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August 2017 » Current Developments in the Private...
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Norman Strauss, Susan Cosper, Patrick Durbin, Alison Spivey, and Bob Laux
The panel began with Cosper outlining recent changes at FASB and its priorities for 2017. She said that the standard on hedge accounting was due to be released over the summer. In addition, redeliberations on long-duration insurance contracts were scheduled to start in the second half of the year, as well as a focus on implementation of the new revenue recognition and credit loss standards. Durbin added that the exposure draft on revenue recognition for grants and contracts for not-for-profit entities was due out soon, and that it might have implications for for-profit companies as well.
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