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Audit, Compilation & Review News


06/04/2020

COVID-19: FASB Issues Delay For Leases And Revenue Recognition Standards For Private Companies And Not-For-Profit Organizations


The FASB has issued ASU 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities, which allows for the postponement of effective dates of ASU 2014-09, Revenues from Contracts with Customers (Topic 606) and ASU 2016-02, Leases (Topic 842) for certain entities in an effort to provide much needed relief as a result of the COVID-19 global pandemic.

05/21/2020

COVID-19: FASB Proposes Delay For Leases And Revenue Recognition Standards For Private Companies And Not-For-Profit Organizations


The FASB is proposing the postponement of effective dates of ASU 2016-02, Leases (Topic 842) and ASU 2014-09, Revenues from Contracts with Customers (Topic 606) for certain entities in an effort to provide much needed relief as a result of the COVID-19 global pandemic.

04/23/2020

COVID-19: FASB Proposes Delay for Leases And Revenue Recognition Standards For Certain Companies


The FASB is proposing the postponement of effective dates of ASU 2016-02, Leases (Topic 842) and ASU 2014-09, Revenues from Contracts with Customers (Topic 606) for certain entities in an effort to provide much needed relief as a result of the COVID-19 global pandemic.

07/18/2019

Focus on Assurance: FASB Votes To Propose Delay In Effective Dates Of Four ASUs For Certain Entities


The FASB has voted to propose a deferral of the effective dates for several of its recent standards that would provide at least an additional year to companies that have not yet adopted the standards.

02/26/2016

Focus on Assurance: Financial Reporting Over Lease Transactions


The Financial Accounting Standards Board (FASB) has released an Accounting Standards Update (ASU) designed to improve financial reporting over lease transactions. The ASU will impact all companies and other organizations that lease assets, including real estate, equipment and other personal property.