Private companies: Have you implemented the new lease accounting rules? If not, you can’t afford to procrastinate any longer. Here’s what you’ll need to do before year end and how it may impact your financials.
Internally generated goodwill isn’t on the balance sheet. But acquired goodwill is another story. Do you know the rules for reporting acquired goodwill and subsequently testing it for impairment? This is a hot button for many organizations today.
Got questions about fair value under U.S. GAAP? Here are some answers to help take the guesswork out of reporting these estimates.
We are fast approaching 2022, so it is time to consider the new leasing standard for calendar-year entities, which becomes effective January 1, 2022.
Coming soon: Private companies and nonprofits that rent equipment, vehicles and real estate will need to update their accounting systems for major changes to the rules for long-term leases under U.S. GAAP.
Many companies are struggling to make their loan payments during the COVID-19 crisis. Debt restructuring could provide relief.
Applying for a commercial loan can be tedious and time-consuming, especially in today’s uncertain marketplace. Here’s what to expect.
Financial statements do more than quantify a company’s performance. They also provide qualitative information about business operations and risk factors. Here are the basics about footnote disclosures.
The current expected credit loss (CECL) standard has been delayed again. Under the recently enacted COVID-19 economic relief package, large public banks get a reprieve from implementing the updated rules.
The Financial Accounting Standards Board (FASB) has issued a new Accounting Standards Update, ASC 842: Leases, that addresses accounting for leasing transactions under U.S. Generally Accepted Accounting Principles (U.S. GAAP). ASC 842 was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities for substantially all leases. The new rules[ … ]