Public Company Update: SEC, PCAOB, and Other Developments

Chapter 1 1-1

SEC Rulemaking and Other Activity in 2018 1-1

2018 SEC rulemaking and other activity 1-2

2019 SEC rulemaking and other activity 1-4

SEC commission activities 1-5

Chapter 2 2-1

The 2018 AICPA SEC and PCAOB Conference 2-1

2018 AICPA SEC and PCAOB conference 2-2

Chapter 3 3-1

PCAOB Auditing Developments 3-1

PCAOB standard-setting and other audit-related activities 3-2

Final rules and amendments 3-3

Other staff guidance 3-6

Other activities 3-14

PCAOB members and advisory groups 3-15

Office of the chief auditor current standard-setting agenda 3-17

PCAOB’s website 3-21

Chapter 4 4-1

Other PCAOB Activities 4-1

International inspection program 4-18

Chapter 5 5-1

Fair Value Measurements and Disclosures 5-1

Definition 5-3

Principal market 5-5

Market participants 5-7

Highest and best use (nonfinancial assets) 5-8

Measuring liabilities and equity instruments at fair value 5-9

Financial assets and liabilities with offsetting positions 5-11

Fair value at initial recognition 5-12

Valuation techniques, inputs, and the fair value hierarchy 5-13

Impact of declining market activity on fair value measurements 5-15

Investments in certain entities that calculate net asset value per share (or its equivalent) 5-18

Disclosures 5-19

SEC guidance 5-23

Appendix A Chapter 5, A-1

Proprietary Matrix of Steps in Performing a Fair Value Measurement Chapter 5, A-1

Chapter 6 6-1

IPO Selected Topics 6-1

Going public 6-2

Form S-1 registration statement 6-5

Financial statement requirements 6-9

Age of financial statements 6-10

Form and content of financial statements 6-13

Financial statements of businesses acquired or to be acquired 6-20

Audit and auditor requirements for public registrants 6-25

Changes in capital structure at or prior to the closing of an IPO 6-27

Valuation of stock compensation 6-29

Chapter 7 7-1

Emerging Growth Companies 7-1

Eligibility requirements 7-2

Scaled disclosure provisions 7-4

Interpretive guidance 7-6

Glossary Glossary 1

Index Index 1

Solutions Solutions 1

Chapter 1 Solutions 1

Chapter 2 Solutions 3

Chapter 3 Solutions 8

Chapter 4 Solutions 9

Chapter 5 Solutions 10

Chapter 6 Solutions 14

Chapter 7 Solutions 17