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Two methods identified for operating lease receivable impairment accounting.

Learn the standards that will be affected by the proposals made by the FASB to defer some effective dates of several standards.

Accounting Standards Codification Topic 842 is the new lease accounting standard published by the Financial Accounting Standard Board (FASB), replacing the previous US GAAP leasing standard, ASC 840. This new accounting standard seeks to improve transparency, comparability, and financial reporting, however achieving compliance will require significant effort

In May 2014 the Financial Accounting Standard Board (FASB) and the International Accounting Standard Board (IASB) published their largely converged standards on revenue recognition. Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, and IFRS 15 with the same title, created a new principle-based revenue recognition framework that will affect nearly every revenue-generating entity.

EITF discusses the revenue contract liabilities, interactions between Topics 321 and 323, and modifications of licenses of intellectual property.

5 tips to manage enterprise risk in businesses driven by innovation

Some publications have hinted that blockchain technology might eliminate the need for a financial statement audit by a CPA auditor altogether. If all transactions are captured in an immutable blockchain, then what is left for a CPA auditor to audit?

In this issue we review the role of audit and management in the financial reporting chain.

FASB proposes an accounting standard update for Business Combinations.

The FASB recently issued ASU 2018-20, Leases (Topic 842): Narrow Scope Improvements for Lessors, which simplifies how lessors implement the new leasing guidance in ASC 842, Leases.

The AICPA has released an early working draft in relation with Inventory Valuation Guidance to outline the considerations for estimating the fair value of inventory acquired in a business combination.

This issue discusses the FASB proposed improvements to account for certain entertainment production costs.

Today's business complexities compel us to stay abreast of accounting issues

The Puerto Rico Treasury Department has issued Informative Bulletin 18-18 with the electronic filing requirements for Forms 499R-2/W-2PR and Informative Returns for 2018.

The Board discussed feedback received on the proposed practical expedient related to the separation and allocation requirements of lease and nonlease components for lessors included in the proposed ASU, Leases (Topic 842): Targeted Improvements, along with other implementation issues arising from ASU 2016-02, Leases.

The FASB issued a proposed ASU, Leases (Topic 842): Narrow-Scope Improvements for Lessors, to address certain issues raised by lessors when implementing the new leases guidance in ASU 2016-02, Leases (Topic 842). The amendments in the proposed ASU would: