For anybody in the accounting world, one thing is clear: accounting standards never stay the same. In this multi-part series, “New accounting standards you should know,” I will catch you up on the latest accounting standard updates. Previously, we examined the latest updates for business combination accounting (ASC 805). For our final article of the series, let’s talk about the end of LIBOR.

For anybody in the accounting world, one thing is clear: accounting standards never stay the same. In this multi-part series, “New accounting standards you should know,” I will catch you up on the latest accounting standard updates. Previously, we talked about simplifications to the accounting for complex debt and equity. This week, let’s look at some more improvements, this time in business combination accounting (ASC 805).

For anybody in the accounting world, one thing is clear: accounting standards never stay the same. In this multi-part series, “New accounting standards you should know,” I’ll catch you up on the latest accounting standard updates. Previously, we talked about the current expected credit loss model (CECL) under ASC 326. Today, let’s look at simplifications for complex debt and equity.

For anybody in the accounting world, one thing is clear: accounting standards never stay the same. In this multi-part series, “New accounting standards you should know,” I’ll catch you up on the latest accounting standard updates. Previously, we talked about the recent overhaul to revenue recognition due to ASC 606. Now let’s dive into something even sexier: the Current Expected Credit Loss (CECL) model under ASC 326.

For anybody in the accounting world, one thing is clear: accounting standards never stay the same. Accounting standards boards are constantly updating authoritative guidance to keep accounting in step with the latest business developments and new industries, and recent years have seen an overload of completely new frameworks for critical areas of a business such as revenue recognition, leasing, acquisitions, and investments. We recently touched on the new lease standard of ASC 842; this multi-part series will catch you up on other impactful accounting standard updates to be aware of. Kicking off the series, we look at revenue recognition.

The recent conflict arising from the Russian government’s invasion of Ukraine has impacted countless people – both in the affected countries and around the globe. Many countries are now evaluating the uncertain future impact on their own governments and economies as they support Ukraine in its time of need. In this article, we focus on a few key areas of potential impact for most businesses, specifically as it relates to their accounting and financial reporting, and share an easy way you can support Ukraine through this crisis.

Last week we began to demystify crypto. We talked about the US GAAP scope of guidance that it is believed to fall under, and how to recognize and hold it on your balance sheet. Now let’s tackle when to consider impairment, and how to derecognize it through use, sale, or exchange.

Admit it – cryptocurrency is a strange concept; it didn’t even exist 15 years ago. But in just two years, the crypto market cap has reached unbelievable levels of up to $3 trillion (and crashing down to $1.7 trillion in January 2022). Tesla started (and stopped) accepting Bitcoin as payment for car purchases, investors pay millions for a Bored Apes NFT, the Los Angeles Lakers now play in the Crypto.com Arena, and some people ended up crazy rich buying Dogecoin just because it featured a picture of a famed Shiba Inu meme. Needless to say, the world of cryptocurrency is a weird place, and it’s high time we start making sense of the madness.