2018年-普华永道全球_EITF_observer_5页_230kb

报告摘要

EITF Observer Summary: September 27, 2018 Meeting

Core Content Overview

The September 27, 2018 EITF meeting addressed two key issues related to revenue recognition and accounting for episodic television series. The discussions aimed to align accounting guidance with evolving industry practices and address inconsistencies in current standards.

Issue 18-A: Recognition under Topic 805 for an Assumed Liability in a Revenue Contract

Background

In March 2018, the FASB requested the EITF to address the recognition of assumed liabilities in revenue contracts acquired in a business combination. The existing guidance under ASC 606 was seen as leading to diverse interpretations, with some stakeholders advocating for recognizing only legal obligations as liabilities, while others supported recognizing performance obligations.

Key Points

The Task Force initially reached a consensus-for-exposure in June 2018, which included:
1. Using the ASC 606 definition of performance obligation to determine liability recognition.
2. Avoiding the use of a carryover basis for measuring assumed liabilities.
3. The timing of payment terms should not affect revenue recognition.
4. Considering assets and liabilities in the acquired set when determining fair value.
However, in September 2018, the Task Force reversed the second, third, and fourth consensuses, recognizing potential unintended consequences and the need for further research.

Next Steps

The Task Force will issue a proposed ASU on the first item (performance obligation definition) and a discussion paper on the remaining items.
The discussion paper will seek input on fair value measurement factors, such as payment terms, intellectual property (IP) differences, exclusivity, and their impact on other assets and liabilities.
Both the ASU and discussion paper will be released simultaneously, with the Task Force considering feedback in future meetings.

Issue 18-B: Improvements to Accounting for Episodic Television Series

Background

The FASB asked the EITF to evaluate whether the cost capitalization guidance for episodic television series in ASC 926-20 remains appropriate given changes in the media and entertainment industry. The Task Force was also tasked with reviewing amortization, impairment, and disclosure requirements.

Key Points

Impairment Guidance:
- The unit of account for impairment will be the lowest level for which identifiable cash flows are largely independent.
- If content does not have independent cash flows, developed films and licensed content will be treated as a single unit of account.
- A predominance concept will be introduced to define a film group based on the primary monetization strategy.
Amortization Guidance:
- Entities not using the individual film forecast method must review and revise usage estimates each reporting period.
- Changes in estimates must be accounted for prospectively.
- The Task Force confirmed its tentative decision from June 2018 to maintain the current amortization guidance.
Presentation and Disclosure:
- The Task Force agreed to remove classification requirements in ASC 926-20 and ASC 920-350, allowing entities to use judgment based on specific circumstances.
- Licensed content will be classified as current or noncurrent depending on the estimated time of usage.
- Entities must separately present licensed content from produced content on the balance sheet.
- Additional disclosure requirements will be added to ASC 926-20 and applied to content subject to ASC 920-350.
Transition:
- Prospective transition is required, with entities disclosing:
  - The nature and reasons for the change in accounting principle.
  - The transition method.
  - A qualitative description of the affected financial statement line items.
Private Company Considerations:
- All proposed amendments will apply to private companies.

Summary of Key Outcomes

Issue 18-A:
- Reversed some initial consensuses due to potential unintended consequences.
- Emphasized the need for further research and input on fair value measurement of assumed liabilities.
Issue 18-B:
- Aimed to align episodic content accounting with film accounting.
- Introduced changes to impairment, amortization, and disclosure requirements.
- Maintained the distinction between licensed and produced content in presentation.
Next Steps:
- Proposed ASU and discussion paper will be issued if ratified by the FASB.
- Feedback will be considered in future meetings to determine final guidance.