, professionals need to be mindful of the differences between U.S. GAAP and IFRS Standards when preparing, aggregating, consolidating, comparing, or interpreting financial information that involves both sets of accounting standards.

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October 19, 2021

GASB Changes Report Name to “Annual Comprehensive Financial Report”

October 18, 2021

FASAC Holds September Meeting

October 15, 2021

FASB Holds October 13 Meeting

At its October 13, 2021, meeting, the FASB discussed its projects on (1) segment reporting, (2) conceptual framework — measurement, (3) joint venture formations, (4) Codification improvements to credit losses, and (5) targeted improvements — troubled debt restructuring for creditors.

October 14, 2021

SEC Reopens Comment Period for Proposals on Listing Standards for Recovery of Erroneously Awarded Compensation

The SEC has announced that it is reopening the comment period for its proposed rule Listing Standards for Recovery of Erroneously Awarded Compensation (released in 2015).

October 13, 2021

SEC Amends Rules on Filing Fee Disclosure and Payment Methods

The SEC has issued a final rule, "Filing Fee Disclosure and Payment Modernization."

October 8, 2021

PCAOB Issues Guidance on Evaluating Relevance and Reliability of Audit Evidence Obtained From External Sources

The PCAOB has issued Staff Guidance — Insights for Auditors, "Evaluating Relevance and Reliability of Audit Evidence Obtained From External Sources."

October 7, 2021

FASB Discusses Recognition and Measurement of Revenue Contracts With Customers Under ASC 805

At its October 6, 2021, meeting, the FASB addressed a “sweep issue that was identified during the drafting of final Accounting Standards Update, Business Combinations.”

October 1, 2021

SEC Seeks Feedback on Possible Changes to EDGAR Filer Access and Account Management Processes

The SEC has issued a request for comment, "Potential Technical Changes to EDGAR Filer Access and Filer Account Management Processes."

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