Third Quarter Accounting and Financial Reporting Developments

In this publication, Crowe Horwath LLP professionals recap financial reporting developments from the third quarter of the 2017 calendar year. The Financial Accounting Standards Board issued three standards dealing with hedge accounting, simplification of financial instruments with down round features, and the SEC’s adoption date deferral as well as proposals related to not-for-profit entities, reorganizing existing consolidation guidance, land easements, and clarifying the recognition and measurement and lease accounting standards. In addition, the Securities and Exchange Commission focused on cyber matters, simplifying the capital formation process, and implementing the new major accounting standards.