Accounting Standards Update No. 2018-02

Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income   Reading time: 1 minute 5 seconds On December 22, 2017, the Tax Cuts and Jobs Act was enacted, reducing the federal income tax … Continued

ASU No. 2015-06 – Earnings Per Share

ASU No. 2015-06 standardizes the calculation of historical earnings per share related to dropdown transactions for Master Limited Partnerships (MLPs), partnerships where interests are publically traded. The issue was not addressed in Topic 260 Earnings Per Share and so in practice, there are a variety of methods being used; ASU No. 2015-06 should eliminate the variety.