Category: Financial Reporting

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Certain Private-Company Accounting Standards Now Extended to Nonprofits

On May 30, 2019, the FASB issued ASU 2019-06, Extending the Private Company Accounting Alternatives…

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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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Cryptocurrency: The Top Things You Need to Know

The world of crypto investing is still relatively uncharted territory. It is important to understand…

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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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Revenue Recognition for Healthcare Organizations

For healthcare entities, the new revenue recognition standard, Revenue from Contracts with Customers, or ASC 606,…

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Revenue Recognition Considerations for Retailers

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

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SEC Eliminates Outdated and Redundant Disclosure Requirements

The SEC recently adopted rule amendments to eliminate redundant and outdated disclosure requirements of Regulations…

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FASB Issues Clarifications to Leases Standard

The FASB issued ASU 2018-10 which affects narrow aspects of the guidance in ASU 2016-02, Leases (Topic…

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FASB Clarifies Nonprofit Grants and Contributions
FASB Clarifies and Improves Guidance for Nonprofit Grant and Contributions Accounting

The FASB issued ASU 2018-08 to clarify the accounting guidance related to contributions made or received.…

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SEC Amends Smaller Company Reporting Definition
SEC Amends Smaller Reporting Company Definition

The amendments increase the financial thresholds in the SRC definition, thereby expanding the number of…

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