Thomson Reuters has added content to its Checkpoint Catalyst research system on the Financial Accounting Standards Board’s financial reporting requirements.

The new Checkpoint Catalyst: US GAAP content examines specific accounting issues, focusing on areas such as revenue recognition and the classification and measurement of financial instruments.

“Due to the widespread use and complexity of financial instruments, it is important for preparers, auditors, and users of financial statements to be aware of the relevant accounting rules,” said Anne-Lise Vivier, accounting publications managing editor with the Tax & Accounting business of Thomson Reuters, in a statement. “Our new content provides extensive analysis of concepts as well as graphics to illustrate processes and ideas, calculations, observations, examples, and sample disclosures to clarify the issues and enhance understanding.”

The U.S. GAAP library on Checkpoint Catalyst includes a title covering the rules and principles regarding the classification and measurement of financial instruments and delves into subjects such as cost method and equity method investments, embedded derivatives, fair value option and troubled debt restructurings. Another title focuses on the new revenue recognition standard. It presents the five-step model at the core of the new guidance and analysis of related matters such as contract modification, presentation, disclosure and transition.

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