All nonfinancial assets articles
FASB is offering yet another accounting proposal meant to help smooth over implementation of the new revenue recognition standard. The change would apply to an area of the Accounting Standards Codification that was amended to comply with the new revenue standard in order to aid compliance with the rules around ...
In its quest to clarify how to define “business” for the sake of accounting rules, FASB is wading into how to account for partial sales of nonfinancial assets. FASB has tentatively decided that all transactions where an entity retains an equity interest in an asset or receives an equity interest ...
Image: Companies are starting to awaken to yet another wrinkle in the new revenue recognition standard: how it will affect the sale of non-financial assets, such as when you sell off an old property or intangible asset. “If you’re not in the real estate business, you don’t think of the ...