Posts by Michael Piessens

Presentations and Disclosures for Lease Accounting

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

Read More
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…

Read More
retailer, business planning, revenue recognition
Revenue Recognition Considerations for Retailers

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

Read More
Revenue Recognition Readiness

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

Read More
What Nonprofits Need to Know About Rev Rec

With ASC 606 – the Financial Accounting Standards Board’s (FASB) new revenue recognition standard –…

Read More
FASB Issues Technical Corrections & Improvements to Its Recent Financial Instruments Guidance

The FASB issued ASU 2018-03[1] to address questions raised about its recent standard on financial instruments,…

Read More
Significant Accounting & Reporting Updates

The Financial Accounting Standards Board (FASB) recently posted a Q&A stating its staff would not…

Read More
Private Companies and Nonprofit Entities Can Apply SAB 118
Private Companies, Nonprofit Entities Can Apply SAB 118

The FASB staff would not object to private companies and nonprofit entities applying SAB 118…

Read More
Tax Reform: SEC Issues Guidance Addressing Financial Reporting Requirements
Tax Reform: SEC Issues Guidance Addressing Financial Reporting Requirements

The enactment of the most significant U.S. income tax legislation in 30 years is now…

Read More
Significant Accounting & Reporting Updates
Significant Accounting & Reporting Updates

The FASB recently issued ASU 2017-11 (Part I) Accounting for Certain Financial Instruments with Down…

Read More