News & Insights
Mind the GAAP issues joint comment letter on the FASB’s Debt/Equity Simplification Proposals
Mind the GAAP and Wipfli recently responded to the FASB’s proposals on simplifying the accounting for debt and equity financings. The firms generally supported the FASB’s recommendations, but requested that the FASB reconsider one of its proposals and to expand the scope of the project to address stock-settled debt.
Spike in Corporate Stock Buybacks Raises Speculation about Adequacy of Accounting Rules
In a recent article by the Thompson Reuters news agency, Scott Ehrlich, President of Mind the GAAP, shared his views on the current accounting requirements for share buy-backs. Read the article.
A Strange Disclosure Quirk for Private Companies Adopting ASC 842
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.
Subsurface Rights – ASC 842 and IFRS 16 Convergence Gone Amuck
Discussions at a recent IFRS Interpretations Committee highlight that international and U.S. practitioners may be interpreting new U.S. GAAP and IFRS leasing guidelines differently.
The Intersection of ASC 606 and ASC 805: Recognition and Measurement of Assumed Contract Liabilities in a Business Combination
As companies, both public and private, adopt the new guidance in ASC Topic 606, Revenue from Contracts with Customers, certain unexpected practice issues have begun to emerge, including how to recognize and measure deferred revenue liabilities assumed in a business combination.
Agenda request to address the accounting for warrant modifications
Mind the GAAP joined five other professional services firms in requesting that the FASB promulgate guidance on the accounting for warrant modifications – a transaction that has significantly increased in frequency over the past few years.
Mind the GAAP Comments on the FASB’s Proposals On Cloud Computing Implementation Costs
An increasing number of software providers are requiring their customers to purchase cloud-based access to the exact same software that was once offered through traditional licenses. U.S. GAAP provides guidance on how companies that license software should account for the costs of acquiring and implementing that software. But similar guidance doesn’t exist on how to account for costs associated with implementing a cloud-based arrangement. The FASB has attempted to fix this omission, and Mind the GAAP has provided feedback in a comment letter.
Mind the GAAP Comments on the FASB’s Proposals Around Nonemployee Share-Based Payment Awards
Mind the GAAP is generally supportive of the proposed amendments to simplify the accounting for nonemployee share-based payment transactions. However, we believe that the proposed standard should address a specific practice issue we see at many of our clients.
How the New Revenue Rules Impact Incentive Compensation Arrangements
Scott Ehrlich from Mind the GAAP shares his views on how the new revenue guidelines in ASC 606 can affect executive compensation programs.
The FASB’s New Guidelines and Their Effect on Leasing Arrangements (a Mind the GAAP/Moss Adams Publication)
In this guide, we focus on how the new lease accounting rules in ASC 842 apply to lessees…
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