In this section, we provide brief updates from the previous quarter on regulatory developments in auditing and accounting that may impact Japanese companies in the United States. Further discussion of the issues can be found in KPMG's Department of Professional Practice's Defining Issues.
KPMG reports on a proposed ASU which provides a practical expedient for nonpublic entities to determine the fair value of their share option awards.
Defining Issues 20-09 (PDF)
KPMG reports on ASU 2020-061, which reduces the number of accounting models for convertible instruments and allows more contracts to qualify for equity classification.
Defining Issues 20-08 (PDF)
KPMG reports on the FASB’s July 29, 2020 meeting at which the Board decided to propose amendments to the new leases standard and add narrow-scope projects to its technical agenda.
Defining Issues 20-07 (PDF)
KPMG reports that the FASB tentatively decided to defer the effective date for long-duration insurance contracts and align both the adoption and early adoption transition dates.
Defining Issues 20-06 (PDF)
KPMG reports on the SEC’s amendments intended to improve financial information about business acquisitions and dispositions.
Defining Issues 20-05 (PDF)
FASB issues final ASU deferring the effective dates of the leases and revenue standards for certain entities because of COVID-19.
Defining Issues 20-04 (PDF)
For more information, please contact:
Michael Maekawa | +1 213-955-8331 | email@example.com
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.