Time to Celebrate! FASB Expands VIE Exception for Private Companies

The Financial Accounting Standards Board (FASB) recently gave private companies long-awaited relief from one of the most complicated aspects of financial reporting — consolidation of variable interest entities (VIEs). Here are the details. Old rules Accounting Standards Codification (ASC) [...]

By |2019-03-11T20:03:26-04:00January 2nd, 2019|Categories: Blog, Tax|Tags: , |0 Comments

Public vs. Private Companies: When Should Different Accounting Rules Apply?

Small private companies often criticize the Financial Accounting Standards Board (FASB) for writing overly complex standards that focus on the needs of stakeholders in large public companies rather than “Main Street” businesses. Here’s how the FASB has addressed these [...]