Posts by Michael Piessens

Revenue Recognition for Software as a Service
How SaaS Providers Are Tackling Revenue Recognition: Part 2

In Part Two of this series, MFA details how software-as-a-service (SaaS) providers are tackling revenue…

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Revenue Recognition for SaaS Providers
Revenue Recognition for SaaS Providers: Part 1

How software-as-a-service (SaaS) providers can comply with revenue recognition guidelines, e.g. determining contract terms, and…

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Lease Accounting: Road to Compliance Checklist

While the FASB recently affirmed the deferral of ASU 2016-02 (Topic 842, leases) for private…

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Convention Center
The New Leasing Standard Is Delayed, But the Time to Prepare is Now

Although the FASB recently deferred the effective date of the new standard for private companies…

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Pen on signed IRS income tax form and financial data
Proposed Income Regulations Provide Clarity for Accrual Method Taxpayers

On September 5, 2019, the IRS and Treasury released proposed regulations addressing the timing of…

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FASB Proposes to Defer Effective Dates of Major New Accounting Standards

The proposed ASU reflects a new FASB viewpoint about effective dates that would stagger the…

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Empty Modern Office Space
Presentations and Disclosures for Lease Accounting

During deliberations for the standard, many users indicated that the existing disclosure requirements did not…

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Empty Modern Office Space with Windows and Shadows
Understanding the New Leasing Standard: Definition of a Lease

Under its core principle, a lessee will recognize right-of-use (“ROU”) assets and related lease liabilities…

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retailer business planning
Revenue Recognition Considerations for Retailers

Revenue recognition remains a important topic as the changes affect every business. Previously, we put…

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Revenue Recognition Readiness
Revenue Recognition Readiness

On May 28, 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards…

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