Revenue Recognition – The New Reality for Construction Companies

April 3, 2012 by Bob Biehl

In June 2010, the Financial Accounting Standards Board (FASB) released an exposure draft on a new revenue recognition standard that would change the way all businesses, not just contractors recognize revenue.  The goals of the new standard were: Develop a [...]

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Notes from my first “Step Zero” goodwill impairment test

October 17, 2011 by Brian Bornino

I was consulting with a valuation colleague from another firm who presented me with my first opportunity to review a company-prepared memo in which a company applied the FASB’s new “Step Zero” process to qualitatively determine whether goodwill impairment exists.  [...]

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FASB Is At It Again: Changes to OCI Presentation

June 24, 2011 by Mary Stucke

Do you love the technical side of accounting so much that sometimes you find yourself on the Financial Accounting Standards Board (FASB) website hitting refresh on your browser over and over again hoping there will be a new pronouncement out [...]

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FASB’s Exposure Draft on Goodwill Impairment Misses the Mark

May 9, 2011 by Brian Bornino

On April 22, 2011, the FASB issued an Exposure Draft to ASC 350, Intangibles – Goodwill and Other that would alter the process by which companies would conduct goodwill impairment testing. The highlight of the Exposure Draft is that instead [...]

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FASB Takes a Step Back on Proposed Lease Accounting Standard Changes

March 1, 2011 by Mary Stucke

If you have been “enjoying” following proposed changes to accounting for leases (who doesn’t?), you may have been thinking to yourself: This is going to hurt my Company’s debt to equity ratio This is going to make it harder to [...]

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