Don’t be intimidated by the FASB Codification! This blog post makes sense of the preeminent resource of all U.S. GAAP accounting resources. Read More ...
Clarifying guidance for contributions under ASC 958 has arrived!
Jul 17, 2018The FASB has issued ASU 2018-08, which clarifies whether a transaction should be accounted for as an exchange (ASC 606) or a contribution (ASC 958). Read More ...
Unanswered questions in ASC 606: Pre-production arrangements
Jul 10, 2018As extensive as ASC 606 (revenue recognition) is, it doesn’t answer all questions or cover all related issues. Let’s take a look at one example. Read More ...
Unanswered questions in ASC 606: Shipping and handling
Jul 03, 2018As extensive as ASC 606 (revenue recognition) is, it doesn’t answer all questions or cover all related issues. Let’s take a look at one example. Read More ...
ASC 815: Hedging for Partial Term or Prepayment Risk
Jun 26, 2018ASU 2017-12 makes it easier to achieve fair value hedge accounting for partial term hedges and hedges with prepayment risk. Read More ...
Impairment of AFS Debt Securities under ASC 326
Jun 19, 2018ASC 326’s new CECL model does not apply to AFS debt securities; rather, there is a separate impairment model for AFS debt securities. Read More ...
Non-GAAP Measures: I’m so popular!
Jun 12, 2018The use of non-GAAP measures continues to rise, along with the scrutiny of their use, especially with the adoption of ASC 606 and the tax reform laws. Read More ...
Hedging Non-Financial Risks under ASC 815 after Improvements in ASU 2017-12
Jun 05, 2018ASU 2017-12 makes it easier to achieve cash flow hedge accounting for hedges of non-financial risks. Read More ...