Tag: fasb

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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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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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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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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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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Lease Accounting: Road to Compliance Checklist

While the FASB recently affirmed the deferral of ASU 2016-02 (Topic 842, leases) for private…

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Convention Center
The New Leasing Standard Is Delayed, But the Time to Prepare is Now

Although the FASB recently deferred the effective date of the new standard for private companies…

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Business people walking up steps
FASB Proposes to Defer Effective Dates of Major New Accounting Standards

The proposed ASU reflects a new FASB viewpoint about effective dates that would stagger the…

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