Plugged In

Linda is a CPA living in Southwestern Ohio, working as a research accountant for an investor-owned publicly traded utility company. She specializes in implementing new FASB and SEC requirements and FAS 133 derivative issues. In her role at the utility she has encountered many issues and written many memos, so send in your implementation and derivative issues and Linda will help figure out an answer.

Latest posts

Aug
02
The FASB and the IASB both issued exposure drafts on Fair Value Measurements. If adopted this proposed ASU will more closely converge US GAAP with IFRS. No proposed effective date has been set yet, but comments are
Jun
28
The FASB and the IASB issued exposure drafts on FASC 220 – Comprehensive Income. The exposure draft proposes to eliminate two options for presenting Comprehensive Income and require a Statement of
Jun
11
ASU 2010-17 updates FASC 605 – Revenue Recognition and is effective for fiscal years beginning on or after June 15, 2010. This ASU adds a subtopic to FASC 605 concerning revenue recognition related to research and development pr
Jun
04
ASU 2010-13 is an update to FASC 718 – Compensation – Stock Compensation and is effective for fiscal years beginning on or after December 15, 2010. The ASU would have been considered an Emerging Issues Task Force (EITF) is
May
27
ASU 2010-11 – Scope Exception Related to Embedded Credit Derivatives is an update to FASC 815 – Derivatives and Hedging and is effective for fiscal quarters beginning after June 15, 2010. This ASU clarifies that the scope
May
21
ASU 2010-02 “Accounting and Reporting Decreases in Ownership of a Subsidiary – a Scope Clarification” updates FASC Topic 810 “Consolidation.” This ASU clarifies that FASC Subtopic 810-10 applies to
Mar
02
The FASB codified the AICPA subsequent event rules for periods ending after June 15, 2009. ASU 2010-09 was issued to change some of the guidance in the original codification and to clarify other portions. This ASU is effective im
Feb
22
These two ASUs do not change GAAP but make some clarifications and changes in terminology. Most of the changes are to change to the new Codification terminology including changing minority interest to non-controlling interest. Be
Feb
15
These two ASUs are very short and simply clarify current accounting guidance where the FASB and SEC have seen some variety in practice.
Feb
08
The FASB has already issued 8 new accounting standard updates this year.  Here is a summary of the 6th one.

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