Surprise! On April 8 th, FASB delayed for one year the implementation of the new ASC 606 revenue recognition standards for private companies,[1] citing the coronavirus pandemic. In addition to ...
Members of the Financial Accounting Standards Board voted 6 to 1 at a meeting in March to create a new, optional transition method for lessees under the ASC 842 lease accounting standards. The new ...
When the calendar flipped from 2021 to 2022, your private company didn’t only enter yet another year. Instead, it entered when the latest Financial Accounting Standards Board (FASB) ASC 842 compliance ...
The January webcast also included a deep dive into step 3 of the five-step revenue recognition process outlined in FASB ASC 606. The AICPA A&A Focus Series webcast on Jan. 8 invited back experts for a ...
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