Articles & Publications

The Financial Accounting Standards Board’s (FASB) new revenue recognition standards will not only affect public companies, but also many private companies whose lenders or investors require them to follow generally accepted accounting principles (GAAP). If your organization is one. Read More >>

What’s Going On The Financial Accounting Standards Board (“FASB”) recently voted on a proposal to delay the effective dates for four significant standards related to accounting for leases, credit losses, derivatives and hedging, and long-duration insurance contracts. The proposal. Read More >>

According to the Institute for Business and Home Safety, an estimated 25% of businesses don’t reopen following a major disaster. The Federal Emergency Management Association (FEMA) paints an even bleaker picture, putting the number between 40-60%, with another 25%. Read More >>

When the stock market took a precipitous plunge this past December, there was immediate chatter on the possibility of sliding into another recession. It occurred to me that not only have we gone nearly ten years without a recession,. Read More >>

The finale of our series. At the beginning of this series, we mentioned that revenue is the single largest line item in most companies’ financial statements, and yet when you look at footnote disclosures, you will see that in. Read More >>

The good news for nonprofits is that contribution revenue was determined by the accounting standard setters to be “out of scope” for these new standards. Accordingly, no assessment of contribution revenues is required; however, these organizations don’t just get. Read More >>

The Service Industry can be complicated in terms of revenue recognition. In professional services, contracts (whether express or implied) may provide that contractors can bill by the hour or by the project, and terms may allow for progress billing. Read More >>

Companies that focus their efforts strictly in distribution may not think there is much change that could be required to their methods of revenue recognition. After all, they just take someone else’s product and ship it to their own. Read More >>

Sales in a manufacturing environment can take a wide variety of directions that would result in significantly different revenue recognition timing on a company’s financial statements. If your operation makes a very simple product that is sold on a. Read More >>

As the new standards are being rolled out, the construction industry needs to address these standards as well as the unique accounting issues that the construction contractor faces with preparing their annual financial statements. There are several unique items. Read More >>