Mind the GAAP and Wipfli recently wrote a short letter to the FASB highlighting a potential disclosure quirk affecting private companies adopting ASC 842, Leases, on a cumulative-effect basis. The firms have asked the FASB to issue a narrow scope amendment to address the issue.
Categories
- Cloud Computing (1)
- Business Combinations (2)
- Earnings Per Share (1)
- Credit Losses (1)
- Financial Statement Presentation (3)
- Leases (3)
- Revenue Recognition (3)
- Share-Based Payment Awards (1)
- Other Topics (5)
Recent Posts
Companies’ Goodwill Impairments Expected to Substantially Spike this Year
Mind the GAAP issues joint comment letter on the FASB’s Debt/Equity Simplification Proposals
A Strange Disclosure Quirk for Private Companies Adopting ASC 842
Subsurface Rights – ASC 842 and IFRS 16 Convergence Gone Amuck
The Intersection of ASC 606 and ASC 805: Recognition and Measurement of Assumed Contract Liabilities in a Business Combination