UPDATE: FASB Votes to Defer Effective Date of the New Revenue Recognition Standard
Updated from an earlier posted Schneider Downs article regarding the deferral of ASU No. 2014-09. The Financial Accounting Standards Board (FASB) had a
Does Your Organization Require an A-133 Single Audit? The Vendor vs. Subrecipient Distinction
Making this distinction properly is very important for organizations receiving federal awards. Subrecipients are subject to audit under A-133, while payments
Topic 606 and Claim Recognition - What Changes for Construction Contractors?
In May of 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers
OMB Uniform Guidance Interim Final Rule Addresses Cost Reimbursement
On December 18, 2014, The Office of Management and Budget (OMB) released the interim final rule for Administrative Requirements, Cost Principles and Audit
Can For-Profit Subsidiaries of Not-for-Profit Entities elect to Amortize Goodwill under ASU 2014-02?
In January 2014, FASB issued ASU No 2014-02, Intangibles- Goodwill and Other, allowing private companies the option of amortizing goodwill over a 10-year
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