


FASB Staff Q&A: Not-for-Profit Grants and Contracts Standard
The FASB has issued a Staff Q&A that addresses two few frequently asked questions about the application of the limited discretion indicator and the accounting for cost-sharing provisions when implementing ASU 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. The Q&A addresses cost sharing provisions as well as budgets and its impact on whether these stipulations would qualify as conditions for contribution accounting.

Simplifying the Accounting for Income Taxes
As part of its Simplification Initiative, FASB has issued an Exposure Draft proposing changes to ASC Topic 740, Income Taxes. The proposal would simplify the accounting for income taxes by removing certain exceptions in the area of financial reporting for taxes. The...
Proposed ASU: Disclosure Requirements
FASB has issued an Exposure Draft for Disclosure Improvements on Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. The proposed amendments are intended to clarify or improve disclosure and presentation requirements of a...