Accounting Research Tool

Year in Review — 2017

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Quarterly Accounting Roundup — Year in Review — 2017

Welcome to Quarterly Accounting Roundup: Year in Review — 2017. Notable standards issued by the FASB in 2017 include Accounting Standards Updates (ASUs) that:
  • Clarify the definition of a business.
  • Amend the scope of modification accounting for share-based payment arrangements.
  • Amend the guidance on presentation of net periodic benefit cost related to defined benefit plans.
  • Amend the guidance on derecognition and partial sales of nonfinancial assets.
  • Simplify the goodwill impairment test.
  • Make targeted improvements to the hedge accounting requirements.