Lease accounting has not been immune to recent global changes. While leases may not top your list of priorities, the current environment is affecting accounting standards such as lease modifications and terminations. Join BKD as we explain how to…

In March, FASB released a set of technical corrections covering accounting guidance for various financial instruments. The changes in Accounting Standards Update (ASU) 2020-03 provide clarifications and improvements to simplify or reduce operational…

This article provides an overview of proposed and final standards issued by FASB through June 2020, along with recent updates on outstanding exposure drafts and research projects.

On May 20, 2020, FASB reviewed feedback on its April 21, 2020, proposal to delay the effective date for Accounting Standards Codification (ASC) 842, Leases, for private companies and all not-for-profits, including an NFP that has issued—or is a…

FASB recently issued Accounting Standards Update (ASU) 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting.

SARS-Co V-2 virus and the incidence of COVID-19 (COVID-19) are expected to cause many lease modifications and concessions. Guidance in Accounting Standards Codification 840 and 842 includes analysis to determine whether a modification results in a…

FASB met on April 8, 2020, to address the most pressing issues stemming from COVID-19. This article includes details on a proposed one-year lease delay for private companies and all not-for-profit entities, including NFP conduit bond obligors that…

Accounting Standards Codification (ASC) 842 has been a reminder of the well-known children’s story about a boy who sat on a hillside watching the village sheep. In his boredom, he found amusement in creating fear and chaos among the sheep and…

FASB is proposing new presentation and disclosure requirements for gift-in-kind donations due to concerns from some financial statement users. Read on for more details.

With private companies and not-for-profit (NFP) organizations in the home stretch of implementing Accounting Standards Codification 606, FASB posted an Implementation Q&A on its website that incorporates all previously issued FASB staff and…