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Tags archive: ASU

Home /Tag: ASU
Featured

ASU 2016-15 and GAAP Treatment of Securitization-Related Cash Flows

Catching Up to the Fast-Moving Financial Sector

By  Cecil W. Jackson, PhD, CPA (Inactive) and David M. Jackson, JD

February 2020 0

The securitization of trade receivables is a multibillion-dollar sector, and it is growing. It is vitally important that U.S. GAAP correctly reflect the economics of…

Featured

Hedges of Recognized Foreign Currency–Denominated Assets and Liabilities

Applying ASU 2017-12

By  Robert G. Rambo, PhD, CPA

September 2019 0

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…

Featured

Functional Expenses by Nature and the Overhead Debate

Crafting an Alternative Approach to ASU 2016-14

By  Curtis Klotz, CPA

May 2019 0

FASB ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, is in full effect with the close of the December 31, 2018, fiscal year. As implementation progresses,…

Featured

FASB’s New Guidance for Contributions Received and Contributions Made

By  Laurence Scot, CPA

May 2019 0

Over the years, there has been much confusion about whether to treat certain types of transactions as contributions or as exchanges, especially when they involve…

Featured

Disclosure of Pending Accounting Changes

By  Howard B. Levy, CPA

November 2018 0

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…

Feature Articles

The New Guidance for Goodwill Impairment

By  Josef Rashty, CPA

September 2018 0

In January 2017, FASB issued Accounting Standards Update (ASU) 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminated the calculation of implied…

Featured

‘Net Realizable Value’ Is the New ‘Market’

The Effects of ASU 2015-11 and Other Inventory Valuation Issues

By  Howard B. Levy, CPA

June 2018 0

This month's column highlights the principal effects of FASB's Accounting Standards Update (ASU) 2015-11, Simplifying the Measurement of Inventory. While the standard's primary impact has been…

Featured

The Impact of the New Revenue Recognition Guidance on Cloud Computing Arrangements

By  Nicholas C. Lynch, PhD and Charles R. Pryor, PhdD

June 2018 0

In Brief Companies continue to struggle with implementing FASB's new revenue recognition standard, which becomes effective this year. One sector that may experience particular difficulty…

Applying the Equity Method under ASU 2016-07 Another Milestone in FASB's Simplification Initiative Analysis

Applying the Equity Method under ASU 2016-07

Another Milestone in FASB’s Simplification Initiative

By  Brian W. Carpenter, PhD, CMA and Daniel P. Mahoney, PhD, CPA, CFE

February 2017 0

In March 2016, FASB issued Accounting Standards Update (ASU) 2016-07, Simplifying the Adjustment to the Equity Method of Accounting. This update was issued as part…

Consolidation of Variable Interest Entities for Private Companies Accounting Alternatives under ASU 2014-07 Analysis

Consolidation of Variable Interest Entities for Private Companies Accounting Alternatives under ASU 2014-07

By  Cary D. Lange, PhD, CPA and James M. Fornaro, DPS, CPA, CMA, CFE

February 2017 0

FIN 46(R), Consolidation of Variable Interest Entities—An Interpretation of ARB No. 51, was issued in December 2003 in response to accounting scandals in which certain…

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