Financial Reporting Insights
A recent Accounting Standards Update addresses the effective date of ASC 842 for certain public business entities.
A recent Accounting Standards Update addresses the effective date of ASC 842 for certain public business entities.
The Financial Accounting Standards Board recently added Staff Accounting Bulletin 119 to its Accounting Standards Codification.
A recently issued GASB Statement includes guidance addressing various accounting and financial reporting issues.
Our comparisons provide an overview of the significant differences between U.S. GAAP and IFRS on a variety of topics.
Maintaining lease accounting standards shouldn’t be time consuming. Join our webinar on Feb. 18 to learn more.
Our audit quality report is intended to provide a window into how RSM US LLP promotes and monitors audit quality.
The FASB has issued a proposed ASU regarding the accounting by not-for-profit entities for contributed nonfinancial assets.
Recently issued SSARS 25 addresses materiality in a review of financial statements and adverse conclusions, among other matters.
The White House has proposed to consolidate the functions and responsibilities of the PCAOB into the SEC beginning in 2022.
This webcast will offer an executive briefing addressing key financial, regulatory and governance issues for 2020.
Our updated white paper will further assist financial institutions in applying the new revenue recognition model.
The Center for Audit Quality International Practices Task Force has updated its framework for compiling inflation data.
Our updated white paper will assist entities in the insurance industry in applying the new revenue recognition model.
We have updated our white paper that answers questions related to the application of the public business entity definition.
The FASB recently issued an Accounting Standards Update that clarifies certain interactions between ASC 321, ASC 323 and ASC 815.
The SEC recently proposed amendments to certain Regulation S-K disclosure requirements, including those related to MD&A.
Our updated white paper will assist business and professional services entities in applying the new revenue recognition model.
A recent FASB publication integrates previously issued FASB staff, TRG and PCC revenue recognition memos into a Q&A format.
Our updated white paper will assist entities in the life sciences industry in applying the new revenue recognition model.
The IASB has issued narrow-scope amendments to clarify how to classify debt and other liabilities as current or non-current.
Audit readiness shouldn’t be an afterthought of an acquisition. Being well prepared minimizes financial risks to your private equity firm.
Our updated white paper includes discussion of the new credit losses accounting guidance for loans measured at amortized cost.
A checklist to assist nonlenders with their transition to ASC 326, which includes the current expected credit losses model (CECL).
A large steelmaking company throughout North American looked to RSM as an advisor and partner with their implementation.
An overview of the lessor guidance in ASC 842 that most affects financial institutions that provide lease financing to their customers.
Trends and changes you need to be aware of in the SOX 404 landscape. Get ahead of the shifting expectations for 2020.
For audit committees, when considering blockchain technology, it's important to develop a strategy with executive leadership.
Recently RSM and NACD held a board round table with Chief Economist Joe Brusuelas to discuss the effects of tax and trade policies.
Each quarter, RSM's accounting thought leaders update middle market businesses on recently issued and proposed accounting guidance.
Compliance with ASC 842 includes evaluation of the tax implications that may affect businesses during the implementation.
The SEC recently proposed amendments to update certain aspects of its auditor independence framework in Rule 2-01.
Certain financial reporting issues were discussed during a recent SEC Regulations Committee meeting with SEC staff members.
A white paper about how entities in the life sciences industry may be affected by the new revenue recognition guidance in ASC 606.
The IAASB recently issued a revised standard, ISA 315, for identifying and assessing risks of material misstatement.
The ASB recently issued Statement on Standards for Attestation Engagements 19, Agreed-Upon Procedures Engagements.
The IASB recently issued an Exposure Draft to improve how information is communicated in the financial statements.
The SEC has proposed amendments to the definitions of “accredited investor” and “qualified institutional buyer.”
Learn more about the current expected credit loss standard, the London Interbank Offered Rate transition and tax reform.
Our article discusses the allocation of goodwill and related intangible assets to foreign subsidiaries in a business combination.
We have issued an updated version of our white paper to further assist entities in the technology industry in applying ASC 606.
A white paper about how entities in the technology industry may be affected by the new revenue guidance in ASC 606.
An update on the tax and accounting developments, macroeconomic outlook, trends and policies affecting the real estate industry.
Concerns have been raised that replacing Libor with an alternative reference rate may trigger a number of challenges.
The NCUA has delayed the effective date of the risk-based capital rules from January 1, 2020 to January 1, 2022.
The CECL model requires companies to consider future and current economic conditions when determining their allowance for bad debts.
The Governmental Accounting Standards Board (GASB) proposed guidance to clarify, explain or elaborate on recent GASB Statements.
Learn how boards can best understand blockchain, how to utilize in their organizations, and what types of efficiencies it can provide.
Blockchain is changing the rules of the game. Companies and their boards need to learn those rules and make them work to their advantage.
SAB No. 119 includes SEC staff interpretations regarding policies and procedures for developing CECL models and related matters.
The Financial Accounting Standards Board recently proposed changes to clarify, and make minor improvements to, the Codification.
ASU 2019-11 addresses issues raised by stakeholders during the implementation of the current expected credit losses standard.
Despite deferment of the new leasing standard, organizations should keep moving along with their lease implementation activities.
Should board members speak directly to investors on behalf of the company, at investor meetings, or not at all?
Increasingly, benefit plans are being targeted by hackers. But companies can take steps to protect themselves and their participants.
A recent publication by the CAQ and Audit Analytics gauges how audit committees approach communication of oversight activities.
The Financial Accounting Standards Board has proposed clarifications to certain sections of its 2017 hedge accounting standard.
A recent OCIE Risk Alert discusses top compliance topics observed in examinations of registered investment companies.
The Society of Actuaries has released an updated mortality improvement scale, Scale MP-2019, for use by plan sponsors.
What companies should be doing to prepare for 2020 with accounting, leasing and tax changes and preparing for a potential work slow down.
ASU 2019-08 provides guidance regarding the measurement and balance sheet classification of share-based payments to a customer.
Guidance allows transparency for investors and financial statement users to assess the timing, amount, and cash flow from leases.
FASB votes to defer the effective dates of leases, CECL and hedging for certain entities and insurance for all entities.
Blockchain technology is still in its nascent stages but it holds tremendous opportunities, particularly for the way companies are audited.
With cybersecurity posing threats to businesses, boards must work with management to gain insight into risks and appropriate protections.
Our article discusses the impact of the new guidance in ASC 340-40 on costs for construction-type and production-type contracts.
Pharmaceutical, biotech and medical device company finance leaders discuss ASC 842 lease accounting adoption complexities and challenges.
Our Effective Date Reminder lists pronouncements issued as of Nov. 1, 2019, which became effective on or after Jan. 1, 2019.
This updated version of our white paper will further assist franchisors in applying the new revenue recognition model in ASC 606.
Managers consider qualitative factors when purchasing a software license, but there are accounting issues that should be considered as well.
RSM will provide an update on recently issued and proposed accounting guidance and the implications and effects of the guidance.
Recent amendments modify some specific hedge accounting requirements to address interest rate benchmark uncertainty.
A recent SEC Final Rule enables all issuers to engage in “test-the-waters” communications with certain institutional investors.
FASB’s proposal on accounting for changes to certain contracts and hedging relationships affected by reference rate reform.
FASB’s revised proposal on classifying debt as current or noncurrent based on the contractual terms of the debt at the balance-sheet date.
The SEC recently issued a proposed rule to update required statistical disclosures for bank and savings and loans registrants.
The world of federal grants management is always changing. Read RSM’s update to understand how changes may affect your organization.
We have issued an updated version of our white paper to further assist health care entities in applying ASC 606.
The key to creating a diverse board is to think broadly. Consider strengths, competencies, industry experiences, and risk appetite as well.
The ASB issued SAS 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements.
The proposed FASB ASC 842 deferral for private companies shouldn’t prevent your organization from starting the implementation now.
A white paper about how entities in the health care industry may be affected by the new revenue recognition guidance in ASC 606.
We recently published an high-level summary of ASC 842, Leases, and an in-depth guide to lessee accounting under ASC 842.
Guidance regarding accounting for portfolio company investments held by investment companies within the scope of FASB ASC 946.
The GASB recently issued an implementation guide to provide guidance related to GASB Statement No. 87, Leases.
We have published the fourth edition of our guide to accounting for debt and equity instruments in financing transactions.
We have issued an updated version of our white paper to further assist not-for-profit organizations in applying ASC 606.
The FASB has proposed providing additional time to apply its accounting guidance for long-duration insurance contracts.
The Auditing Standards Board recently issued a proposed SAS, Auditing Accounting Estimates and Related Disclosures.
Join this webcast to help your employees actively plan, save and prepare during the different stages of employment.
A proposed Accounting Standards Update addresses accounting for convertible instruments and contracts in a company’s own equity.
The SEC recently issued a proposed rule, which, if finalized, would revise Regulation S-K Items 101, 103 and 105.
The FASB recently issued an Accounting Standards Update that amends various Accounting Standards Codification SEC paragraphs.
The IASB recently proposed replacing the reference to “significant” with a requirement to disclose “material” accounting policies.
If finalized, a recent FASB proposal would defer the effective dates for certain of its guidance for certain entities.
When it comes to managing the risk of new technologies and cybersecurity, boards have a number of new issues to consider.
A white paper about how entities in the not-for-profit industry may be affected by the new revenue recognition guidance in ASC 606.
Restaurant learns it’s important to understand the quantity of leases and complexity before embarking on an ASC842 implementation strategy.
What have leaders of public companies learned during their implementation process; how can these lessons help other entities?
Recent proposed amendments clarify how companies account for deferred tax on leases and decommissioning obligations.
The PCAOB recently released insights for audit committees regarding the auditor’s communication of critical audit matters.
The FASB staff recently issued a Q&A document to address more than a dozen frequently asked questions related to ASU 2016-13.
Our article discusses the FASB’s proposed deferred CECL effective date and the SEC’s definition of a smaller reporting company.
Professional services firms could be overlooking financial reporting standards that affect software and cloud-based platforms costs.
In July, the GASB issued an Exposure Draft to propose guidance addressing various accounting and financial reporting issues.
A recent GASB Exposure Draft addresses the accounting for Internal Revenue Code Section 457 deferred compensation plans.
The FASB recently issued a proposed ASU to address issues raised by stakeholders during the implementation of ASU 2016-13.
The FASB has added a project to its agenda to address accounting changes necessitated by reference rate reform.
The Center for Audit Quality International Practices Task Force framework can be used for monitoring inflation statistics.
The SEC clarified guidance regarding waiver requests for financial statements of entities other than the registrant in a filing.
A recent SAS addresses the auditor’s reporting on financial statements of employee benefit plans subject to ERISA.
The ASB has clarified and expanded the auditor’s responsibilities with respect to other information included in annual reports.
RSM will provide an update on recently issued and proposed accounting guidance and the implications and effects of the guidance.
FASB decides to propose deferring the effective dates for leases, credit losses, hedging and insurance for certain entities.
Private company leaders can learn from the new lease standard implementation challenges public company leaders have already experienced.
As private organizations implement ASC 842, understanding how this implementation can improve efficiency is critical.
Professional services firms, as part of implementing the new revenue recognition standard, should weigh performance obligations criteria.
ASC 842 compliance is challenging, and the effective date is quickly approaching for private companies. RSM can help smooth your adoption.
A recent proposed SSARS addresses materiality in a review of financial statements, adverse conclusions and other issues.
A recent proposed SAS discusses the evaluation of audit evidence and the use of automated tools and techniques.
The SEC recently issued a clarification to the single issuer exemption for broker-dealers, which is effective August 13, 2019.
The SEC amended its independence rules regarding when the auditor has a lending relationship with certain client shareholders.
We recently updated our hedging guide for the clarifications made by FASB Accounting Standards Update 2019-04.
We have issued an updated version of our guide to revenue recognition to reflect recent activities of the FASB, AICPA and SEC.
A recent FASB Staff Q&A provides guidance on certain aspects of the accounting for grants in accordance with ASU 2018-08.
The Auditing Standards Board recently proposed amendments to the materiality concepts discussed in existing standards.
FASB has been busy developing a number of new standards, and the time has come for many of them to be implemented.
Join the NACD and RSM to understand how your board and organization can benefit from changing technology like the power of cloud computing.
We are shaping the future of the middle market through audit innovation and technology that meet the compliance needs of our clients.
It is critical that health care organizations have a comprehensive approach in implementing the new lease accounting requirements.
Join us to learn how ASC 842 changes accounting requirements and how to capture required information and calculations in NetSuite.
The GASB recently proposed guidance on the accounting for subscription-based information technology arrangements.
The GASB has issued financial reporting guidance for government issuers’ financial reporting of conduit debt obligations.
Recent PCAOB guidance focuses on questions that may arise when the auditor is communicating critical audit matters under AS 3101.
The Center for Audit Quality has released an updated tool to assist audit committees in the assessment of the external auditor.
The PCAOB staff recently provided guidance regarding how auditors are to comply with certain provisions of Rule 3526.
A recent FASB ASU extends the scope of two private company accounting alternatives to not-for-profit entities.
The CAQ has updated its guide that provides a high-level overview of internal control over financial reporting.
A recent CAQ publication provides an understanding of emerging technologies and the risks they present to financial reporting.
The CAQ recently published an audit committee tool that provides an overview of the new credit losses standard.
The SEC recently issued a proposed rule, which would amend the definitions of accelerated filer and large accelerated filer.
The FASB has proposed Codification amendments in response to the SEC’s Disclosure Update and Simplification Initiative.
The FASB has proposed amendments intended to simplify the accounting for income taxes in accordance with ASC Topic 740.
ASU 2019-05 provides the ability to elect the fair value option for certain financial assets upon transition to ASU 2016-13.
Among other requirements, a recent standard requires additional auditor communication with those charged with governance.
A recent standard provides changes to the format of and verbiage used in the auditor’s report for audits of nonissuers.
The board can foster a leadership team that is ready for strategic shifts that drive stakeholder value and may be fundamental to survival.
Join RSM for a revenue recognition standard (ASC 606) update for business and professional services companies.
Learn about the latest investing trends, the rationale behind them and best practices to building an investment menu for your employees.
Proposed amendments would modify specific hedge accounting requirements for interest rate benchmark uncertainty.
The SEC has proposed amendments to the financial disclosure requirements for businesses acquired and for business dispositions.
The AICPA recently provided guidance for determining which costs are considered “direct care” of collection items.
The Financial Accounting Standards Board recently made clarifying amendments to certain financial instruments standards.
Our article addresses goodwill impairment when a reporting unit has a negative value as a result of the inclusion of debt.
What three lessons can private companies take away from public companies that have already implemented ASC 842?
Health savings accounts are a valuable tool for saving money for medical expenses since they offer a triple tax benefit.
A recent webinar addressed the use of the WARM method for calculating the allowance for credit losses under FASB ASC 326.
Accounting errors resulting from improper application of ASC 840 cannot be carried forward into the transition to ASC 842.
Join us on Thursday, April 25, as we review the latest accounting updates and issues that could affect nonprofit organizations.
Board members are crucial in evaluating business objectives and executive suite initiatives. Is your board equipped for change management?
Get the latest information on GASB standards that could affect your organization, including a detailed focus on the new OPEB standards.
Retail, fashion, food and beverage, and restaurant executives should ask these questions to determine the impact of ASC 606.
RSM will provide an update on recently issued and proposed accounting guidance and the implications and effects of the guidance.
If finalized, a recent proposed Accounting Standards Update would modify the current disclosure requirements for income taxes.
The American Institute of Certified Public Accountants Audit & Accounting Guide, Employee Benefit Plans, recently was updated.
A white paper describing the impact of the new revenue recognition standard on federal government contractors.
The road to compliance with FASB ASC 842 can be fraught with challenges, but some best practices can help allow for a smoother transition.
The SEC recently issued amendments to modernize and simplify some of the disclosure requirements in Regulation S-K.
The PCAOB recently issued guidance related to the requirement for auditors to communicate critical audit matters.
Our article addresses questions often raised regarding how and when cumulative dividends should be recognized on preferred stock.
Key tax takeaways for privately held, middle market companies when adopting the new lease accounting standards.
The rule’s impact reveals widespread consequences not only for lessees, but for landlords and real estate investors as well.
As organizations work to comply with lease accounting standards, it's important to evaluate the tax implications during the implementation.
After new SEC guidance, companies should evaluate cybersecurity risk and prevention processes to avoid potential enforcement actions.
ASU 2019-02 addresses the accounting for costs of episodic television series, films and license agreements for program materials.
A recent FASB proposal provides guidance regarding the measurement and classification of share-based payments to a customer.
ASU 2019-01 addresses certain interim disclosure requirements in the period of adoption and two lessor implementation issues.
Employing the proper internal controls can limit the financial and reputational damage that a company exposed to a cyberattack may face.
What can automotive manufacturers and suppliers learn from companies that have already implemented the new lease accounting standard?
Watch brief webcasts that pinpoint how ASC 842 affects the retail and restaurant sectors. Get key best practices for implementation.
We believe auditors will engage with management and the audit committee throughout the process of determining and communicating CAMs.
The SEC recently modified the deadlines for registered investment companies filing non-public monthly reports on Form N-PORT.
A recent SEC proposal would enable issuers to engage in “test-the-waters” communications with certain institutional investors.
The FASB recently solicited feedback on the recognition and measurement of deferred revenue in business combinations.
Learn the key components and requirements to consider when developing the discount rate according to the new lease accounting guidance.
In a recent CAQ video, audit committee chairs share their views on the significance of critical audit matters.
The SEC has settled charges against four companies for failing to maintain ICFR for seven to ten consecutive annual periods.
Reminder: a significant drop in share price could be a triggering event for the consideration of the impairment of goodwill.
A white paper about how entities in the consumer products industry may be affected by the new revenue recognition guidance in ASC 606.
A white paper about the private company accounting alternative that simplifies the accounting for common control arrangements.
How can your company strengthen its overall compensation packages with different plan types? Attend this webcast to find out.
Executive briefing for corporate leaders, audit committee members and board members addressing key issues for 2019.
A FASB Staff Q&A addresses use of the WARM method to estimate credit loss reserves for less complex financial asset pools.
A draft illustrative note regarding revenue recognition for SEC-registered broker-dealers is available for comment.
Business travel arrangements require employers to carefully analyze and determine proper tax treatment for employees.
Identifying characteristics of an effective board of directors helps highlight what would be missing upon the resignation of a director.
Workforce dynamics and recruitment strategies are changing. What role can the board play in talent retention best practices?
The IASB recently issued proposed guidance intended to provide clarity in assessing whether a contract is onerous.
The PCAOB recently issued amendments related to its requirements for the auditor’s use of the work of specialists.
A new PCAOB standard replaces existing standards on auditing accounting estimates and fair value measurements.
The SEC is seeking public input regarding its requirements for earnings releases and quarterly reports by reporting companies.
The SEC recently made the Regulation A exemption from registration available to Exchange Act reporting companies.
Our recap highlights some of the significant issues discussed at the 2018 AICPA Conference on Current SEC and PCAOB Developments.
The FASB has addressed three issues lessors sometimes encounter in applying Accounting Standards Codification Topic 842, “Leases.”
The CAQ International Practices Task Force has developed a framework that may be helpful in monitoring inflation statistics.
A tight labor market is creating unique workforce issues for U.S. businesses. Boards can play a role in meeting these challenges.
A recent CAQ publication shares observations from dry runs performed with respect to the communication of critical audit matters.
The SEC recently updated its frequently asked questions concerning the broker-dealer financial reporting rule.
Two recent FEI guides provide internal control considerations for adoption of the new leases and CECL standards.
Disclosure checklists to help public and nonpublic entities in disclosing the revenue-related information required by ASC 606 and 340-40.
Companies are realizing increased efficiencies and mitigating the costs of investments made in adopting ASC 842, lease accounting standard.
Join RSM for for an overview of today’s pressing accounting and tax issues your financial institution needs to know now.
Join RSM for an update on the tax and accounting developments, trends and policies affecting the real estate industry.
Join RSM as we partner with AMTdirect to bring you exclusive lessons learned in implementing the new lease accounting standard
A white paper about how asset managers may be affected by the new revenue recognition guidance in ASC 606 and cost guidance in ASC 340-40.
Join RSM for a complimentary webcast on Dec. 6 to understand the new guidelines and how it will affect your business.
The FASB recently issued an ASU that amends the transition requirements and scope of the credit losses standard.
RSM and Tango will share the top lessons they have learned working with customers across all industry sectors in this webcast.
The IASB recently issued amendments to clarify the definition of "material" and improve understanding of the current requirements.
The AICPA has issued proposed multiemployer benefit plan accounting guidance and illustrative financial statements.
Because email scams are an increasingly familiar problem, it is important to thoughtfully consider the associated risks.
An educational FASB Staff paper provides examples to help private company franchisors implement the revenue recognition standard.
Our article summarizes recent developments related to the measurement of credit losses on financial instruments.
Our white paper answers questions about the process for determining and disclosing critical audit matters in the auditor's report.
Board oversight must expand beyond company boundaries to consider procedures the of professional service firms with access to data.
From governance considerations to systems and controls, learn key IPO planning strategies for your technology company launch.
RSM and LEVERTON partner to abstract lease contracts for ASC 842 accounting with LEVERTON AI on a global scale.
In a tight labor market and rapidly changing work environment, can your organization remain competitive in recruiting and retaining talent?
The AICPA Audit and Accounting Guide, Entities with Oil and Gas Producing Activities, has been updated as of August 1, 2018.
The American Institute of Certified Public Accountants Audit and Accounting Guide, Health Care Entities, has been updated.
The FASB has added a fifth U.S. benchmark interest rate that may be used in the application of hedge accounting.
On December 18, the FASB will host a webcast geared toward private companies about implementing the requirements of ASC 606.
Recent FASB guidance broadens the private company VIE exception so that it applies to more than just common control leases.
An overview of changes to the requirements for capitalizing implementation costs with respect to customer’s accounting for cloud computing.
An overview of changes with respect to the fair value measurement disclosures in Topic 820 of the FASB’s Accounting Standards Codification.
The AICPA recently updated its Audit and Accounting Guide for life and health insurance entities as of August 1, 2018.
The SEC cautions that public companies should consider cyber threats when devising and maintaining internal accounting controls.
Complying with ASC 842 may require more time than you think. We break down key questions companies need to consider.
The Division of Corporation Finance Financial Reporting Manual now is available in both web-based and PDF formats.
Our article discusses the effective date of a new interim reporting requirement for changes in stockholders’ equity.
This article highlights the difference between maintaining accounting records on tax rather than a GAAP basis.
While the middle-market has seen skyrocketing data breach rates, it’s important for companies to insist on strict security measures.
The SEC has amended the interim financial statement requirements to require a reconciliation of changes in stockholders’ equity.
With deadlines for the standard fast approaching, here are answers to some common questions regarding the implementation process.
Employers have an opportunity to make a difference. How can they make sure their retirement plan is healthy and in compliance?
Colleges and universities must adjust to the new level of judgments and estimates required under ASC 842 and GASB 87 lease accounting.
Join RSM on Sept. 11 as we share our insights on how the new revenue recognition standard (ASC 606) affects the real estate industry.
The American Institute of Certified Public Accountants Audit & Accounting Guide, Construction Contractors, has been updated.
ASU 2018-15 addresses the customer’s accounting for the costs of implementing a cloud computing service arrangement.
ASU 2018-14 changes certain disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans.
Recently issued FASB ASU 2018-13 removes, modifies and adds certain disclosure requirements within ASC Topic 820.
A white paper about how entities in the industrial products industry may be affected by the new revenue recognition guidance in ASC 606.
A recent SEC compliance guide addresses matters related to a final SEC rule that amended the smaller reporting company definition.
The SEC recently amended certain disclosure requirements that have become redundant, outdated, overlapping or superseded.
A recent ASU addresses long-duration insurance contracts, such as life insurance, disability income, long-term care and annuities.
The AICPA Financial Reporting Executive Committee is requesting comment on two working drafts discussing ASU 2016-13 implementation issues.
An overview of the clarifications to identifying reciprocal and nonreciprocal transactions and conditional and unconditional contributions.
The third in a series of articles on internal controls for employee benefit plans, focusing on plan operational compliance controls.
The ASB recently voted to ballot for issuance as a final standard the proposed SAS on auditor reporting for plans subject to ERISA.
A recent CAQ publication is designed to help audit committees understand the auditor’s responsibility to communicate critical audit matters.
If finalized, a recent SEC proposal would simplify certain financial disclosure requirements applicable to registered debt offerings.
In July, the FASB tentatively decided to amend the effective date of ASU 2016-13 for non-public business entities.
In response to difficulties encountered in implementation of the new leases standard, the FASB recently issued amendments.
For global companies, local languages, currencies, systems and regulations can make the implementation process challenging.
With ASC 842 deadlines approaching, you should start your software implementation now to ensure that you have time to choose a platform.
The Securities and Exchange Commission recently amended Rule 701, and seeks comment on ways to modernize it and Form S-8.
New legislation will impact subsidiary reporting requirements for international companies with an Australian subsidiary or operation.
The FASB recently updated the Accounting Standards Codification for minor technical corrections and clarifications.
On July 11, the Auditing Standards Board issued a proposed Statement on Standards for Attestation Engagements.
Tech companies: New revenue recognition implementation can be challenging but there are opportunities to improve processes and systems
Insights on the latest plan options and how to evaluate and ensure you are getting the most out of your retirement plan.
Implementing (ASC) 842 will likely require a lease accounting software package. These five topics are key areas for you to consider.
A recent proposed Accounting Standards Update would modify the definition of “collections” in the Accounting Standards Codification.
The SEC Division of Corporation Finance intends to make serious deficiencies letters publicly available through EDGAR.
On June 28, the Securities and Exchange Commission voted to raise the thresholds in the definition of “smaller reporting company.”
Business and professional services organizations: Get key takeaways on revenue recognition changes from our recent webcast.
New standards for nonprofit financial statements and revenue recognition will need to be implemented over the next two to three years.
Some automotive parts entities have encountered accounting and operational challenges in applying the new revenue recognition standard.
While talent management is multi-faceted, there's often significant factors affecting employee loyalty that may have strategic implications.
A summary of changes made to the accounting for nonemployee share based payments, including such payments being within the scope of ASC 718.
A comprehensive white paper about how construction contractors are affected by the new revenue recognition guidance in ASC 606.
The American Institute of Certified Public Accountants Audit & Accounting Guide, State and Local Governments, has been updated.
SEC Deputy Chief Accountant Sagar Teotia recently discussed tax reform, revenue recognition, leases and credit losses.
Watch to learn insights on implementing the new revenue recognition standard (ASC 606) for your technology company.
RSM’s industry insiders break down the answers to five key questions on how ASC 842 may affect the retail and restaurant sector.
Boards should not only focus on complying with regulations, but also consider the perceptions of the investment community.
A new standard addresses various issues related to the performance of compilations and reviews of financial statements.
Bank executives weigh in and provide insightful information on the impact of CECL and plans for implementation.
Investors and directors can sometimes separated, but a bridge can always be built through thoughtful and deliberate communication.
While ASC 842 will affect leasing activities, technology solutions can help ease the burden that the new standard brings.
Join RSM as we share insights on how the new revenue recognition standard (ASC 606) affects the business and professional services industry.
The SEC is requesting comment on certain proposed changes to its 'Loan Provision' and other auditor independence rules.
Our article addresses private company compliance with required financial reporting under Rule 701 when issuing share-based awards.
A recent CAQ tool provides questions board members can consider as they address cybersecurity risks and disclosures.
This article addresses the accounting implications related to a donor’s use of a donor-advised fund to service a pledge.
Recent FASB Staff interpretations address the scope of Accounting Standards Update 2017-12 for prepayable financial instruments.
We recently updated our whitepaper on ASU 2016-01 to incorporate the clarifications brought forth by ASU 2018-03.
RSM provides an update on the current state of employer sponsored retirement plans including trends and best practices.
Our whitepaper explains how a private company can be in a position to efficiently adopt the FASB’s new revenue recognition guidance.
Our whitepaper demonstrates that private companies should light the fire of urgency with respect to implementing FASB ASC 606.
Get the latest information on GASB standards that could affect your organization, including a detailed focus on the new OPEB standards.
The International Accounting Standards Board recently issued a revised version of its Conceptual Framework.
An IASB proposal address voluntary accounting policy changes resulting from IFRS Interpretations Committee agenda decisions.
Recent guidance addresses the accounting considerations for payments by a partnership made under the IRS partnership audit regime.
Among other requirements, new GASB Statement 88 requires disclosure of additional information related to debt.
The CAQ recently issued a tool to help audit committees in their oversight responsibilities related to the new leases standard.
RSM International’s Global Leader for Quality and Risk, Bob Dohrer, recently was appointed by the AICPA as chief auditor.
The FASB removed from its Codification SAB Topic 5.M and certain guidance for public utility holding companies.
The Center for Audit Quality recently provided leading practices for audit committee oversight of non-GAAP measures.
Join us in partnership with LeaseAccelerator to learn about best practices for a successful implementation of your ASC 842 Lease Accounting
A recent webinar provides methods smaller, less complex financial institutions may use in their implementation of CECL.
ASU 2018-03 provides clarifying amendments for recognition and measurement of financial assets and financial liabilities.
The FASB recently clarified the opportunity to transfer prepayable held-to-maturity securities to available-for-sale.
This webcast will highlight key steps and best practices for implementation of new lease accounting standard (ASC 842).
Compliance with the revenue recognition standard may be more challenging and require more effort than many companies realize.
An executive briefing for corporate leaders, audit committee and board members addressing key financial and governance issues for 2018.
Our white paper includes information about the simplified goodwill impairment test, which no longer requires Step 2 to be performed.
Watch our webcast recap on changes and transition considerations for technology businesses related to the new revenue recognition standards.
The Dutch Council for Annual Reporting is giving companies the opportunity to report revenues and related costs after the issuance of IFRS15
A white paper that discusses topics member-owned private clubs should consider when applying the new revenue recognition guidance.
An article with information about interagency guidance issued by banking regulators related to the Tax Cuts and Jobs Act.
Gain insights on the latest cybersecurity threats for retirement and health and welfare plans and their beneficiaries.
A summary of the FASB’s decisions on Jan. 10, 2018 on various income tax accounting issues arising from the Tax Cuts and Jobs Act.
The considerations involved in estimating the fair value of a noncontrolling interest recognized in business combination accounting.
All taxpaying entities need to address the effects of the Tax Cut and Jobs Act in their reporting period that includes Dec. 22, 2017.
RSM Audit Partner Rich Stuart discusses the potential impact of ASC 842, Leases, with <i>Accounting Today</i>’s Editor-in-Chief Daniel Hood.
Plan sponsors have a variety of options that can help their participants stay the course for a healthy retirement.
Join RSM on Dec. 12. for an update on the tax and accounting developments, trends and policies affecting the real estate industry.
Changes to revenue recognition may affect your accounting and reporting processes. Join RSM’s webcast for broker-dealers to learn more.
Through strong governance, boards can help companies create lasting and successful workplace diversity strategies.
The Financial Accounting Standards Board (FASB) will begin requiring operating leases to be recorded on the balance sheet in 2019.
If adopted early, FASB’s new credit impairment model, or CECL, could have a significant effect on specialty lenders as soon as 2019.
From CECL to tax legislation, what do you need to know? Register now for our Nov. 15 webcast for key tax and accounting updates.
Read more for insights on how the new revenue recognition standard (ASC 606) will affect the construction industry.
RSM is a member of the Chamber of Digital Commerce, a trade association representing the digital asset and blockchain industry.
Webcast series addresses key challenges and opportunities found in designing, implementing and maintaining company retirement plans.
Our white paper provides information and examples on the new implementation guidance for the definition of a business.
While all leases will need to be considered under the new lease guidance, there are signiﬁcant ramiﬁcations to leases involving real estate.
Boards should prepare for a range of options as it relates to tax reform to be prepared to take action, regardless of what changes come.
Due to its complexity, preparing for and complying with ASC 606 may be more challenging than many companies realize.
Revenue recognition case study looking at best practices from General Dynamics’ ASC 606 early adoption and implementation.
While a labor shortage presents challenges for companies it can also test the resilience of management and governance leaders.
While 2019 may seem far off, planning should begin now in order to ensure an effective and efficient implementation of the new standard.
SEC auditor independence considerations for private equity funds with a registered investment adviser or an initial public offering.
Learn how RSM helped a nonprofit increase transparency into accounting process across numerous global locations.
The form simply provides assurance to the appropriate agencies that newly hired workers hold citizenship or work-authorization documents.
Brief and basic answers to key questions about the new credit losses standard that highlight what you need to know and consider now.
Even though the tax rules have not changed, a change in book recognition could create a change in the tax method of accounting.
From FASB’s CECL loss rules to anticipated tax reform legislation from the Trump administration, learn the banking issues to track in 2017.
Our views on the implications of a Trump presidency for economic growth, taxes and infrastructure, interest rates and trade.
RSM experts share best practices for casinos to prepare themselves for managing IT security risks during this complimentary webcast.
ASU 2016-18 addresses the classification and presentation of changes in restricted cash in the statement of cash flows.
The SEC is turning its attention to the real estate sector, looking at the reporting of investment-level and fund-level fees and expenses.
In this recorded webcast, RSM’s accounting thought leaders discuss the guidance in Topic 606, Revenue from Contracts with Customers.
Department of Labor revised Fair Labor Standards Act and Employee Polygraph Protection Act posters. Learn more.
CFPB outlines four key principles for loss mitigation affecting industry, consumer groups and policymakers. Learn more.
FDIC stresses importance of open communication between bank management and examiners relating to exam findings.
International investing is both an art and a science. Tailor your strategy to fit the region and the unique needs of your company.
Tax Court rejects taxpayer’s claim of capital gain treatment for deposit forfeited by prospective buyer.
Engage shareholders on a regular basis to gain perspective and input that may be valuable to your organization.
Join RSM for an overview of FASB’s new credit impairment model—one of the most significant accounting standards banks have faced in years.
Our Feb. 25 webcast will discuss best practices for benchmarking retirement plans, why this is important and how to benchmark a retirement plan.
View recording of Feb.2016 webcast. Takes a look at the changing dynamic between the audit committee and their governance responsibilities
If your organization invests and manages institutional funds in an UPMIFA enacted state, you will need to understand and play by the rules.
Questions arise when accounting for revenue earned when providing services, particularly when they are provided under a long-term contract.
Exposure draft expected from FASB on proposed nonprofit accounting standards changes.
Discussion about the accounting for property damage and other losses that an entity has insured itself against and any related insurance recoveries.
An overview of the discontinued operations guidance and disclosure requirements in ASC 205-20, including a flowchart of the critical decision points.
ASU 2015-02 is intended to make targeted improvements to the consolidation guidance in response to concerns expressed about the current guidance.
An audit team with extensive experience, early planning strategies and continuous communication plays a vital role in one company’s compliance and ...
Many clubs are aware of brand risk, but often struggle to manage it. One tool to administer the risk of standards slipping is the operational audit.
Learn how the new revenue recognition standard may affect your organization.
Review what you need to know about the new uniform grant management framework.
Strategic and accounting issues that first-out and last-out arrangements raise for BDCs making loan transfers.
A look at new compliance requirements under the Affordable Care Act and how to comply with them for benefit plans.
A conversation about what internal controls benefit plans should have in place around party-in-interest transactions.
A discussion of operational compliance controls and the questions you need to consider when putting them together.
Article on ESOP distributions, focusing on the detailed mechanics of the how, when and what value is used at the time of the sale.
The Securities and Exchange Commission (SEC) is amending rules for broker-dealers regarding customer protection, net capital, books and records and...
It recently has come to our attention that some financing entities have entered into various residential mortgage loan purchase programs, which ...
Many entities develop software to be sold or used internally, so it is important to ensure they are following the appropriate guidelines
Buyers should to consult with valuation specialists when determining the fair value of acquired inventory in a business combination.
...ASC 740 Greater transparency within financial statements The implementation of ACS 740 (formerly FIN48) was designed to provide greater...
You’ve heard the benefits of adopting an Employee Stock Ownership Plan structure for your business can be numerous and wide-ranging. How much do ...
The financial reporting resource center - leases, provides insightful knowledge on matters related to leasing.
Get a recap of our webcast on the new lease accounting rules for the health care industry and the impact ASC 842 has on financial reporting.
This resource center provides information about the FASB 842 lease accounting standard, guidance and implementation ideas.
Tango has entered into a partnership with RSM to deliver the leading lease accounting solutions to the marketplace.
An overview of ASC 842, including the requirement for lessees to recognize assets and liabilities for all but short-term leases.
Given the complexities of ASC 842, consider these critical factors for successful implementation of the standard.
Information about accounting for equity securities, debt securities and loans and other receivables, including recognition of credit losses.
A plain-English explanation of the accounting for a business combination accompanied by detailed examples, illustrations and checklists.
Gain insightful knowledge and understanding of recent standards, developments and practice issues related to financial instruments.
A summary of how providers of business and professional services may be affected by the new guidance in ASC 606.
A summary of how entities in the insurance industry may be affected by the new revenue recognition guidance upon its adoption.
Our comprehensive guide on ASC 606 includes in-depth discussion and many examples on the new revenue recognition model.
FASB’s new CECL standard is a major compliance challenge for financial services organizations. RSM can help with these new standards.
This 12-part video series covers elements of revenue recognition important to Topic 606 implementation for public and private companies.
The FASB issued new revenue recognition guidance that replaces almost all pre-existing revenue recognition guidance.
Gain insightful knowledge and understanding of accounting standards under development and proposed accounting guidance.
This financial reporting resource center contains articles and related insights on business combinations accounting topics.
This financial reporting resource center contains articles and related insights on consolidations-related accounting topics.
This financial reporting resource center contains articles and related insights on debt-related accounting topics.
This financial reporting resource center contains articles and related insights on accounting topics related to equity.
Financial Resource center with insight articles and white papers devoted to statement presentation and disclosure for middle market.
This financial reporting resource center contains articles and related insights on goodwill and long-lived assets topics.
The financial reporting resource center - income tax, provides insightful knowledge on matters related to the new tax reform for income tax.
The following resources provide insightful knowledge related to private company standard setting and miscellaneous.
The Financial Reporting Resource Center, Revenue recognition, provides insightful knowledge related to revenue recognition.
Comprehensive discussion and examples on all facets of lessee accounting, including recognizing ROU assets and liabilities for most leases.
An overview of the new guidance in ASC 606 (as amended) and highlights of the fundamental changes ASC 606 will bring.
Summary of the FASB’s recent standard-setting activities that affect, or could affect, business combination accounting under ASC 805.
What do contract costs have to do with a revenue standard? Learn how to determine if contract costs are in the scope of Topic 606.
This section provides background on revenue recognition standards and a review of the changes since the issuance of ASU 2014-09.
This video clip discusses the core principle of ASC Topic 606 and the five step model to applying the principle.
This video provides the deadlines for all entities and a description of possible transition methods for Topic 606.
In this video, learn how Topic 606, Revenue from Contracts with Customers, affects licenses, principal vs. agent guidance and other topics.
This video provides an explanation of various presentation issues as well as the disclosures that are required.
This video explains the scope of ASC Topic 606, Revenue from Contracts with Customers, and where it applies.
What is a customer contract? This video provides details on the first step of Topic 606 and how to identify a contract with a customer.
This video clip goes into Step 2 and how to identify the performance obligations in a contract with a customer.
What is the transaction price and how do you determine this? Learn how in Step 3 of applying the new revenue recognition standard.
This video clip details how to allocate the transaction price when implementing ASC Topic 606, Revenue from Contracts with Customers.
This video goes into the fifth and final step is recognizing revenue for Topic 606. Find out when a performance obligation is satisfied.
This video clip discusses the big picture items that will be changing with Topic 606, Revenue from Contracts with Customers.
A guide to understanding and analyzing the accounting guidance applicable to debt and equity instruments issued in financing transactions.
This financial reporting resource center contains articles and related insights on fair value-related accounting topics.