Category: Financial Reporting

SPACs Accounting
Accounting Considerations for SPAC Target Companies

There are a number of considerations for target companies in preparing for the De-SPAC transaction,…

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FASB
FASB Offers Goodwill Impairment Alternative to Private Businesses, Nonprofits

FASB will allow provide private companies and nonprofits to use an accounting alternative to evaluate…

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Revenue Recognition for Franchises
Revenue Recognition Simplified for Franchises

FASB recently released an accounting standards update to provide a “practical expedient” allowing privately-owned franchise…

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LIBOR Considerations for Accounting
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…

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New Changes to Regulation S-K
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...

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Nonprofit update
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…

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SEC Streamlines Regulation S-K Disclosures
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…

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Complex Financial Instruments
FASB Simplifies Accounting for Complex Financial Instruments

FASB simplified the accounting for convertible instruments by eliminating large sections of the existing guidance…

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Small Reporting Company Filing Requirements
SEC Reporting for Smaller Reporting Companies (SRCs)

As the economic landscape continues to evolve, companies have an opportunity to seek relief from…

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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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