Regulatory Alerts2018-01-11 | 2018-00352Added
Staff Accounting Bulletin No. 117
The Securities and Exchange Commission issued Staff Accounting Bulletin No. 117 to update interpretive guidance in the Staff Accounting Bulletin Series. The bulletin modifies existing guidance to ensure consistency with the Financial Accounting Standards Board Accounting Standards Codification Topic 321 regarding investments in equity securities. Specifically, the staff eliminates Topic 5.M, which addressed other-than-temporary impairment, because ASC Topic 321 requires changes in fair value for equity securities to be recognized in net income rather than other comprehensive income.
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