ACCOUNTING CONSULTANTS
ACCOUNTING with FRESHBOOKS SOHO and More

The Financial Accounting Standards Board approved a tweak to the goodwill rules for private businesses and not-for-profits, giving them more flexibility on when to do impairment assessments of triggering events.

The Financial Accounting Standards Board released an accounting standards update Thursday, giving franchisors a practical expedient way to determine their performance obligations under a franchise agreement.

The pandemic reshaped the profession throughout the year — and will continue to do so in 2021.

The SEC Reporting Taxonomy and GAAP taxonomy still need to be approved by the SEC.

The board’s proposed ASU offers specific guidance on certain recognition and timing issues.

The Andersen alum served as standard-setter in the midst of the dot-com crash.

Having started his transition at the beginning of the pandemic, Board Chair Richard Jones now faces the uncertainty of the presidential election and what Congress might do with accounting standards.

The board has voted to defer the effective date of its long-duration insurance contract standard for one year in response to the pandemic.

Richard Jones is making post-implementation reviews of standards one of his top priorities, and taking a closer look at FASB’s crowded agenda.

Post-implementation reviews enable FASB to identify and deal with any areas for improvement stemming from either adoption or implementation of a standard.