fasb update Archives - Gumbiner Savett

What Public Companies Need to Know: FASB’s New Lease Accounting Standard
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What Public Companies Need to Know: FASB’s New Lease Accounting Standard

Audit & Accounting

What Public Companies Need to Know: FASB’s New Lease Accounting Standard

By Vaibhav Tandon|2017-08-18T17:34:34+00:00August 18th, 2017|Categories: Audit & Accounting|Tags: fasb update, Financial Accounting Standards Board FASB, lease accountant santa monica, lease cpa santa monica, public company leasing, public company leasing standards, real property lease, vaibhav tandon accountant, vaibhav tandon audit, vaibhav tandon cpa, vaibhav tandon gumbiner savett|

Recently, the Financial Accounting Standards Board (FASB) issued its long-awaited, new lease accounting standard update, ASU No. 2016-02, Leases (Topic 842). This ASU affects the financial statements of companies that lease real property, equipment, vehicles and other fixed assets. Here are four things public companies need to know to implement and be compliant with [...]

Accounting News: FASB Issued Proposal for Consolidation of Variable Interest Entities
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Accounting News: FASB Issued Proposal for Consolidation of Variable Interest Entities

News

Accounting News: FASB Issued Proposal for Consolidation of Variable Interest Entities

By Amit Jain|2017-07-25T00:25:38+00:00July 25th, 2017|Categories: News|Tags: accounting and audit santa monica, accounting audit update, amit jain cpa, fasb, fasb update, Financial Accounting Standards Board FASB, variable interest entites for private company, vie expert cpa santa monica|

On June 22, 2017 FASB proposed an Accounting Standards Update (ASU) to simplify and improve financial reporting associated with consolidation of variable interest entities (VIEs) for private companies. Concerns: Private company stakeholders, Private Company Council (PCC), continue to express difficulty in applying VIE guidance to common control arrangements and requested that FASB address certain areas [...]