Financial Reporting Insights
Updated: Goodwill accounting alternatives for certain entities
We recently updated our white paper to reflect the new goodwill accounting alternative provided in FASB ASU 2021-03.
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Ideas & Insights
Financial Reporting Insights
Presentation and disclosure of contributed nonfinancial assets
The FASB recently issued requirements regarding the presentation and disclosure of contributed nonfinancial assets by nonprofit entities.
Financial Reporting Insights
FASB to provide limited deferrals for ASC 606 and ASC 842
FASB to propose deferring the effective dates of ASC 606 for private franchisors and ASC 842 for certain entities.
Financial Reporting Insights
Updated comparisons of U.S. GAAP and IFRS on a variety of topics
Our comparisons provide an overview of the significant differences between U.S. GAAP and IFRS on a variety of topics.
Financial Reporting Insights
Proposal: Accounting for contributed nonfinancial assets
The FASB has issued a proposed ASU regarding the accounting by not-for-profit entities for contributed nonfinancial assets.
Financial Reporting Insights
ASUs defer various effective dates (including CECL & leases)
FASB votes to defer the effective dates of leases, CECL and hedging for certain entities and insurance for all entities.
Financial Reporting Insights
FASB provides goodwill impairment triggering event alternative
The FASB has issued ASU 2021-03, which provides a new goodwill impairment alternative for private companies and not-for-profits.