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Accounting Standards Updates

Standards Update: 8/22/16

Posted 12:33 PM by
In November 2011, the Financial Accounting Standards Board (FASB) added a project to its agenda focusing on the financial reporting of not-for-profit (NFP) entities. The objectives of this project focused on improving net asset classification requirements and the information provided in the financial statements and notes about liquidity, financial performance and cash flows.
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Standards Update: 6/17/16

Posted 4:00 AM by
In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-03, Intangibles – Goodwill and Other (Topic 350), Business Combinations (Topic 805), Consolidation (Topic 810), Derivatives and Hedging (Topic 815): Effective Date and Transition Guidance (a consensus of the Private Company Council) (ASU No. 2016-03).
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FASB Releases ASU No. 2016-02, Leases (Topic 842)

Posted 3:43 PM by
On Feb. 25, 2016, the Financial Accounting Standards Board (FASB) released Accounting Standards Update No. 2016-02, Leases (Topic 842) (the Update). Previous lease accounting guidance has long been criticized for not addressing the needs of financial statement users and FASB has spent several years on this project to address the concerns of users.
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