Tag: fasb

Understanding the New Leasing Standard: Definition of a Lease

Under its core principle, a lessee will recognize right-of-use (“ROU”) assets and related lease liabilities…

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FASB Issues Clarifications to Leases Standard

The FASB issued ASU 2018-10 which affects narrow aspects of the guidance in ASU 2016-02, Leases (Topic…

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FASB Clarifies Nonprofit Grants and Contributions
FASB Clarifies and Improves Guidance for Nonprofit Grant and Contributions Accounting

The FASB issued ASU 2018-08 to clarify the accounting guidance related to contributions made or received.…

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What You Need to Know About Lease Accounting

In February 2016, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) No.…

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FASB Issues Technical Corrections & Improvements to Its Recent Financial Instruments Guidance

The FASB issued ASU 2018-03[1] to address questions raised about its recent standard on financial instruments,…

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Significant Accounting & Reporting Updates

The Financial Accounting Standards Board (FASB) recently posted a Q&A stating its staff would not…

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Reclassification of Certain Tax Effects Caused by Tax Reform
Reclassification of Certain Tax Effects Caused by Tax Reform

The FASB issued ASU 2018-02 to provide entities an option to reclassify certain “stranded tax effects”…

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Revenue Recognition for the Manufacturing Industry
Revenue Recognition for the Manufacturing Industry

Companies have started gearing up to implement new revenue recognition standards, more formally known as…

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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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FASB Simplifies Accounting for Instruments with Down Rounds
FASB Simplifies Accounting for Instruments with Down Rounds

The FASB recently issued ASU 2017-11[1] to simplify the accounting for certain financial instruments with…

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