/Tag: ASU

Is your company ready for ASU No. 2014-09?

By |2016-10-11T21:55:34+00:00October 11th, 2016|Categories: Audit & Accounting|Tags: , , , |

A landmark financial reporting update is replacing about 180 pieces of industry-specific revenue accounting guidance with a single, principles-based approach. In May 2014, the Financial Accounting Standards Board (FASB) unveiled Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. In 2015, the FASB postponed the effective date for the new revenue guidance by [...]

Private Company Update: Accounting for Goodwill

By |2017-05-24T13:42:30+00:00February 5th, 2014|Categories: Business Advice, International Tax|Tags: , , , , , , , |

In mid-January, 2014, the FASB (Financial Accounting Standards Board) issued an ASU (Accounting Standards Update) to U.S. GAAP (Generally Accepted Accounting Principles) that provide private companies with alternatives related to accounting for goodwill. The goal is to create simplification in accounting and a reduction in application cost for private companies. Intangibles-Goodwill and Other relates to [...]

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