Category: Financial Reporting

SEC Exempt Offering Framework
SEC Proposed Changes to the Exempt Offering Framework

On March 4th, the SEC issued a proposal to improve the exempt offering framework (framework) used by…

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SEC Adopts Rules for Disclosures
SEC Adopts Rules to Simplify and Streamline Disclosures for Registered Debt Offerings

The SEC adopted amendments to simplify and streamline the financial disclosures required by Rules 3-10 and 3-16…

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Rev Rec and Leases Standards Delayed
Leasing and Revenue Recognition Standards Delayed for Some Private Companies

The FASB has formally approved a one-year deferral of the effective date of ASC 842, Leases, for…

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Accounting for PPP Loans
Accounting for Paycheck Protection Program (PPP) Loans and Forgiveness

Currently, there is no formal guidance that states how businesses should account for PPP loan…

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Impact of CARES Act on Going Concern
COVID-19 Impacts on Going Concern Assessments

The COVID-19 crisis will put pressure on each entity’s going concern assessment and having a…

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Audit Committee Considerations
Questions for Audit Committees During the COVID-19 Crisis

Questions for audit committees to consider in executing financial reporting responsibilities and ensuring audit quality…

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Lease Accounting Standard Delayed
FASB Votes to Defer the Effective Date of ASC 842

This week, FASB voted in favor of a one-year deferral of the effective date of…

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SEC Issues New Guidance on Financial Disclosures
SEC Issues More Compliance & Disclosure Interpretations on COVID-19 Filing Relief

The SEC issued a new Compliance and Disclosure Interpretation to clarify that registrants may take advantage…

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SEC Staff Issues Compliance and Disclosure Interpretations on COVID-19 Filing Relief

The SEC issued two Compliance and Disclosure Interpretations (“C&DIs” 135.12 and 135.13) to clarify the circumstances in…

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Accounting Considerations During COVID-19
Accounting & Reporting Considerations During the COVID-19 Pandemic

With the continued spread of COVID-19 and its overwhelming effect on the global economy, we…

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