On November 18, 2014, the SEC’s Office of the Chief Accountant and Division of Corporation Finance released Staff Accounting Bulletin (“SAB”) No.115 to retract portions of interpretive guidance on pushdown accounting which it includes in its SAB series. The new SAB rescinds SAB Topic 5.J. entitled “New Basis of Accounting Required in Certain Circumstances”. The new SAB is intended to bring existing guidance in accordance with Accounting Standards Update No. 2014-17 – Business Combinations (Topic 805): Pushdown Accounting, a consensus of the FASB Emerging Issues Task Force, which was sanctioned by the Financial Accounting Standards Board on October 8, 2014.

Staff Accounting Bulletin No. 115 is available at:


Accounting Standards Update No. 2014-17 is available at: