Category: Global accounting standards
Revenue Recognition and Lease Accounting Standards Insights
They are both hefty in size and complexity: The arrival of ASC 606, “Revenue from Contracts with Customers,” ASC 842, “Leases,” was a long time coming, and their complexity was exacerbated by the fact that their in…
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Key Internal Accounting Controls
What are some of the main purposes of strengthening a company’s internal controls over financial reporting? One is to set up a defense to minimize the risk of a material misstatement to the financial statements. Another …
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Time for a Checkup: How COVID-19 Can Affect Your Financial Statements
Secondary to the toll the coronavirus pandemic is having on people’s health and lives around the globe is its impact on companies. It’s forced companies to adapt quickly to shifts in supply, production and distribution…
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How to Deal with the New Revenue Recognition and Lease Accounting Standards? Help for Private Companies
What’s the biggest takeaway from the experiences of public companies that have adopted the new revenue recognition and lease accounting standards? For both accounting rules, the process has been more time-consuming and c…
See MoreBeyond rev rec—planning ahead for 2018 financial reporting
I get it—implementing the new revenue recognition rules has consumed a lot of your technical accounting team’s time, as it has at my company. The new standard likely has a steady spot at the forefront of your audit com…
See MoreHow to amp up your year-end disclosures for the revenue accounting changes ahead
It’s always healthy to take a fresh look at your disclosures and discussions in your annual reports. Situations change, boilerplate language doesn’t always cut it, and changes in accounting policies make it a necessity…
See MoreRethinking revenue and realizing opportunities in the new rules
It’s game time. Deals your company is making now could be affected by the new revenue recognition standard, and the effective date will be here before you know it. This is why it is so important for finance organizations…
See MoreConquer complexity: Get briefed on the latest accounting updates
In the accounting world, the rules are ever changing. Large in scope and long awaited, the new rule for recognizing revenue continues to get clarifications in the months leading up to its effective date. The new leasing st…
See MoreAn executive briefing: Demystifying the latest accounting rules and what you need to think about
A flurry of effective dates, interpretive guidance and new rules—companies are processing a lot of information coming their way from the Financial Accounting Standards Board and the Securities and Exchange Commission. So…
See MoreWhat CFOs need to know about the new leasing standard
One loud giant thud is the sound you’d hear if you printed out all 485 pages of the new lease accounting standard and threw it on your desk. Multiple giant thuds. That’s what we’ll all be hearing when trillions of do…
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