Category: Financial Reporting

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Revenue Recognition Compliance: Don’t Forget About Sales Commissions

The new revenue recognition standard (ASC 606) is now in effect for both public and…

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Accounting for Cloud Computing Implementation Costs: What Customers Need to Know

Accounting for implementation costs for cloud computing service arrangements has historically been complicated. ASU 2018-15…

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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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SEC Proposes More Changes to Modernize Regulation S-K Disclosure

On August 8, 2019, the SEC proposed amendments to the description of business, legal proceedings, and risk…

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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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