A&A news from around the web: Jan. 2 – 5, 2018

Written on Jan 04, 2018

FASB combines guidance on income into Topic 220
Among its ongoing codification simplification chores, FASB has combined its guidance for income statements and comprehensive income into Topic 220. Until now, guidance on these topics had been separated into Topic 225, Income Statement, and Topic 220, Comprehensive Income.

Disrupting the private company audit
Breakthrough innovations like augmented and virtual reality, artificial intelligence and blockchain have the potential to disrupt commercial markets and impact many areas of a company’s business. What many companies don’t realize, however, is that audit is taking advantage of innovation and they can benefit from that in the audit process.

 

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