Accounting Standards

Contributions vs Exchange Transaction for Not-for-profits

by Richard Fischer
On June 21, 2018, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. Read more

Leases: Accounting Standards 2016-02

by Richard Stephenson
Even though effective dates for ASU 2016-02 appear to be far in the future, companies should think about preparing for this new standard sooner rather than later because of FASB's new revenue recognition. Read more