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Diane Kirk Curt Hurd
January 30, 2019 Article 1 min read
Download our year-end update for an overview of important activities for private companies.

Business people meeting. 

This update provides a summary of some of the more important year-end 2018 accounting and financial reporting activities for private companies. The content is not meant to be all-inclusive.

Topics include:

  • Accounting Guidance Issued in Fourth Quarter 2018    
    • Narrow scope improvements for lessors
    • Codification Improvements to Topic 326
    • Clarifying the Interaction between ASC Topics 808 and 606
    • Targeted Improvements to Related Party Guidance for Variable Interest Entities
    • Hedge Accounting - Addition of New Benchmark Interest Rate
  • New Revenue Recognition Rules (ASC Topic 606) – Effective Calendar Year 2019
  • New Lease Standard (ASC Topic 842) – Effective Calendar Year 2020
  • Measurement of Credit Losses on Financial Instruments (ASC Topic 326)
  • Standards Effective Calendar Year 2018
  • Accounting Guidance Eligible for Early Adoption in Calendar Year 2018
  • Standards Issued in 2018
  • Standards Issued in Prior Years Effective 2018 or After

Archived accounting updates for private companies: