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FASB’s new credit impairment rules will be effective for 2023 financial statements for all non-SEC companies and nonprofit organizations. The changes cover trade receivables, among other financial assets. Some changes for receivables are subtle, and long-dated receivables will be subject to new disclosure.
Implementation efforts for Accounting Standards Codification (ASC) 842, Leases, are now underway for private companies.
See our insights on a critical step in lease implementation—calculating the appropriate discount rate.
This article provides background on SPACs and accounting considerations for private companies using SPACs to enter capital markets.
This article provides details on Accounting Standards Update 2021-03, which FASB issued on March 30, 2021, to provide limited relief on…
Private companies have struggled with the cost and complexity of determining the fair value of stock-option awards when granted or modified…
The countdown begins now for a successful implementation of the new revenue standard, Accounting Standards Codification 606. The effect on…