Blog

Author: Sue Thompson

Accounting for Leases

June 12, 2018 by Sue Thompson
Audit & Accounting, Copeland Buhl
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 Leases early in 2016.  The primary purpose of the new standard is to present on a balance sheet leases that otherwise would have been treated only as an expense in an income statement.  The standard impacts those who...
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New Not for Profit Accounting Standard

February 21, 2017 by Sue Thompson
Copeland Buhl
In August 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-14 Not-for-Profit Entities (Topic 958):  Presentation of Financial Statements of Not-for-Profit Entities. Financial reporting guidance for Not-for-Profit (NFP) entities prior to the new standard had not undergone any major changes in 20 years.  The FASB’s goal was to enhance...
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