Contractors: Are You Ready to Implement the New Lease Standard?
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
Accounting for Financial Instruments: New Requirements
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
What Should I Do About GDPR?
GDPR is a buzzword that has been in the news frequently these past few months. GDPR, which stands for General Data Protection Regulation, affects more
Deducting or Amortizing Start-up Costs and Organizational Costs
How will the new lease accounting standard affect your business?
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
Introducing New Legislative Auditor Statewide Agreed-Upon Procedures
New changes to the Federal Audit Clearinghouse data collection form
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Company Layoffs May Lead to EBP “Partial Plan Terminations”
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
How FASB’s new lease standard affects oil and gas companies
The Financial Accounting Standards Board has made significant changes to the way assets and liabilities arising from leases must be reported.
Revenue recognition update presents challenges for contractors
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.