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SEC's Division of Corporation Finance Updates Its Financial Reporting Manual
Practical Law Legal Update w-001-6472 (Approx. 4 pages)
SEC's Division of Corporation Finance Updates Its Financial Reporting Manual
by Practical Law Corporate & Securities
| Published on 22 Mar 2016 • USA (National/Federal) |
The SEC's Division of Corporation Finance updated its Financial Reporting Manual.
On March 17, 2016, the SEC's Division of Corporation Finance published an updated version of its Financial Reporting Manual. The revised manual:
- Contains updated guidance on testing significance of equity method investments (Section 2410.8).
- Contains revisions to conform to the Fixing America's Surface Transportation Act (FAST Act) (Sections 1310.2, 10000, 10110.5, 10220.1, 10220.4, and 10220.5). For more information on the FAST Act, see the following Legal Updates:
- Adds new Topic 11 relating to the Financial Accounting Standards Board's (FASB) adoption of its new revenue recognition standard. For more information on the revenue recognition standard, see the following Legal Updates:
A summary of the revisions appears on page one of the revised manual. The revised sections are marked with the date tag "Last updated: 3/17/2016."
For more information on SEC financial reporting requirements, see Practice Note, Regulation S-X: What Lawyers Need to Know. For an overview of the sources of law and regulation of accounting, auditing and financial reporting, see Practice Note, Accounting, Auditing and Financial Reporting in the US: Governing Authorities.