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Date: Wed, 12 Jul 2017 09:30:52 -0700 (PDT)
From: Audit & Assurance Alerts <aaalerts@windes.com>
Reply-To: Audit & Assurance Alerts <aaalerts@windes.com>
To: Marty Cervone <marty@transocean.com>
Message-ID: <VUXUCTXYAX$UXCCBAATYVZZV@mail-out.est.act-on.net>
Subject: Audit & Assurance News - July 2017
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/ct0_1/1?sid=3DTV2%3AycgwGDxZk
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AUDIT & ASSURANCE NEWS - JULY 2017

Dear Valued Clients and Friends,

Windes is pleased to provide you with important news from our Audit &=20
Assurance practice. We hope that this value-added service is useful to=20
you.

Sincerely,

Scott Dionne

http://windes.com/about/windes-leadership/scott-j-dionne-cpa/

Chairman and Partner

Audit & Assurance Services

sdionne@windes.com

Quick Links

Windes

http://windes.com/

http://windes.com/services/#tax

Audit

http://windes.com/services/

Tax

http://windes.com/services/tax

Employee Benefit Services

http://windes.com/services/advisory/employee-benefit-services/

http://windes.com/careers.html?page=3Dcareers

Careers

http://windes.com/careers/

http://windes.com/careers.html?page=3Dcareers

http://windes.com/about.html?page=3Dabout

About Us

http://windes.com/about.html?page=3Dabout

http://windes.com/about.html?page=3Dabout

http://windes.com/intelligence/brochures/

Contact Us

http://windes.com/contact-us/

http://windes.com/intelligence/brochures/

Solutions

http://windes.com/wp-content/uploads/2014/03/2017-Q2-Solutions.pdf

http://windes.com/intelligence/brochures/

Brochures=20

http://windes.com/intelligence/brochures/

=C2=A9 2017 Windes, Inc.

FASB proposes changes to consolidation guidance

The Financial Accounting Standards Board (FASB) has proposed an=20
accounting standards update to reduce the cost and complexity of=20
financial reporting related to the consolidation of variable interest=20
entities, based on recommendations from FASB's sister organization, the=20
Private Company Council. read more

https://www.accountingtoday.com/news/fasb-proposes-changes-to-consolidation=
-guidance

Accounting Today

AICPA proposes framework for financial instruments valuation

The American Institute of CPAs (AICPA) has unveiled an exposure draft of=20
a new framework to help CPAs and other financial professionals perform=20
valuations of financial instruments such as derivatives, along with=20
their underlying components. read more

https://www.accountingtoday.com/news/aicpa-proposes-framework-for-financial=
-instruments-valuation

Accounting Today

FASB proposes superseding guidance for S&L bad debt reserves, steamship=20
entities

The Financial Accounting Standards Board (FASB) recently issued two=20
proposals designed to make technical corrections to its Accounting=20
Standards Codification. read more

https://www.journalofaccountancy.com/news/2017/jun/fasb-guidance-for-bad-de=
bt-steamship-entities-201716956.html?utm_source=3Dmnl:cpald&utm_medium=3Dem=
ail&utm_campaign=3D28Jun2017

Journal of Accountancy

GASB establishes new approach for reporting leases

The Governmental Accounting Standards Board (GASB) established a single=20
approach to accounting for and reporting leases by local and state=20
governments in a new statement recently issued. read more

http://www.journalofaccountancy.com/news/2017/jun/gasb-lease-accounting-rul=
es-201716968.html?utm_source=3Dmnl:cpald&utm_medium=3Demail&utm_campaign=3D=
29Jun2017

Journal of Accountancy

FinREC unveils 4 more revenue recognition working drafts

The American Institute of CPAs (AICPA) Financial Reporting Executive=20
Committee (FinREC) recently issued another batch of working drafts of=20
accounting issues related to the implementation of the Financial=20
Accounting Standards Board's (FASB) new revenue recognition standard.=20
read more

http://www.journalofaccountancy.com/news/2017/jul/finrec-revenue-recognitio=
n-working-drafts-201716994.html?utm_source=3Dmnl:cpald&utm_medium=3Demail&u=
tm_campaign=3D05Jul2017

Journal of Accountancy

If you have any questions regarding the above information, please=20
contact us at aaalerts@windes.com or any audit & assurance professional=20
at:

Headquarters

562.435.1191

Orange County Office

949.271.2600

Los Angeles Office

213.239.9745

Sincerely,

Windes Audit & Assurance Services

Share this content=20

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About Windes

With 91 years in business, Windes has more than 150 professionals in=20
three offices located in Long Beach, Irvine, and Los Angeles. The firm=20
offers a full range of services, including: audit and assurance, cost=20
segregation, employee benefits, estate and trust planning, human=20
resources recruiting and consulting, and tax planning, consulting and=20
compliance. The firm focuses on the needs of privately held businesses,=20
nonprofit organizations, and high-net-worth individuals. Windes is an=20
independent member of Baker Tilly International.

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img[class=3Ddevicewidthborder]=09=09=09=09{width: 375px!important;}
td[class=3Dmilogo] img                        {max-width: 375px!important; =
height:auto!important;}
td[class=3Dmologo] img                        {max-width: 375px!important; =
height:auto!important;}
td[class=3Dmiheader] img                      {max-width: 375px!important; =
height:auto!important;}
td[class=3Dmoheader] img                      {max-width: 375px!important; =
height:auto!important;}
td[class=3Dmifooter] img                      {max-width: 375px!important; =
height:auto!important;}
td[class=3Dmofooter] img                      {max-width: 375px!important; =
height:auto!important;}
td[class=3Dmiheader], td[class=3Dmiheader] table    {width: 375px!important=
;}
td[class=3Dmoheader], td[class=3Dmoheader] table    {width: 375px!important=
;}
td[class=3Dmifooter], td[class=3Dmifooter] table    {width: 375px!important=
;}
td[class=3Dmofooter], td[class=3Dmofooter] table    {width: 375px!important=
;}
}

/*##############################################*/
/*PHONE STYLES*/
/*##############################################*/
@media only screen and (max-width: 374px) {
a[href^=3D"tel"], a[href^=3D"sms"] {
text-decoration: default;
color: inherit;
pointer-events: none;
cursor: default;
}
.mobile_link a[href^=3D"tel"], .mobile_link a[href^=3D"sms"] {
text-decoration: default;
color: #ffffff !important;
pointer-events: auto;
cursor: default;
}
td[class=3Ddevicewidth] img=09=09=09=09=09{max-width: 280px!important; heig=
ht: auto!important;}
td[class=3Ddevicewidthouter] img=09=09=09=09{max-width: 280px!important; he=
ight: auto!important;}
td[class=3Ddevicewidth] img:not([width])=09=09{width: auto!important;}
td[class=3Ddevicewidthouter] img:not([width])=09{width: auto!important;}
table[class=3Ddevicewidth]=09=09=09=09=09{width: 280px!important;}
div[class=3Ddevicewidth]=09=09=09=09=09=09{width: 280px!important;}
td[class=3Ddevicewidth]=09=09=09=09=09=09{width: 280px!important; display: =
table!important;}
td[class=3Ddevicewidthtable]=09=09=09=09=09{width: 280px!important;}
img[class=3Ddevicewidth]=09=09=09=09=09=09{width: 280px!important;}
table[class=3Ddevicewidthouter]=09=09=09=09{width: 280px!important;}
div[class=3Ddevicewidthouter]=09=09=09=09=09{width: 280px!important;}
td[class=3Ddevicewidthouter]=09=09=09=09=09{width: 280px!important;}
img[class=3Ddevicewidthouter]=09=09=09=09=09{width: 280px!important;}
table[class=3Ddevicewidthborder]=09=09=09=09{width: 280px!important;}
div[class=3Ddevicewidthborder]=09=09=09=09{width: 280px!important;}
td[class=3Ddevicewidthborder]=09=09=09=09=09{width: 280px!important;}
img[class=3Ddevicewidthborder]=09=09=09=09{width: 280px!important;}
td[class=3Dmilogo] img                        {max-width: 280px!important; =
height:auto!important;}
td[class=3Dmologo] img                        {max-width: 280px!important; =
height:auto!important;}
td[class=3Dmiheader] img                      {max-width: 280px!important; =
height:auto!important;}
td[class=3Dmoheader] img                      {max-width: 280px!important; =
height:auto!important;}
td[class=3Dmifooter] img                      {max-width: 280px!important; =
height:auto!important;}
td[class=3Dmofooter] img                      {max-width: 280px!important; =
height:auto!important;}
td[class=3Dmiheader], td[class=3Dmiheader] table    {width: 280px!important=
;}
td[class=3Dmoheader], td[class=3Dmoheader] table    {width: 280px!important=
;}
td[class=3Dmifooter], td[class=3Dmifooter] table    {width: 280px!important=
;}
td[class=3Dmofooter], td[class=3Dmofooter] table    {width: 280px!important=
;}
}

@media only screen and (max-width: 640px) {
td[class=3Ddevicewidth] .mcol1 { width: 440px!important; }
td[class=3Ddevicewidth] .mcol1 img { max-width: 440px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol2 { width: 440px!important; }
td[class=3Ddevicewidth] .mcol2 img { max-width: 440px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol3 { width: 440px!important; }
td[class=3Ddevicewidth] .mcol3 img { max-width: 440px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol4 { width: 430px!important; }
td[class=3Ddevicewidth] .mcol4 img { max-width: 430px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol5 { width: 440px!important; }
td[class=3Ddevicewidth] .mcol5 img { max-width: 440px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol6 { width: 440px!important; }
td[class=3Ddevicewidth] .mcol6 img { max-width: 440px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol7 { width: 440px!important; }
td[class=3Ddevicewidth] .mcol7 img { max-width: 440px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol8 { width: 440px!important; }
td[class=3Ddevicewidth] .mcol8 img { max-width: 440px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol9 { width: 440px!important; }
td[class=3Ddevicewidth] .mcol9 img { max-width: 440px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol10 { width: 440px!important; }
td[class=3Ddevicewidth] .mcol10 img { max-width: 440px!important;height: au=
to!important; }
td[class=3Ddevicewidth] .mcol11 { width: 440px!important; }
td[class=3Ddevicewidth] .mcol11 img { max-width: 440px!important;height: au=
to!important; }
}
@media only screen and (max-width: 440px) {
td[class=3Ddevicewidth] .mcol1 { width: 414px!important; }
td[class=3Ddevicewidth] .mcol1 img { max-width: 414px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol2 { width: 414px!important; }
td[class=3Ddevicewidth] .mcol2 img { max-width: 414px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol3 { width: 414px!important; }
td[class=3Ddevicewidth] .mcol3 img { max-width: 414px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol4 { width: 404px!important; }
td[class=3Ddevicewidth] .mcol4 img { max-width: 404px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol5 { width: 414px!important; }
td[class=3Ddevicewidth] .mcol5 img { max-width: 414px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol6 { width: 414px!important; }
td[class=3Ddevicewidth] .mcol6 img { max-width: 414px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol7 { width: 414px!important; }
td[class=3Ddevicewidth] .mcol7 img { max-width: 414px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol8 { width: 414px!important; }
td[class=3Ddevicewidth] .mcol8 img { max-width: 414px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol9 { width: 414px!important; }
td[class=3Ddevicewidth] .mcol9 img { max-width: 414px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol10 { width: 414px!important; }
td[class=3Ddevicewidth] .mcol10 img { max-width: 414px!important;height: au=
to!important; }
td[class=3Ddevicewidth] .mcol11 { width: 414px!important; }
td[class=3Ddevicewidth] .mcol11 img { max-width: 414px!important;height: au=
to!important; }
}
@media only screen and (max-width: 375px) {
td[class=3Ddevicewidth] .mcol1 { width: 375px!important; }
td[class=3Ddevicewidth] .mcol1 img { max-width: 375px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol2 { width: 375px!important; }
td[class=3Ddevicewidth] .mcol2 img { max-width: 375px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol3 { width: 375px!important; }
td[class=3Ddevicewidth] .mcol3 img { max-width: 375px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol4 { width: 365px!important; }
td[class=3Ddevicewidth] .mcol4 img { max-width: 365px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol5 { width: 375px!important; }
td[class=3Ddevicewidth] .mcol5 img { max-width: 375px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol6 { width: 375px!important; }
td[class=3Ddevicewidth] .mcol6 img { max-width: 375px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol7 { width: 375px!important; }
td[class=3Ddevicewidth] .mcol7 img { max-width: 375px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol8 { width: 375px!important; }
td[class=3Ddevicewidth] .mcol8 img { max-width: 375px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol9 { width: 375px!important; }
td[class=3Ddevicewidth] .mcol9 img { max-width: 375px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol10 { width: 375px!important; }
td[class=3Ddevicewidth] .mcol10 img { max-width: 375px!important;height: au=
to!important; }
td[class=3Ddevicewidth] .mcol11 { width: 375px!important; }
td[class=3Ddevicewidth] .mcol11 img { max-width: 375px!important;height: au=
to!important; }
}
@media only screen and (max-width: 374px) {
td[class=3Ddevicewidth] .mcol1 { width: 280px!important; }
td[class=3Ddevicewidth] .mcol1 img { max-width: 280px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol2 { width: 280px!important; }
td[class=3Ddevicewidth] .mcol2 img { max-width: 280px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol3 { width: 280px!important; }
td[class=3Ddevicewidth] .mcol3 img { max-width: 280px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol4 { width: 270px!important; }
td[class=3Ddevicewidth] .mcol4 img { max-width: 270px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol5 { width: 280px!important; }
td[class=3Ddevicewidth] .mcol5 img { max-width: 280px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol6 { width: 280px!important; }
td[class=3Ddevicewidth] .mcol6 img { max-width: 280px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol7 { width: 280px!important; }
td[class=3Ddevicewidth] .mcol7 img { max-width: 280px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol8 { width: 280px!important; }
td[class=3Ddevicewidth] .mcol8 img { max-width: 280px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol9 { width: 280px!important; }
td[class=3Ddevicewidth] .mcol9 img { max-width: 280px!important;height: aut=
o!important; }
td[class=3Ddevicewidth] .mcol10 { width: 280px!important; }
td[class=3Ddevicewidth] .mcol10 img { max-width: 280px!important;height: au=
to!important; }
td[class=3Ddevicewidth] .mcol11 { width: 280px!important; }
td[class=3Ddevicewidth] .mcol11 img { max-width: 280px!important;height: au=
to!important; }
}
</style>

<style type=3D"text/css">
=09a[href^=3D"x-apple-data-detectors:"],=09a[href^=3D"tel:"] {
=09=09color: inherit;
=09=09font-size: inherit;
=09=09font-family: inherit;
=09=09text-decoration: inherit;
=09}
</style>
=09=09=09
=09<table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"100%" c=
lass=3D"devicewidth">
=09
=09<tr><td width=3D"100%"><table border=3D"0" cellspacing=3D"0" cellpadding=
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dth"><tr><td valign=3D"top" width=3D"900" class=3D"devicewidth" bgcolor=3D"=
transparent" style=3D"border-collapse: collapse; box-sizing: border-box; bo=
rder-top: none; border-right: none; border-left: none; border-bottom: none;=
"
=09=09><table cellspacing=3D"0" cellpadding=3D"0" width=3D"100%" height=3D"=
100%"
=09=09style=3D"width: 100%; height: 100%; border-collapse: separate;"
=09=09><tr><td valign=3D"top" class=3D"mcol1" style=3D"border: 0; border-co=
llapse: separate; width: 100%; height: 100%; padding: 0px 0px 10px 0px;"
=09=09><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"100=
%">

=09=09<tr><td valign=3D"top" style=3D"padding-top:0px; padding-bottom:0px; =
padding-left:0px; padding-right:0px;">
=09=09=09<a name=3D"B1431104642435"></a>
=09=09=09<img src=3D"http://marketing.windes.com/cdnr/58/acton/cx/687/logo1=
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=09=09</td></tr>
=09=09
=09=09=09</table></td></tr></table></td></tr></table></td></tr><tr><td widt=
h=3D"100%"><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D=
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yle=3D"border-collapse: collapse; box-sizing: border-box; border-top: none;=
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=09=09><table cellspacing=3D"0" cellpadding=3D"0" width=3D"100%" height=3D"=
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=09=09><tr><td valign=3D"top" class=3D"mcol1" style=3D"border: 0; border-co=
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=09=09><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"100=
%">

=09=09<tr><td valign=3D"top" style=3D"padding-top:0px; padding-bottom:0px; =
padding-left:0px; padding-right:0px;">
=09=09=09<a name=3D"B1431104745103"></a>
=09=09=09=09=09=09
<table style=3D"height: 30px; width: 100%; background-color: #142d49;" bord=
er=3D"0">
<tbody>
<tr>
<td>&nbsp;</td>
</tr>
</tbody>
</table>
<table style=3D"height: 30px; width: 100%; background-color: #ff9933;" bord=
er=3D"0">
<tbody>
<tr>
<td>&nbsp;</td>
</tr>
</tbody>
</table>

=09=09</td></tr>
=09=09
=09=09=09</table></td></tr></table></td></tr></table></td></tr><tr><td widt=
h=3D"100%"><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D=
"border-collapse: collapse;" width=3D"900" class=3D"devicewidth"><tr><td va=
lign=3D"top" width=3D"687" class=3D"devicewidth" bgcolor=3D"transparent" st=
yle=3D"border-collapse: collapse; box-sizing: border-box; border-top: none;=
 border-right: none; border-left: none; border-bottom: none;"
=09=09><table cellspacing=3D"0" cellpadding=3D"0" width=3D"100%" height=3D"=
100%"
=09=09style=3D"width: 100%; height: 100%; border-collapse: separate;"
=09=09><tr><td valign=3D"top" class=3D"mcol1" style=3D"border: 0; border-co=
llapse: separate; width: 100%; height: 100%; "
=09=09><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"100=
%">

=09=09<tr><td valign=3D"top" style=3D"padding-top:0px; padding-bottom:0px; =
padding-left:0px; padding-right:0px;">
=09=09=09<a name=3D"B1431105521051"></a>
=09=09=09<table align=3D"left" border=3D"0" cellspacing=3D"0" cellpadding=
=3D"0" width=3D"100%" height=3D"auto">=20
 <tbody>
  <tr>=20
   <td>=20
    <table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" align=3D"center=
" width=3D"100%" style=3D"table-layout: fixed;">=20
     <tbody>
      <tr>=20
       <td style=3D"font-size: 0; line-height: 100%;=09" align=3D"center"><=
img border=3D"0" width=3D"687" style=3D"max-width: 100% !important; height:=
 auto; display:block !important;  font-size: 12px;" alt=3D"" title=3D"" src=
=3D"http://marketing.windes.com/cdnr/58/acton/attachment/1671/f-0139/2/-/-/=
-/-/image.jpg" height=3D"165"></td>=20
      </tr>=20
     </tbody>
    </table> </td>=20
  </tr>=20
 </tbody>
</table>

=09=09</td></tr>
=09=09
=09=09<tr><td valign=3D"top" style=3D"padding-top:0px; padding-bottom:0px; =
padding-left:0px; padding-right:0px;">
=09=09=09<a name=3D"B1431105198075"></a>
=09=09=09<p><strong><span style=3D"font-size: 18pt; color: #142d49; font-fa=
mily: 'Arial',sans-serif;">AUDIT &amp; ASSURANCE NEWS - JULY 2017<br></span=
></strong></p>=20
<div align=3D"center">
 <hr width=3D"100%" size=3D"3" align=3D"center">
</div>=20
<p><span style=3D"font-family: arial,helvetica,sans-serif; font-size: 12pt;=
">Dear Valued Clients and Friends,</span></p>=20
<p><span style=3D"font-family: arial,helvetica,sans-serif; font-size: 12pt;=
">Windes is pleased to provide you with important news from our Audit &amp;=
 Assurance practice. We hope that this value-added service is useful to you=
.</span></p>=20
<p><span style=3D"font-family: arial,helvetica,sans-serif; font-size: 12pt;=
">Sincerely,<br></span></p>=20
<p><span style=3D"font-family: arial,helvetica,sans-serif; font-size: 12pt;=
"><img src=3D"http://marketing.windes.com/cdnr/58/acton/attachment/1671/f-0=
1f7/1/-/-/-/-/image.jpg" alt=3D"" width=3D"135" height=3D"49" border=3D"0">=
<br><br><a target=3D"_blank"
 id=3D"ct1_0"
 href=3D"http://marketing.windes.com/acton/ct/1671/s-0260-1707/Bct/l-010b/l=
-010b:574/ct1_0/1?sid=3DTV2%3AycgwGDxZk"
 title=3D"Scott Dionne">Scott Dionne</a><br>Chairman and Partner<br>Audit &=
amp; Assurance Services<br><a target=3D"_blank"
 href=3D"mailto: sdionne@windes.com">sdionne@windes.com</a></span></p>

=09=09</td></tr>
=09=09
=09=09=09</table></td></tr></table></td><td valign=3D"top" width=3D"213" cl=
ass=3D"devicewidth" bgcolor=3D"#D3D3D3" style=3D"border-collapse: collapse;=
 box-sizing: border-box; border-top: none; border-right: none; border-left:=
 none; border-bottom: none;"
=09=09><table cellspacing=3D"0" cellpadding=3D"0" width=3D"100%" height=3D"=
100%"
=09=09style=3D"width: 100%; height: 100%; border-collapse: separate;"
=09=09><tr><td valign=3D"top" class=3D"mcol2" style=3D"border: 0; border-co=
llapse: separate; width: 100%; height: 100%; padding: 0px 0px 0px 10px;"
=09=09><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"100=
%">

=09=09<tr><td valign=3D"top" style=3D"padding-top:0px; padding-bottom:0px; =
padding-left:0px; padding-right:0px;">
=09=09=09<a name=3D"B1431105103695"></a>
=09=09=09=09=09=09
<p><span style=3D"font-family: arial,helvetica,sans-serif; font-size: 10pt;=
"><strong>Quick Links</strong></span></p>
<p><span style=3D"font-family: arial,helvetica,sans-serif; font-size: 9pt;"=
><a target=3D"_blank"
 id=3D"ct2_0"
 href=3D"http://marketing.windes.com/acton/ct/1671/s-0260-1707/Bct/l-010b/l=
-010b:574/ct2_0/1?sid=3DTV2%3AycgwGDxZk"
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h=3D"100%"><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D=
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%">

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er=3D"0">
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le=3D"font-family: arial,helvetica neue,helvetica,sans-serif;"><span style=
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=A9 </span>2017 Windes, Inc. </span></span></td>
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</table>

=09=09</td></tr>
=09=09
=09=09=09</table></td></tr></table></td></tr></table></td></tr><tr><td widt=
h=3D"100%"><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D=
"border-collapse: collapse;" width=3D"900" class=3D"devicewidth"><tr><td va=
lign=3D"top" width=3D"900" class=3D"devicewidth" bgcolor=3D"transparent" st=
yle=3D"border-collapse: collapse; box-sizing: border-box; border-top: none;=
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=09=09><table cellspacing=3D"0" cellpadding=3D"0" width=3D"100%" height=3D"=
100%"
=09=09style=3D"width: 100%; height: 100%; border-collapse: separate;"
=09=09><tr><td valign=3D"top" class=3D"mcol1" style=3D"border: 0; border-co=
llapse: separate; width: 100%; height: 100%; "
=09=09><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"100=
%">

=09=09<tr><td valign=3D"top" style=3D"padding-top:0px; padding-bottom:0px; =
padding-left:0px; padding-right:0px;">
=09=09=09<a name=3D"B1450719546048"></a>
=09=09=09=09=09=09
<p><strong><span style=3D"font-family: arial,helvetica,sans-serif; font-siz=
e: 12pt;">FASB proposes changes to consolidation guidance</span></strong></=
p>
<p><span style=3D"font-family: arial,helvetica,sans-serif; font-size: 12pt;=
">The Financial Accounting Standards Board (FASB) has proposed an accountin=
g standards update to reduce the cost and complexity of financial reporting=
 related to the consolidation of variable interest entities, based on recom=
mendations from FASB=E2=80=99s sister organization, the Private Company Cou=
ncil.</span><span style=3D"font-family: arial,helvetica,sans-serif; font-si=
ze: 12pt;">&nbsp; <a target=3D"_blank"
 id=3D"ct13_0"
 href=3D"http://marketing.windes.com/acton/ct/1671/s-0260-1707/Bct/l-010b/l=
-010b:574/ct13_0/1?sid=3DTV2%3AycgwGDxZk"
 title=3D"FASB proposes changes...">read more</a>&nbsp;<strong><em> Account=
ing Today<br></em></strong></span></p>
<hr>

=09=09</td></tr>
=09=09
=09=09=09</table></td></tr></table></td></tr></table></td></tr><tr><td widt=
h=3D"100%"><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D=
"border-collapse: collapse;" width=3D"900" class=3D"devicewidth"><tr><td va=
lign=3D"top" width=3D"900" class=3D"devicewidth" bgcolor=3D"transparent" st=
yle=3D"border-collapse: collapse; box-sizing: border-box; border-top: none;=
 border-right: none; border-left: none; border-bottom: none;"
=09=09><table cellspacing=3D"0" cellpadding=3D"0" width=3D"100%" height=3D"=
100%"
=09=09style=3D"width: 100%; height: 100%; border-collapse: separate;"
=09=09><tr><td valign=3D"top" class=3D"mcol1" style=3D"border: 0; border-co=
llapse: separate; width: 100%; height: 100%; "
=09=09><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"100=
%">

=09=09<tr><td valign=3D"top" style=3D"padding-top:0px; padding-bottom:0px; =
padding-left:0px; padding-right:0px;">
=09=09=09<a name=3D"B1492789384237"></a>
=09=09=09=09=09=09
<p><strong><span style=3D"font-family: arial,helvetica,sans-serif; font-siz=
e: 12pt;">AICPA proposes framework for financial instruments valuation</spa=
n></strong></p>
<p><span style=3D"font-family: arial,helvetica,sans-serif; font-size: 12pt;=
">The American Institute of CPAs (AICPA) has unveiled an exposure draft of =
a new framework to help CPAs and other financial professionals perform valu=
ations of financial instruments such as derivatives, along with their under=
lying components.&nbsp; <a target=3D"_blank"
 id=3D"ct14_0"
 href=3D"http://marketing.windes.com/acton/ct/1671/s-0260-1707/Bct/l-010b/l=
-010b:574/ct14_0/1?sid=3DTV2%3AycgwGDxZk"
 title=3D"AICPA proposes framework...">read more</a>&nbsp; <em><strong>Acco=
unting Today<br></strong></em></span></p>
<hr>

=09=09</td></tr>
=09=09
=09=09=09</table></td></tr></table></td></tr></table></td></tr><tr><td widt=
h=3D"100%"><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D=
"border-collapse: collapse;" width=3D"900" class=3D"devicewidth"><tr><td va=
lign=3D"top" width=3D"900" class=3D"devicewidth" bgcolor=3D"transparent" st=
yle=3D"border-collapse: collapse; box-sizing: border-box; border-top: none;=
 border-right: none; border-left: none; border-bottom: none;"
=09=09><table cellspacing=3D"0" cellpadding=3D"0" width=3D"100%" height=3D"=
100%"
=09=09style=3D"width: 100%; height: 100%; border-collapse: separate;"
=09=09><tr><td valign=3D"top" class=3D"mcol1" style=3D"border: 0; border-co=
llapse: separate; width: 100%; height: 100%; "
=09=09><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"100=
%">

=09=09<tr><td valign=3D"top" style=3D"padding-top:0px; padding-bottom:0px; =
padding-left:0px; padding-right:0px;">
=09=09=09<a name=3D"B1450719558987"></a>
=09=09=09=09=09=09
<p><strong><span style=3D"font-family: arial,helvetica,sans-serif; font-siz=
e: 12pt;">FASB proposes superseding guidance for S&amp;L bad debt reserves,=
 steamship entities</span></strong></p>
<p><span style=3D"font-family: arial,helvetica,sans-serif; font-size: 12pt;=
">The Financial Accounting Standards Board (FASB) recently issued two propo=
sals designed to make technical corrections to its Accounting Standards Cod=
ification.&nbsp; </span><a target=3D"_blank"
 id=3D"ct15_0"
 href=3D"http://marketing.windes.com/acton/ct/1671/s-0260-1707/Bct/l-010b/l=
-010b:574/ct15_0/1?sid=3DTV2%3AycgwGDxZk"
 title=3D"FASB proposes superseding..."><span style=3D"font-family: arial,h=
elvetica,sans-serif; font-size: 12pt;">read more</span></a><span style=3D"f=
ont-family: arial,helvetica,sans-serif; font-size: 12pt;"> &nbsp;<em><stron=
g>Journal of Accountancy</strong></em></span></p>
<hr>

=09=09</td></tr>
=09=09
=09=09=09</table></td></tr></table></td></tr></table></td></tr><tr><td widt=
h=3D"100%"><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D=
"border-collapse: collapse;" width=3D"900" class=3D"devicewidth"><tr><td va=
lign=3D"top" width=3D"900" class=3D"devicewidth" bgcolor=3D"transparent" st=
yle=3D"border-collapse: collapse; box-sizing: border-box; border-top: none;=
 border-right: none; border-left: none; border-bottom: none;"
=09=09><table cellspacing=3D"0" cellpadding=3D"0" width=3D"100%" height=3D"=
100%"
=09=09style=3D"width: 100%; height: 100%; border-collapse: separate;"
=09=09><tr><td valign=3D"top" class=3D"mcol1" style=3D"border: 0; border-co=
llapse: separate; width: 100%; height: 100%; "
=09=09><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"100=
%">

=09=09<tr><td valign=3D"top" style=3D"padding-top:0px; padding-bottom:0px; =
padding-left:0px; padding-right:0px;">
=09=09=09<a name=3D"B1450719552455"></a>
=09=09=09=09=09=09
<p><strong><span style=3D"font-family: arial,helvetica,sans-serif; font-siz=
e: 12pt;">GASB establishes new approach for reporting leases</span></strong=
></p>
<p><span style=3D"font-size: 12pt; font-family: arial,helvetica,sans-serif;=
">The Governmental Accounting Standards Board (GASB) established a single a=
pproach to accounting for and reporting leases by local and state governmen=
ts in a new statement recently issued.&nbsp; </span><span style=3D"font-fam=
ily: arial,helvetica,sans-serif; font-size: 12pt;"><a target=3D"_blank"
 id=3D"ct16_0"
 href=3D"http://marketing.windes.com/acton/ct/1671/s-0260-1707/Bct/l-010b/l=
-010b:574/ct16_0/1?sid=3DTV2%3AycgwGDxZk"
 title=3D"GASB establishes new...">read more</a>&nbsp;&nbsp; <em><strong>Jo=
urnal of Accountancy<br></strong></em></span></p>
<hr>

=09=09</td></tr>
=09=09
=09=09=09</table></td></tr></table></td></tr></table></td></tr><tr><td widt=
h=3D"100%"><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D=
"border-collapse: collapse;" width=3D"900" class=3D"devicewidth"><tr><td va=
lign=3D"top" width=3D"900" class=3D"devicewidth" bgcolor=3D"transparent" st=
yle=3D"border-collapse: collapse; box-sizing: border-box; border-top: none;=
 border-right: none; border-left: none; border-bottom: none;"
=09=09><table cellspacing=3D"0" cellpadding=3D"0" width=3D"100%" height=3D"=
100%"
=09=09style=3D"width: 100%; height: 100%; border-collapse: separate;"
=09=09><tr><td valign=3D"top" class=3D"mcol1" style=3D"border: 0; border-co=
llapse: separate; width: 100%; height: 100%; "
=09=09><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"100=
%">

=09=09<tr><td valign=3D"top" style=3D"padding-top:0px; padding-bottom:0px; =
padding-left:0px; padding-right:0px;">
=09=09=09<a name=3D"B1473453806109"></a>
=09=09=09=09=09=09
<p><strong><span style=3D"font-family: arial,helvetica,sans-serif; font-siz=
e: 12pt;">FinREC unveils 4 more revenue recognition working drafts</span></=
strong></p>
<p><span style=3D"font-family: arial,helvetica,sans-serif; font-size: 12pt;=
">The American Institute of CPAs (AICPA) Financial Reporting Executive Comm=
ittee (FinREC) recently issued another batch of working drafts of accountin=
g issues related to the implementation of the Financial Accounting Standard=
s Board's (FASB) new revenue recognition standard.&nbsp; </span><a target=
=3D"_blank"
 id=3D"ct17_0"
 href=3D"http://marketing.windes.com/acton/ct/1671/s-0260-1707/Bct/l-010b/l=
-010b:574/ct17_0/1?sid=3DTV2%3AycgwGDxZk"
 title=3D"FinREC unveils 4..."><span style=3D"font-family: arial,helvetica,=
sans-serif; font-size: 12pt;">read more</span></a><span style=3D"font-famil=
y: arial,helvetica,sans-serif; font-size: 12pt;">&nbsp; <em><strong>Journal=
 of Accountancy</strong></em><br></span></p>
<hr>

=09=09</td></tr>
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h=3D"100%"><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D=
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lign=3D"top" width=3D"900" class=3D"devicewidth" bgcolor=3D"transparent" st=
yle=3D"border-collapse: collapse; box-sizing: border-box; border-top: none;=
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llapse: separate; width: 100%; height: 100%; "
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%">

=09=09<tr><td valign=3D"top" style=3D"padding-top:0px; padding-bottom:0px; =
padding-left:0px; padding-right:0px;">
=09=09=09<a name=3D"B24"></a>
=09=09=09<p><span style=3D"font-family: arial, helvetica, sans-serif; font-=
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or any audit &amp; assurance professional at:</span></p>=20
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t;"><strong>Headquarters</strong></span></p>=20
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t;"><strong>Orange County Office</strong></span></p>=20
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t;">213.239.9745</span></p>=20
<p><span style=3D"font-family: arial, helvetica, sans-serif; font-size: 12p=
t;">Sincerely,</span></p>=20
<p><span style=3D"font-family: arial, helvetica, sans-serif; font-size: 12p=
t;"><strong>Windes Audit &amp; Assurance Services</strong></span></p>=20
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<p>&nbsp;</p>
<hr>
<p><strong><span style=3D"font-family: arial, 'helvetica neue', helvetica, =
sans-serif; font-size: 12pt;">About Windes&nbsp;</span></strong></p>
<p><span style=3D"font-family: arial, 'helvetica neue', helvetica, sans-ser=
if; font-size: 12pt;">With 91 years in business, Windes has more than 150 p=
rofessionals in three offices located in Long Beach, Irvine, and Los Angele=
s. The firm offers a full range of services, including: audit and assurance=
, cost segregation, employee benefits, estate and trust planning, human res=
ources recruiting and consulting, and tax planning, consulting and complian=
ce. The firm focuses on the needs of privately held businesses,&nbsp;nonpro=
fit organizations, and high-net-worth individuals. Windes is an independent=
 member of Baker Tilly International.&nbsp;</span></p>

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<p><span style=3D"font-family: arial, 'helvetica neue', helvetica, sans-ser=
if;">Copyright =C2=A9 2017 Windes</span><br /><span style=3D"font-family: a=
rial, 'helvetica neue', helvetica, sans-serif;">Our address is 111 West Oce=
an Blvd., Twenty-Second Floor, Long Beach, CA 90802, USA</span><br /><span =
style=3D"font-family: arial, 'helvetica neue', helvetica, sans-serif;">=C2=
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ica, sans-serif;">If you do not wish to receive future emails, <a class=3D"=
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4/l-010b/zout?sid=3DTV2%3AycgwGDxZk">click here</a>.</span><br /><span styl=
e=3D"font-family: arial, 'helvetica neue', helvetica, sans-serif;">(You can=
 also send your request to <strong>Customer Care</strong> at the street add=
ress above.)</span></p>
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