Category Insights
In August 2020, the Financial Accounting Standards Board (FASB) issued updated guidance to simplify the accounting rules for convertible instruments and contracts in an entity’s own equity. The changes will provide investors with less-costly, more-comparable information that’s easier to understand.
FASB Approves New Rules For Goodwill Triggering Events
On February 10, the Financial Accounting Standards Board (FASB) voted 6 to 1 to finalize its December 2020 proposal on the assessment of events that may trigger a goodwill impairment test. However, the scope of the guidance has been expanded to cover a broader number of private companies and not-for-profits in the final rules.
Making Sense of Your Statement of Cash Flows
The statement of cash flows essentially tells you about cash entering and leaving a business. It’s arguably the most misunderstood and underappreciated part of a company’s annual report. After all, a business that reports positive net income on its income statements sometimes doesn’t have enough cash in the bank to pay its bills. Reviewing the statement of cash flows can provide significant insight into a company’s financial health and long-term viability.
Coming Soon: Changes to Income Tax Reporting
In December 2019, the Financial Accounting Standards Board (FASB) issued an updated accounting standard that simplifies the complex income tax accounting requirements. Here are the details.
Should My Distressed Company Consider a Debt Restructuring?
Many businesses have experienced severe cash flow problems during the COVID-19 pandemic. As a result, some may have delayed or missed loan payments. Instead of filing for bankruptcy in court, delinquent debtors may reach out to lenders about restructuring their loans.
COVID-19 Accounting and Internal Control Considerations for REITS
The impact of the pandemic varies widely across real estate and REIT sectors, and for some, the effects have been severe. As COVID-19 caused shutdowns and other restrictions across the nation, retailers and their landlords have been hit particularly hard.…
13 Considerations to Reduce Construction Project Risk During These Challenging Economic Times
When COVID-19 slammed the breaks on the U.S. economy and imposed government mandated restrictions on business activity, construction activity coast to coast suddenly slowed and, in some cases, stopped. The vast ecosystem of stakeholders—from contractors, suppliers and workers to the…