Regulatory Alerts2017-08-29 | 2017-17912Added
Staff Accounting Bulletin No. 116
The Securities and Exchange Commission issued Staff Accounting Bulletin No. 116 to update interpretive guidance in the Staff Accounting Bulletin Series. The bulletin modifies existing rules to ensure consistency with the Financial Accounting Standards Board's ASC Topic 606 on revenue from contracts with customers. Specifically, it renders Topics 13 and 8 obsolete upon adoption of the new standard and clarifies the separate presentation of operating-differential subsidies in financial statements.
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