Real Estate

FASB Update for Private Companies

In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-03: Intangibles – Goodwill and Other (Topic 350), Business Combinations (Topic 805), Consolidation (Topic 810), Derivatives and Hedging (Topic 815). The FASB issued this ASU to address concerns raised by The Private Company Council (PCC) as to how recent accounting […]

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FASB Issues New Lease Accounting Standards

On February 25, 2016, the Financial Accounting Stan­dards Board (FASB) issued its long-awaited new financial accounting and reporting stan­dards for leases, Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). Under development for a decade, Topic 842 will drastically affect the financial statements of many businesses by requiring them to report operating lease obligations as […]

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