Category: Financial Reporting

SEC SAB 118 Guidance: Changes in Estimates and GILTI Accounting Policy Choice
SEC SAB 118 Guidance: Changes in Estimates and GILTI Accounting Policy Choice

On December 22, 2017, the SEC staff issued guidance in the form of Staff Accounting…

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What’s the Difference Between Nonprofit and For-Profit Financial Reporting?
What’s the Difference Between Nonprofit and For-Profit Financial Reporting?

Board members and new staff with for-profit backgrounds don’t always grasp the differences between the…

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Summary of Key Tax Reform Implications on Accounting Methods
Summary of Key Tax Reform Implications on Accounting Methods

Two tax reform provisions present unique opportunities for businesses to file accounting method changes to…

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Private Companies and Nonprofit Entities Can Apply SAB 118
Private Companies, Nonprofit Entities Can Apply SAB 118

The FASB staff would not object to private companies and nonprofit entities applying SAB 118…

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Tax Reform: SEC Issues Guidance Addressing Financial Reporting Requirements
Tax Reform: SEC Issues Guidance Addressing Financial Reporting Requirements

The enactment of the most significant U.S. income tax legislation in 30 years is now…

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SEC Staff Updates the Financial Reporting Manual
SEC Staff Updates the Financial Reporting Manual

The staff of the SEC’s Division of Corporation Finance published an update to the Division’s…

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Significant Accounting & Reporting Updates
Significant Accounting & Reporting Updates

The FASB recently issued ASU 2017-11 (Part I) Accounting for Certain Financial Instruments with Down…

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U.S. Tax Reform: Financial Reporting and Audit Considerations
Tax Reform: Reporting and Audit Considerations

The enactment of U.S. tax reform is imminent. It has passed both the House and…

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DOJ Ramps Up Action Against Fraud in Healthcare
DOJ Ramps Up Action Against Fraud in Healthcare

The Department of Justice (DOJ) has sent a message: It’s not backing away from efforts…

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SEC Proposes Amendments to Regulation S-K
SEC Proposes Amendments to Regulation S-K

On October 11th, the SEC proposed amendments to modernize and simplify certain disclosure requirements in…

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