In early 2016, the Financial Accounting Standards Board (FASB), the body that sets accounting principles for U.S. entities, released a new accounting standard on how
The Financial Accounting Standards Board (FASB) has made a significant change to accounting standards related to accounting for financial instruments. Accounting Standards Update 2016-01 (ASU
Starting a new business venture can be exciting. Whether you are forming your first company or expanding into a new area, it is important to
For fiscal periods beginning after December 15, 2018, businesses will have to start reporting leases differently on their balance sheets. That’s because the Financial
On February 10, 2017, the Louisiana Legislative Auditor (LLA) initiated statewide agreed-upon procedures (AUPs) affecting local governments and quasi-public organizations, including nonprofits. Those affected are
Business owners need to be aware that significant employee layoffs may lead to unintended partial plan terminations. In our region, oil and gas companies could
The Financial Accounting Standards Board has made significant changes to the way assets and liabilities arising from leases must be reported.
Because the revenue recognition update is so broad in scope, it may mean significant changes for companies’ current revenue and financial reporting processes, especially in the construction sector.