2018 to Usher in Major Accounting Changes for Not-for-Profit Groups
The FASB’s not-for-profit accounting standard is the first major update to not-for-profit reporting in more than two decades. Because it …
Healthcare Company Debt Presentation Rules in for Change Under New Revenue Rules
As the clock ticks toward public companies’ 2018 compliance date with the FASB’s sweeping new revenue rules, the board is …
IRS provides revised procedures for automatic consent to accounting method change
Rev Proc 2015-13, 2015-5 IRB, Rev Proc 2015-14, 2015-5 IRB In a new Revenue Procedure, IRS updates and reviseds the …
Extraordinary Items Eliminated From U.S. GAAP
Businesses no longer will have to assess whether a one-time event is considered so rare that it merits separate reporting …
Difference Between Leases and Service Contracts Becomes Clearer
The FASB and IASB agreed to clarify the difference between a lease and a service contract but have yet to …