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.
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Recent Posts
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
Agenda request to address the accounting for warrant modifications