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Audit Article Identifying a business combination
Under the guidance in ASC 805, an entity applies the acquisition method of accounting when it acquires a business or a not-for-profit activity.
Audit Article Short-term lease accounting
On June 3, 2020, the FASB issued Accounting Standards Update 2020-05, Effective Dates for Certain Entities, to defer for certain entities the effective dates
Audit Article Accounting alternative for evaluating triggering events
This article reviews the amendments in ASU 2021-03, Accounting alternative for evaluating triggering events that allow private and not for profit entities to
Audit Article COVID-19 related loan restructuring by creditors
In this article we review the COVID – 19 related loan restructuring by creditors interaction between the interagency statement and section 4013 if the CARES
Audit article FASB provides practical expedient for initial franchise fees
In this article we review the practical expedient provided by FASB for initial franchise fees.
Audit Article FASB simplifies accounting for convertible instruments
Review of guidance in ASU 2020-06 that simplifies accounting for convertible instruments.
Audit Article Impact of COVID-19 on income tax accounting
The spread of the COVID-19 pandemic is impacting businesses around the world. As entities consider the effects of COVID-19 on their global operations, careful
Audit Article Financial statements disclosure and internal control over financial reporting
What has been the impact of COVID-19 in your business? Consider these implications on disclosures during the preparation of your financial statements.
Audit Article Creditor accounting for PPP loans
The AICPA has issued the Technical Questions and Answers summarizing the creditor accounting for PPP loans.
Audit article Loan restructurings with periods of reduced payments
On this issue we discuss the AICPA Technical Question and Answers (TQA) 2130.41 that address the subsequent accounting for the restructure of debts made by
Audit Article Creditor accounting for Paycheck Protection Program loans
The Coronavirus Aid, Relief, and Economic Security (CARES) Act created the Paycheck Protection Program (PPP), which is administered by the Small Business
Audit Article CorpFin issues additional COVID-19 guidance
The SEC’s Division of Corporation Finance issues guidance that includes additional disclosure considerations related to business and market disruptions caused

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