News

On July 17, the Financial Accounting Standards Board (FASB) unanimously voted to propose a sweeping set of split deferrals for certain entities. The proposal, which is expected to be published in August, would delay new accounting rules for 1) leases, 2) credit losses on loans, 3) long-term insurance contracts, and 4) hedge accounting. The delays

The use of profits interest, a relatively new form of equity compensation issued by limited liability companies (LLCs), has spiked. Now, private companies and their advisors are asking the Financial Accounting Standards Board (FASB) to simplify the complex rules that have evolved to account for these transactions. Accounting rules As the name suggests, “profits interest”

Stock repurchases have skyrocketed in recent years, fueled, in part, by cash flow generated by the Tax Cuts and Jobs Act (TCJA) and the availability of inexpensive debt capital. So-called “buybacks” have become a political hot button, and some lawmakers want to enhance the information companies provide to shareholders about these transactions. A troublesome trend

On May 30, the Financial Accounting Standards Board (FASB) issued an accounting standard that enables not-for-profit organizations to use the easier, less costly methods available to private companies for reporting goodwill and certain identifiable intangible assets. The latest FASB update is effective immediately. It’s designed to give donors and other users of nonprofits’ financial reports