On January 12, 2015, the SEC's Division of Corporation Finance published an updated version of its Financial Reporting Manual. The manual has been revised to conform Sections 2070.4, 2070.6 and 7410 of the manual to the Financial Accounting Standards Board's (FASB) Accounting Standards Update No. 2014-17, Business Combinations (Topic 805): Pushdown Accounting (a consensus of the FASB Emerging Issues Task Force) and the rescission of the SEC's Staff Accounting Bulletin (SAB) Topic 5.J.

A summary of the revisions appears on page one of the revised manual. The revised sections are marked with the date tag "Last updated: 1/12/2015."

For more information on SEC financial reporting requirements, see Practice Note, Regulation S-X: What Lawyers Need to Know. For an overview of the sources of law and regulation of accounting, auditing and financial reporting, see Practice Note, Accounting, Auditing and Financial Reporting in the US: Governing Authorities.