Reporting Embedded Leases

In 2016, the Financial Accounting Standards Board (FASB) published guidance that requires major changes to how leases are reported on financial statements. One area of the guidance that’s especially complicated relates to “embedded” leases. Updated guidance Organizations are required [...]

By |2020-07-10T14:10:11-04:00July 10th, 2020|Categories: Audit, Blog, COVID-19|Tags: , , , |Comments Off on Reporting Embedded Leases

Don’t let collaborative arrangements cause financial reporting headaches

Businesses often enter into so-called “collaborative arrangements” when they partner with another entity on a major project. Unfortunately, the current guidance for these types of arrangements under U.S. Generally Accepted Accounting Principles (GAAP) is somewhat vague. Here are some [...]

By |2018-06-01T18:59:27-04:00June 1st, 2018|Categories: Blog|Tags: , , , , , |Comments Off on Don’t let collaborative arrangements cause financial reporting headaches

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 [...]

By |2018-04-24T18:54:21-04:00April 24th, 2018|Categories: Blog|Tags: , , , , , |Comments Off on Public vs. Private Companies: When Should Different Accounting Rules Apply?