Accounting Standards Update 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,modifies the accounting and reporting of foreign currency forward contract hedges…
This article contains practical guidance and support as to the appropriate disclosure of the expected effects of significant future accounting changes from new GAAP standards…
Implementing ASU 2016-14 on the Presentation of Not-for-Profit Financial Statements
Changes Aim to Provide More Relevant Information and Perspective
FASB's Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, contains changes in reporting requirements that will significantly affect how nonprofits communicate…
FASB’s New Standard for Classifying Deferred Taxes
An Expedient Solution
For companies issuing classified balance sheets, current U.S. GAAP requires deferred taxes to be reported in two amounts (i.e., the net current deferred tax asset…