Category: Financial Reporting

Significant SEC Developments – First Quarter 2017
Significant SEC Developments – First Quarter 2017

This article summarizes significant accounting and reporting updates from the Securities and Exchange Commission. All…

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Portion of Conflict Minerals Rule No Longer to be Enforced
Portion of Conflict Minerals Rule No Longer to be Enforced

A U.S. District Court has entered a final judgment in the ongoing lawsuit related to…

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How the New Changes to Lease Accounting Could Affect Your Nonprofit
How the New Changes to Lease Accounting Could Affect Your Nonprofit

In early 2016 a much-anticipated accounting standard was released on how to treat leases. This…

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FASB Clarifies the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets
Dodd-Frank SEC Rules - One Nullified and Others Scrutinized
Dodd-Frank SEC Rules – One Nullified and Others Scrutinized

On February 14, President Trump signed a resolution passed by Congress which nullifies the SEC’s…

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FASB Simplifies Goodwill Impairment Test
FASB Simplifies Goodwill Impairment Test

The FASB recently issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, to simplify how…

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Recent FASB Developments - Fourth Quarter 2016
Recent FASB Developments – Fourth Quarter 2016

This article provides a comprehensive overview of important, recent developments that have changed the financial…

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Recent International Accounting Developments - Fourth Quarter 2016
Recent International Accounting Developments – Fourth Quarter 2016

This article summarizes recent international accounting updates from the International Accounting Standards Board (IASB) that…

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FASB Clarifies Consolidation Guidance for Not-for-Profit Entities
FASB Clarifies Consolidation Guidance for Nonprofit Entities

The FASB recently issued ASU 2017-02[1] to clarify when a not-for-profit entity (NFP) that is…

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FASB Clarifies the Definition of a Business
FASB Clarifies the Definition of a Business

The FASB recently issued ASU 2017-01 to clarify the definition of a business, which is…

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