The FASB began 2016 with an update to accounting for financial instruments. ASU 2016-01 removes the existing categories and prescribes the same accounting treatment for all equity securities measured at fair value. Read the article from the Spring 2016 GYF Perspectives.
One of the most daunting issues related to purchase price allocations related to business acquisitions has been the requirement that acquired goodwill and other intangibles be evaluated annually for impairment of value. For purposes of complying with generally accepted accounting procedures (GAAP), this requirement has been accomplished via a two-step process that, ultimately, was a […]
The Members of the Financial Accounting Standards Board (FASB) met on October 30, 2015 to discuss the feedback received on the proposed Accounting Standards Update, Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. The timing of a final release for the ASU has not yet been […]
In the Winter 2015 edition of our Valuation Perspectives newsletter, we noted that in December 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2014-18, which provides private companies with an accounting alternative that, in a business combination, would result in separately recognizing fewer intangible assets. Specifically, if elected, a privately-held company would […]
The Financial Accounting Standards Board (FASB) recently released an exposure draft of a Proposed Accounting Standard Update which will impact Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954). The objective of the update is to improve the requirements for net asset presentation and improve the information in the financial statements and notes relating […]
The Financial Accounting Standards Board (FASB) has announced that it is getting ready to release a set of proposals that could have a major impact on the way nonprofit organizations present their financial statements. The FASB voted earlier this month to issue a proposed accounting standards update (ASU) that would include improvements to the current […]