Accounting for software costs is one of the gray areas in financial reporting. Fortunately, the FASB’s working on a project to simplify matters.
New accounting rules for supplier finance programs
Newly issued rules on how to report supplier finance programs will provide critical information on the financial health of companies. Here’s what you should know if your company participates in these kinds of arrangements.
FASB proposes last-minute changes to lease accounting rules
New lease accounting rules go into effect this year for private companies and nonprofits. Related-party leases continue to be a sticking point, but help may be coming soon.
New law puts “book income” in the crosshairs
Could the Inflation Reduction Act have unintended financial reporting consequences? Many accounting professionals are concerned that the new law could compromise the perceived objectivity of U.S. accounting rulemakers.
Last call for lease accounting
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.
Goodwill in a bad economy
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.
FAQs about fair value in accounting
Got questions about fair value under U.S. GAAP? Here are some answers to help take the guesswork out of reporting these estimates.
Lease Standard Makes Impact on Balance Sheet
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.
Private companies: Are you on track to meet the 2022 deadline for the updated lease standard?
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.
Should my distressed company consider a debt restructuring?
Many companies are struggling to make their loan payments during the COVID-19 crisis. Debt restructuring could provide relief.