If your company has recently completed a business acquisition, then a purchase price allocation in accordance with Accounting Standards Codification Topic 805 Business Combinations (“ASC 805”) is required. ASC 805...
The Financial Accounting Standards Board (“FASB”) issued ASC 606, Revenues from Contracts with Customers, and ASC 340-40, Other Assets and Deferred Costs – Contracts with Customers, and the International Accounting...
On October 16, 2019, the FASB affirmed its decisions on two proposed Accounting Standards Updates (ASUs) to extend the deadline to implement FASB standards on current expected credit losses, ASC...
Having good internal controls is important to mitigate risks, increase efficiency, enhance compliance, and provide organizations a greater chance to achieve their business objectives. However, if the internal controls are...
ASC 842, Leases, became effective for public business entities for annual periods beginning after December 15, 2018 and interim periods therein. For all other entities, including private companies, ASC 842...
The use of proper, acceptable valuation techniques and analysis is critical for accounting and tax reporting purposes. Valuation errors that impact financial reporting can cause audit issues and delays, as...