Early adoption is allowed for all public and non-public entities as of Dec. 31, 2016 for the Accounting Standards Update No. 2014-09.
The FASB standards are intended to promote financial reporting, providing useful information to investors and others who use financial reports. Key developments, such as lease accounting changes and updates, will have a wide impact on businesses. Accounting professionals are frequently their client's news source for these updates.
Important information on the new revenue recognition standard, ASC 606, and how its delay affects GAAP.
Businesses that were working on a plan for implementation of ASC 2014-09 now face the choice of waiting for the delayed effective date or adopting early.
Find out how to help your construction clients adapt to to ASC 2014-09.
Grasp the significant standards updates to prepare 2016 financial statements.
See the new 2017 FASB updates and how they affect your clients.
If you have clients who issue GAAP-basis financials or are nonprofit organizations, big changes in lease accounting are on the way.