{"id":1440,"date":"2019-01-17T07:54:06","date_gmt":"2019-01-17T12:54:06","guid":{"rendered":"https:\/\/seci.wpenginepowered.com\/?p=1440"},"modified":"2019-01-17T07:54:06","modified_gmt":"2019-01-17T12:54:06","slug":"preparing-for-year-end-2018-number-eight-recent-guidance-from-the-office-of-the-chief-accountant","status":"publish","type":"post","link":"https:\/\/seciblog.pli.edu\/index.php\/preparing-for-year-end-2018-number-eight-recent-guidance-from-the-office-of-the-chief-accountant\/","title":{"rendered":"Preparing for Year-End 2018: Number Eight \u2013 Recent Guidance from the Office of the Chief Accountant"},"content":{"rendered":"

The staff in the SEC\u2019s Office of the Chief Accountant recently provided their insights on a number of issues based on recent consultations with companies, their auditors and other groups within the SEC.\u00a0 They shared these observations in speeches which you can find on this section of the SEC\u2019s webpage<\/a>.<\/p>\n

The issued discussed by the OCA staff included:<\/p>\n

Internal control over financial reporting (\u201cICFR\u201d) – evaluation of control deficiencies.<\/p>\n

Internal control over financial reporting (\u201cICFR\u201d) – preparation of material weakness disclosures.<\/p>\n

Internal control over financial reporting (\u201cICFR\u201d) – evaluation of operating effectiveness of controls<\/p>\n

New revenue standard (Topic 606) – observations on the identification of performance obligations<\/p>\n

New revenue standard (Topic 606) – evaluating the existence of a significant financing component.<\/p>\n

New revenue standard (Topic 606) – application of the principal versus agent guidance<\/p>\n

New revenue standard (Topic 606) – <\/a>identification of performance obligations<\/p>\n

New leases standard (\u201cTopic 842\u201d) – Lessee transition \u2013 minimum rental payment composition policies<\/p>\n

New leases standard (\u201cTopic 842\u201d) – Lessee transition \u2013 minimum rental payment measurement policies<\/p>\n

New leases standard (\u201cTopic 842\u201d) – Certain lessee and lessor costs<\/p>\n

New credit losses standard (\u201cTopic 326\u201d) – Accounting policy for loan charge-offs upon the adoption of the new credit losses standard<\/p>\n

New credit losses standard (\u201cTopic 326\u201d) – Application of subsequent events guidance following adoption of the new credit losses standard<\/p>\n

The shift from the London Interbank Offered Rate (LIBOR)<\/p>\n

If you are currently dealing with any of these issues you will find examples and the staff\u2019s positions on these issues in the related speeches.<\/p>\n

As always, your thoughts and comments are welcome!<\/p>\n","protected":false},"excerpt":{"rendered":"

The staff in the SEC\u2019s Office of the Chief Accountant recently provided their insights on a number of issues based on recent consultations with companies, their auditors and other groups within the SEC.\u00a0 They shared these observations in speeches which you can find on this section of the SEC\u2019s webpage. The issued discussed by the … Continue reading Preparing for Year-End 2018: Number Eight \u2013 Recent Guidance from the Office of the Chief Accountant<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[242],"tags":[],"coauthors":[154],"class_list":["post-1440","post","type-post","status-publish","format-standard","hentry","category-reporting"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/comments?post=1440"}],"version-history":[{"count":0,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1440\/revisions"}],"wp:attachment":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/media?parent=1440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/categories?post=1440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/tags?post=1440"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/coauthors?post=1440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}