This installment of the Genuine Learning Blog includes two proposals from the FASB. One proposed ASU addresses three implementation issues identified in implementation of ASU 2016-02, Leases. The other proposal addresses the scope of reference rate reform. Both have short comment letter periods due to the very narrow scope of the standards.
“FASB Exposure Draft: Reference Rate Reform (Topic 848): Scope Refinement” (Comments due Nov. 13, 2020): https://fasb.org/cs/ContentServer?c=Document_C&pagename=FASB%2FDocument_C%2FDocumentPage&cid=1176175504129
“FASB Exposure Draft: Leases (Topic 842): Targeted Improvements” (Comments due Dec. 4, 2020): https://fasb.org/cs/ContentServer?c=Document_C&pagename=FASB%2FDocument_C%2FDocumentPage&cid=1176175406187
- What questions do you have? Send your questions to melisa@galassolearningsolutions.com
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SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members. Melisa will be a speaker on audit topics at SCACPA’s 2020 Virtual Fall Fest. She also takes part in many SCACPA seminars and rebroadcasts.
With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.
Read the Melisa Galasso A&A Interview: Private Company Council Member Jeremy Dillard and Standard-Setting Advocacy
