[AlexCPA]

Does anyone have more information on this? Are unusual or infrequent items still disclosed separately? Do these extraordinary items go under continuing operations now?

FINANCIAL ACCOUNTING & REPORTING (FAR)

Due to Accounting Standards Update 2015-01 issued by the FASB in January 2015, which eliminates the concept of extraordinary and unusual items from U.S. GAAP, ‘Going Concern’ will replace ‘Extraordinary and Unusual Items’ in the Specific Transactions, Events and Disclosures area of the FAR Content Specification Outline (CSO). The AICPA has explicitly stated the elimination of extraordinary and unusual items will not become effective on the exam until Q1 2016.

FAR - 89
AUD - 88
REG - TBD
BEC - TBD

Using Becker and Ninja MCQ

[jeff]

If you have the ninja updates in a week or so, you're good to go.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Author]

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