Tag: financial reporting

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…

Read More
SPACs
SEC Issues Statements on Special Purpose Acquisition Companies (SPACs)

Last week, the SEC issued two statements regarding issues related to special purpose acquisition companies…

Read More
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…

Read More
Small Reporting Company Filing Requirements
SEC Reporting for Smaller Reporting Companies (SRCs)

As the economic landscape continues to evolve, companies have an opportunity to seek relief from…

Read More
COVID-19 FAQs: Nonprofit Orgs
COVID-19 FAQs: Nonprofit & Education

Here are some of the most frequently asked questions and resources to help nonprofit and…

Read More
Accounting for PPP Loans
Accounting for Paycheck Protection Program (PPP) Loans and Forgiveness

Currently, there is no formal guidance that states how businesses should account for PPP loan…

Read More
Impact of CARES Act on Going Concern
COVID-19 Impacts on Going Concern Assessments

The COVID-19 crisis will put pressure on each entity’s going concern assessment and having a…

Read More
Audit Committee Considerations
Questions for Audit Committees During the COVID-19 Crisis

Questions for audit committees to consider in executing financial reporting responsibilities and ensuring audit quality…

Read More
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…

Read More
SEC Issues New Guidance on Financial Disclosures
SEC Issues More Compliance & Disclosure Interpretations on COVID-19 Filing Relief

The SEC issued a new Compliance and Disclosure Interpretation to clarify that registrants may take advantage…

Read More