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…
Revenue Recognition Options Companies with long-term fixed-priced contracts typically recognize revenue using one of two methods: The percentage-of-completion method, whereby income is recognized over the…
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…
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.