Category: Financial Reporting
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SEC Eliminates Outdated and Redundant Disclosure Requirements
The SEC recently adopted rule amendments to eliminate redundant and outdated disclosure requirements of Regulations…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 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 Reporting Company Definition
The amendments increase the financial thresholds in the SRC definition, thereby expanding the number of…
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