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Goodwill impairments surged during pandemic
This article discusses the increase in goodwill impairments during the COVID-19 pandemic.
Government accountants procrastinating on GASB leases standard
Government accountants needs to adopt the new GASB standards now to avoid scrambling in the future.
Marijuana Banking: Things To Be On the Lookout for in an Evolving Industry
By Rachel Backus, BSACS – Internal Audit and Compliance Manager, Financial Institutions Group Over the past few years, the United States has experienced continued growth in the cannabis industry. According to the National Conference of State Legislatures, 18 states to...
FASB expands CECL disclosures to address troubled debt restructurings, write-offs
The Financial Accounting Standards Board released an accounting standards update Thursday aimed at improving the usefulness of information offered to investors about certain loan refinancings, troubled debt restructurings, vintage disclosures and gross write-offs,...
An Overview of Goodwill
What is goodwill? Goodwill is an intangible asset resulting from the purchase of an entity for more than its fair market value. The concept of goodwill is used when an entity is acquiring another entity. It is recorded when the buying price is more than the sum of the...
Government Fund Accounting: GASB 87 Leases Within GASB 34 Consolidation to ACFR
This article provides accounting considerations for leases under GASB 87, as well as how they become part of the statement of net position and statement of activities under GASB 34.