Updates to standards and other news

While some people were taking summer breaks, FASB has been busy in the past two months. It has published an Accounting Standards Update (ASU) as the culmination of its work on long-term insurance contracts, an ASU on cloud-computing arrangements and other changes to improve the effectiveness of disclosures. Information about the latest developments is included below and a further article on the recent meeting between the FASB and the IASB is in the News and analysis section.