Recent articles
Goodwill in a Bad Economy
Learn about the value of acquired goodwill in the current economy.
Rental Property Income Tax: Why Active or Material Participation Matters
Owning rental real estate can be a great supplemental source of income in addition to a normal day job. What is most commonly misunderstood about this type of investment is how an individual can treat the income and or losses for tax purposes. Determining your level...
FASB Eliminates Accounting Guidance for Troubled Debt Restructurings by Creditors
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments intend to improve the decision usefulness of...
IFRS 9 – Making this big standard more digestible!
IFRS 9 fundamentally changed the way financial instruments were accounted for and reported under IFRS. The standard was issued in various phases, taking years to develop and issue. Given the topic and the extent of the changes in the standard, it generally takes hours...
How to Conduct an Inventory of Your Leases under GASB 87
Learn the definition of a lease under GASB 87 and how to create a lease inventory under the new standard.
The clock is ticking for private cos. to tackle lease accounting
Private companies need to make a plan for long-term compliance with the new lease accounting standards.