Tag: fasb

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…

Read More
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…

Read More
Hands of two business individuals reviewing a financial report and using a calculator
Certain Private-Company Accounting Standards Now Extended to Nonprofits

On May 30, 2019, the FASB issued ASU 2019-06, Extending the Private Company Accounting Alternatives…

Read More
Empty Modern Office Space with Windows and Shadows
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…

Read More
businessman walking by store front
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…

Read More
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.…

Read More
What You Need to Know About Lease Accounting
What You Need to Know About Lease Accounting

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

Read More
FASB Issues Technical Corrections and Improvements to its Recent Financial Instruments Guide
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,…

Read More
Significant Accounting and Reporting Updates
Significant Accounting & Reporting Updates

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

Read More
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”…

Read More