ASU 2015-08: Eliminating Superseded SEC Guidance On Pushdown Accounting

The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-08, Pushdown Accounting: Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115, in May 2015. ASU 2015-08 finalizes certain changes to the Accounting Standards Codification (ASC) triggered initially by the FASB’s issuance of ASU 2014-17, Pushdown Accounting, in November 2014. The FASB issued ASU 2014-17 to establish common guidance on pushdown accounting for both public and nonpublic entities.