SEC Financial Reporting Manual

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Financial Reporting Manual

SEC Division of Corporation Finance

December 2017

Division of Corporation Finance Financial Reporting Manual (UPDATED 12/1/2017)
This update contains revised guidance related to the pro forma impact of adopting new accounting standards; revised to address adoption of new accounting standards after EGC status is lost; and clarified effective dates for ASU No. 2014-09 and ASU No. 2016-02 for certain public business entities.

This Financial Reporting Manual was prepared by the staff of the Division of Corporation Finance. It is designed to be an internal reference document and to provide general guidance only to Division staff. Due to its highly informal nature, it does not necessarily contain a discussion of all material considerations necessary to reach a conclusion. With respect to any conflicts with authoritative or source material, the authoritative or source material governs. This Manual is not intended to, does not, and may not be relied upon to create any rights, substantive or procedural, enforceable at law by any party in any matter civil or criminal. Further, it is not, nor is it intended to be, published views or interpretations of the Division or the Office of the Chief Accountant, such as a Staff Accounting Bulletin. The information presented is not rules, regulations, or statements of the Commission, and the Commission has neither approved nor disapproved this information. The information included in this manual will be updated from time to time and positions may change. As a result, the information in this manual may not be current.