Thomson Reuters Releases Checkpoint Catalyst US GAAP Update

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Thomson Reuters released a content update to the Checkpoint Catalyst tool to help professionals comply with the financial reporting requirements set by the Financial Accounting Standards Board.

As FASB is expected to issue a final standard in late 2015 to make targeted improvements to existing Generally Accepted Accounting Principles, the new Checkpoint Catalyst: US GAAP content examines specific accounting issues from practical and workflow perspectives and focuses on areas like 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,” stated Anne-Lise Vivier, accounting publications managing editor with the Tax & Accounting business of Thomson Reuters. “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.”

Checkpoint Catalyst’s US GAAP library includes a title covering the rules and principles regarding the classification and measurement of financial instruments and also covers cost method and equity method investments, embedded derivatives, fair value option and troubled debt restructurings.

More information on Checkpoint Catalyst: US GAAP is available here.

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