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New Accounting Standards Implementation
Significant accounting standards and changes passed by the International Financial Reporting Standards Foundation and the Financial Accounting Standards Board have created heavy compliance burdens and complex accounting challenges that lean accounting and finance departments in many organizations often struggle to handle.
Our experienced technical accounting professionals can help your organization understand, prepare for and implement such standards. Whether it’s revenue recognition, lease accounting standards or Current and Expected Credit Loss (CECL), our team can provide the technical proficiency, keen understanding and industry-specific knowledge you need to keep your accounting and finance department informed and in compliance.
How can we help you?
To discuss how our team can help your business, contact us by phone at 800.274.3978 or
most recent insights
FINANCIAL REPORTING INSIGHTS
Share-based consideration payable to a customer
ASU 2019-08 provides guidance regarding the measurement and balance sheet classification of share-based payments to a customer.
CASE STUDY
RSM helps global commercial kitchen retailer adopt ASC 842
Identifying the service arrangement population and review of identified service arrangements were key in this ASC 842 compliance process.
INSIGHT ARTICLE
FASBs new leasing standard guidance under ASC 842
Guidance allows transparency for investors and financial statement users to assess the timing, amount, and cash flow from leases.
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.
TESTIMONIAL
What are the complexities of adopting ASC 842?
Syneos Health, a public company, shares its ASC 842 implementation journey and how RSM assisted with acting as an extension of their team.
ARTICLE
Visual Lease and RSM to Provide Enterprise Lease Accounting Solutions
RSM partners with Visual Lease to provide clients with a solution to efficiently comply with new accounting standards.
TAX ALERT
IRS releases new list of automatic method changes for 2019
Revenue Procedure 2019-43 supersedes Rev. Proc. 2018-31, providing procedures to change accounting methods with automatic consent.
FINANCIAL REPORTING INSIGHTS
Recognizing costs in construction and production-type contracts
Our article discusses the impact of the new guidance in ASC 340-40 on costs for construction-type and production-type contracts.
FINANCIAL REPORTING INSIGHTS
Updated white paper: Changes to revenue recognition for franchisors
This updated version of our white paper will further assist franchisors in applying the new revenue recognition model in ASC 606.
WHITE PAPER
Changes to revenue recognition for franchisors
Franchisors are in for major changes in the way they recognize revenues. Learn more about the new standards and how to address them.