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Overview of FASAB (Federal Accounting Standards Advisory Board)
What is FASAB? The Federal Accounting Standards Advisory Board, or FASAB, is the body that regulates generally accepted accounting principles (GAAP) for the federal government and its entities. The board is comprised of nine members, three of which are from federal...
How To Convince Your Board You Need a GASB Software Solution
Use these tips to convince your board to get accounting software.
5 Reasons to Reevaluate Your Accounting Software
This article discusses how to reevaluate your accounting software.
When is an accrual needed if you track accrued paid time off?
Many companies provide paid time off to employees, however not all employees use the entirety of their time off within the company’s fiscal year and roll over time to be taken in the following year. When this happens, it is the responsibility of the employer to track...
Lease Modifications and Remeasurements under ASC 842
Explore lease modifications under ASC 842.
FASB Proposes to Eliminate Accounting Guidance for Troubled Debt Restructurings
The Financial Accounting Standards Board (FASB) has issued proposed Accounting Standards Update (ASU), Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The proposed ASU intends to improve the decision usefulness of...