Category: Financial Reporting
New Leasing Standard Deadline for Private Companies, Nonprofits Approaching
The new leasing standard for private companies and private nonprofits will be effective for fiscal…
Read More
New Lease Accounting Guidance for Certain Leases With Variable Payments
FASB issued guidance to address the day-one loss issue related to a lessor’s accounting for…
Read More
Q&A: Managed Accounting Services
Partner Michael Sullivan highlights the benefits of MFA's recently launched Managed Accounting Services, including streamlined…
Read More
Accounting Considerations for SPAC Target Companies
There are a number of considerations for target companies in preparing for the De-SPAC transaction,…
Read More
FASB Offers Goodwill Impairment Alternative to Private Businesses, Nonprofits
FASB will allow provide private companies and nonprofits to use an accounting alternative to evaluate…
Read More
Revenue Recognition Simplified for Franchises
FASB recently released an accounting standards update to provide a “practical expedient” allowing privately-owned franchise…
Read More
FASB Provides Optional Relief for Contracts and Transactions Affected by Reference Rate Reforms
Earlier this year, the FASB provided optional expedients and exceptions for applying U.S. GAAP to…
Read More
SEC Eliminates & Amends Certain Disclosure Requirements of Regulation S-K
In November, the SEC adopted more amendments to the disclosure requirements of Regulation S-K for public companies...
Read More
FASB Clarifies Presentation and Disclosures By Nonprofit Entities For Contributed Nonfinancial Assets
The FASB has issued ASU 2020-07, (“Update”) to clarify the presentation and disclosure of contributed…
Read More
SEC Amends and Streamlines Regulation S-K Disclosures
the SEC adopted amendments to the description of business, legal proceedings, and risk factor disclosure requirements of…
Read More