FASB votes to simplify accounting for common control leases
(authored by RSM US LLP) For common control leases, the FASB is drafting amendments to simplify determining whether a lease exists, the classification of the lease, and accounting for leasehold improvements.
Proposed improvements to leases guidance on related party arrangements
(authored by RSM US LLP) Proposed improvements to leases guidance on related party arrangements
The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update
FASB to propose changes to related party leases guidance
(authored by RSM US LLP) The FASB recently voted to issue proposals on the determination of an arrangement as a lease and the financial reporting requirements for related party lease arrangements for certain entities.
Lessee accounting guide updated
(authored by RSM US LLP) A guide to lessee accounting under ASC 842 has been updated to incorporate guidance from the ASUs issued by the FASB.
Accounting for Leases in 2022
In early 2016, the Financial Accounting Standards Board (FASB) released new guidance on how businesses should account for leases. That new standard went into effect
Proposal: Disclosure of supplier finance program obligations
(authored by RSM US LLP) A proposed FASB ASU would require a buyer that uses a supplier finance program to disclose certain information about the program.
Treasury-Backed “Fiscal Recovery Funds” Present Unique Funding Opportunities to State and Local Governments
As part of President Biden’s American Rescue Plan Act (ARPA) that was passed in March 2021, Congress assigned $1.9 trillion in federal funds for “COVID-related
COVID-19 Impact on Asset Impairment
The coronavirus pandemic infused unprecedented levels of uncertainty into our economy. When the virus became more widely spread in March, businesses closed, workers self-isolated, and
Updates to SBA’s PPP loan FAQ for borrowers and lenders
(authored by RSM US LLP) We have updated two of our white papers to reflect an update in the SBA’s PPP loan FAQ for borrowers and lenders.
IFRS amendments to accounting for deferred tax
(authored by RSM US LLP) The IASB has issued amendments that will result in companies recognizing deferred tax on leases and decommissioning obligations.
SPACs: Auditor and audit committee considerations
(authored by RSM US LLP) A recent CAQ Alert addresses auditor and audit committee considerations related to SPAC initial public offerings and mergers.