SEC Staff Updates Financial Reporting Manual

The SEC’s Division of Corporation Finance has published an update to its Financial Reporting Manual (FRM).

The revisions include:

• Removal of Sections 1610, 2030.1, and 2030.3.
• Updates to Topic 2 and Section 2020.1 to “clarify application of Rule 3-13 and Note 5 to Rule 8-01 of Regulation S-X.”
• Consolidation of Section 5240 with the note to Topic 2.
• Amendments to Section 10110 to change the “revenue threshold for EGCs pursuant to SEC Release 33-10332.”
• Technical amendments to Sections 11100 and 11200 to replace references to ASU 2014-09 and ASU 2016-02 with those to ASC topics.

For more information, see the FRM on the SEC’s Web site.