This post explores whether lessees should use the rate implicit in the lease or their incremental borrowing rate when applying ASC 842 to leases. Read More ...
What readers of the financial statements need to know about the TCJA!
Apr 09, 2019The accounting for the Tax Cuts and Jobs Act (TCJA) is done, but as a reader of financial statements, can you recognize changes due to the 21% rate? Read More ...
Clarification of collaborative arrangements under ASU 2018-18 is here!
Nov 20, 2018The FASB has issued ASU 2018-18, which clarifies the accounting for collaborative arrangements (ASC 808) and revenue recognition under ASC 606. Read More ...
GAAP Flash – ASC 326, CECL and IFRS 9 – 10.26.18
Oct 26, 2018This week’s GAAP Flash includes articles about the impairment of financial instruments under CECL (ASC 326), the impact on industries, and IFRS 9. Read More ...
GAAP Flash– New Developments in the Tax Cuts and Jobs Act– 08.31.2018
Aug 31, 2018This GAAP Flash discusses the Tax Cuts and Jobs Act (TCJA), including the state and local tax deduction (SALT), depreciation, and the QBI deduction. 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 ...
GAAP Flash– Preparing for the new lease accounting standard (ASC 842)
Jun 29, 2018This GAAP Flash discusses the process of adoption ASC 842, the new lease accounting standard, and the challenges both public and private companies face as they prepare for adoption. Read More ...
To buy or not to buy? Accounting for warranties under ASC 606
May 29, 2018The type of warranty matters under the new revenue recognition standard (ASC 606). Let us walk you through the process of accounting for warranties! Read More ...