Many recent accounting standards updates (ASUs) have been written to simplify or clarify U.S. generally accepted accounting principles (GAAP) and have permitted early adoption. Early adopting some of these ASUs could streamline processes for the closing of year end and preparation of financial statements.
Our publication, Accounting Updates that Impact 2016 Financial Reporting, contains information about standards that are required to be adopted for year-end December 31, 2016 financial statements of both public and private companies.
