Debt Covenant Violations: How to Report
How does a debt covenant violation affect the presentation of debt on a balance sheet? If a waiver from…
Required Financial Statement References
What financial statement references are required at the bottom of financial statement pages? Is there a difference in the…
Understanding the New Nonprofit Accounting Standard
Are you ready to implement FASB’s new nonprofit accounting standard? Back in August 2016, FASB issued ASU 2016-14, Presentation…
ASU 2018-17: A VIEry Good Gift from FASB
It’s time for another change to VIE accounting! The variable interest entity (VIE) considerations just got much easier. FASB is—with ASU…
Going Concern Accounting and Auditing
Are you preparing financial statements and wondering whether you need to include going concern disclosures? Or maybe you’re the…
Simplifying the Measurement of Inventory
Are you up to speed on ASU 2015-11 Simplifying the Measurement of Inventory? This post assists in understanding the…
Do Loan Guarantees Create Liabilities?
Can a loan guarantees create liabilities that go on the balance sheet of the guarantor? Yes. Recording Loan Guarantees…
Debt Issuance Costs: New Parking Place
Debt issuance costs have a new parking place. For some time now, such costs were booked as a deferred…
How to Solve Accounting Problems Quickly
Do you ever need to solve accounting problems quickly? I often hear the words, “Hey Charles, I’ve got a…