At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest financial reporting insights. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.
Updates to revenue recognition resources for ASU 2016-20
We have updated our revenue recognition resources to reflect the changes made by Accounting Standards Update 2016-20.
Are you sure you know when the revenue guidance in ASC 606 is effective?
Our article discusses certain factors to be carefully considered in determining when ASC 606 is effective for you.
New credit losses standard in a nutshell
Our summary provides brief answers to certain key questions regarding the FASB’s new standard on credit losses.
Valuing management incentive units
Our whitepaper discusses various issues related to the valuation of and accounting for management incentive units.
FASB simplifies the test for goodwill impairment
The FASB has simplified how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test.
Accounting ramifications related to centrally cleared derivatives
A change in the legal characterization of margin payments has accounting and disclosure ramifications for impacted entities.
FASB’s ongoing efforts to simplify hedge accounting
The FASB recently met to discuss feedback received on proposed targeted improvements to simplify hedge accounting.
Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.