Checkpoint Catalyst: US GAAP

Adapt to a changing business landscape

Checkpoint Catalyst™: US GAAP is the next generation of online research that gives practical insight and expertise on accounting topics that are complex, undergoing changes or challenging to apply — business combinations, consolidation, financial instruments, leases and revenue recognition. Research is approached from a fresh, new perspective where content is always delivered in context along with powerful insight into related issues — so you’ll never miss an important detail.

The Next Generation of Online Research

Jumpstart your research with source materials, diagrams, interactive tools and featured developments that come together in context with analysis, giving you actionable next steps and helping you get to outcomes faster.

  • Topics can be expanded or collapsed to provide a landscape perspective as well as the ability to drill down into detail depending on the needs of the user.
  • Practical real-life examples included throughout the Topics explain the logic of the standards and help you put knowledge into action.
  • Interactive tools, diagrams and decision trees help you get the full picture on how to apply the standards to a particular situation.
  • Detailed analysis and illustrations for specific industries or instruments are discussed directly within the Topic, not treated separately — clarifying grey areas and reducing the risk that something important is missed.
  • Recent developments are presented in context of the Topic to keep researchers up-to-date on important developments or to call them into focus as a quick refresher on recent changes.
  • Content works in concert with the rest of your Checkpoint library, so you can easily go to other sources to cross-check the discussion.

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Free special report

Financial Instruments — Impairment

Financial instruments are prevalent across all industries and entities. Examples of financial instruments are loans, receivables (including trade receivables) and securities. These instruments are subject to complex accounting rules on impairment, which ensure that financial instruments are not overvalued in an entity’s financial statements. This special report explores the new current expected credit loss model for financial instruments under US GAAP and will help you assist entities and professionals with understanding and applying the new impairment guidelines.

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Checkpoint Catalyst: US GAAP is a collection of Topics that examine specific accounting issues from a practical, workflow perspective, including:

Business Combinations
  • Provides extensive accounting and reporting guidance for business combinations under US GAAP, included in Topic 805, Business Combinations, of the FASB Accounting Standards Codification
  • Designed to help entities navigate technical areas of the Codification, such as consolidation, fair value measurements, income taxes and share-based payments
  • Covers key questions encountered in each step of accounting for a business combination, such as when to use the acquisition method, determining the acquisition date and measurement period, subsequent measurement, disclosure rules and more.
  • Includes hundreds of illustrations, examples and charts that show how to implement relevant FASB standards and, where appropriate, apply judgment and estimates to complicated areas and concepts
  • Designed to help practitioners navigate the accounting intricacies related to FASB Accounting Standards Update No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis
  • Alerts readers to changes such as revisions to the analysis for interests in limited partnerships and similar entities, how fees and related party relationships affect the analysis of interests in variable interest entities (VIEs) and a new scope exception for interests in legal entities subject to Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds
  • Focuses particular attention on the complex area of VIEs, including detailed examples and illustrations on how to scope and identify variable interests and VIEs and how to determine the primary beneficiary
  • Provides extensive guidance on key concepts in applying the VIE guidance including date of evaluation, equity at risk, expected losses and expected residual returns, kick-out and participating rights and related parties, including de facto agents
  • Makes use of over 50 charts and diagrams
Financial Instruments — Classification and Measurement
  • Helps entities understand and apply the rules on classification and measurement of financial instruments
  • Covers a wide range of topics including classification and measurement of common instruments such as loans, receivables, securities and financial liabilities, as well as specialty topics like cost method and equity method investments, embedded derivatives, the fair value option and troubled debt restructurings.
  • Includes detailed coverage on specific types of instruments such as acquisition, development and construction arrangements; callable debt; convertible debt; insurance contracts and more
  • Makes use of over 120 charts and diagrams
Financial Instruments — Impairment
  • Designed to help entities understand the new expected credit loss model under the FASB’s Accounting Standards Update (ASU) No. 2016-13, Financial Instruments — Credit Losses (Topic 326) makes substantial changes to the accounting for impairment of financial instruments.
  • Provides extensive guidance on how to apply the new current expected credit loss (CECL) model to loans, receivables and other financial assets that are measured at amortized cost
  • Covers major improvements to the impairment guidance for available-for-sale debt securities
  • Includes important information about the accounting for purchased financial assets with credit deterioration and notable revisions to the guidance for beneficial interests
  • Examines enhanced disclosure requirements and detailed transition guidance
  • Outlines the key differences between the respective IFRS and US GAAP standards for impairment of financial instruments
  • Includes examples, diagrams and charts to help entities implement the new standard, including areas that require significant management judgment and estimates
  • Designed to help practitioners navigate the FASB’s Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842) that significantly changed the way companies account for leases
  • Employs numerous practice aids to make analyzing and planning for changes easier and addresses all ASU changes, including the requirement to record lease assets and lease liabilities on the balance sheet and make key disclosures about these arrangements
  • Covers accounting by lessees and accounting by lessors as well as commonly-encountered situations, such as exercising an option to purchase or renew a lease or to terminate a lease early, lease classification, lease modifications, built-to-suit leases, sale-leasebacks and related party leases
  • Examines disclosure issues for lessees and lessors, providing detailed transition guidance
  • Outlines key differences between IFRS and GAAP treatment of leases under their respective new standards
Revenue Recognition
  • Organized around the five steps for revenue recognition and measurement that are at the core of the new standard
  • Features coverage of related topics such as contract modification, contract costs, presentation, disclosure and adoption
  • Includes industry specific practice guides for heavily impacted industries such as software, telecommunications, retail and more
  • Offers detailed implementation guides for specific types of contracts
  • Makes use of over 150 charts and diagrams