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It’s Not Too Early to Start Thinking About 2019 Financial Statement Reporting
Posted by Peter Gold on Mon, Mar 18, 2019 @ 10:39 AM

As you wrap up your 2018 financial reporting and move into 2019, you may want to take stock of the changes that will come into effect in 2019. For public companies, the long awaited changes to revenue recognition are being applied. Private companies have several small modifications that may make their reporting a little easier.

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Topics: private company, FASB, public company, Financial Accounting Standards Board, Peter Gold, Financial Statement

Was a Business Acquired? Updates to the Definition of a Business
Posted by Peter Gold on Mon, Jun 25, 2018 @ 06:15 PM

Recently, the Financial Accounting Standards Board (FASB) released guidance clarifying the definition of a business. Accounting standards update (ASU) 2017-01, Business Combinations (Topic 805) Clarifying the Definition (ASU 2017-01) seeks to narrow the circumstances where a set of assets and activities qualifies as a business. The changes are anticipated to result in more transactions being accounted for as asset acquisitions instead of business combinations.

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Topics: FASB, Financial Accounting Standards Board, definition of a business, Peter Gold

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