Alternatives reduce private company
cost of standards compliance
Two accounting alternatives within the U.S. generally accepted accounting principles, issued by the Financial Accounting Standards Board on Jan. 16 2014, should reduce the cost and complexity of complying with accounting standards for many private companies.
Those two alternatives were issued through Accounting Standards Update (ASU) 2014-02, Accounting for Goodwill, and ASU 2014-03, Accounting for Certain Receivable-Variable, Pay-Fixed Interest Rate Swaps - Simplified Hedge Accounting Approach.
Also in this issue:
- Materiality? It's what matters
- Don't wait too late to see the red flags of fraud
A & A Advisor |