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Resources and Information for U.S. GAAP

Coping with International deferred taxes for smaller foreign entities

Accounting standards are tough and as your smaller foreign entities grow, they come under more scrutiny from outside auditors.   At some point the processes and estimates that worked in the past no longer produces an acceptable or defensible result. In

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Revenue from contracts with customers: Boards wrap up redeliberations – A look at the recent decisions (PWC)

The FASB and IASB concluded their joint meetings on the revenue project in October and have directed their staffs to draft a final standard. The boards reached a consensus on several key issues that had been the subject of considerable

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10Minutes on lease accounting (PWC publication)

Current rules allow companies to classify leases as capital leases (on-balance sheet) or operating leases (off-balance sheet). The Boards’ new proposal requires lessees to record an asset and liability for most leases similar to today’s capital leases. A dual model

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FASB board completes its delebrations.

The FASB and IASB substantively concluded redeliberations of their joint 2011 exposure draft, Revenue from Contracts with Customers, in February 2013. The boards reached decisions on the remaining key issues including disclosures, transition, and effective date at their most recent

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Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010

The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law on July 21, 2010 by President Barack Obama. The legislation set out to reshape the U.S. regulatory system in a number of areas including but not limited

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Jumpstart Our Business Startups Act of 2012

The Jumpstart Our Business Startups Act (the “JOBS Act”) was enacted on April 5, 2012. The JOBS Act aims to help businesses raise funds in public capital markets by minimizing regulatory requirements. The full text of the Act is available

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Sarbanes-Oxley Act of 2002

On July 30, 2002, President Bush signed into law the Sarbanes-Oxley Act of 2002, which he characterized as “the most far reaching reforms of American business practices since the time of Franklin Delano Roosevelt.” The Act mandated a number of

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Revenue Recognition – Exposure drafts from FASB

Below are the links to the Revenue Recognition exposure drafts from the FASB website. The Comment period deadline is: March 2012 Proposed Accounting Standards Update—Revenue Recognition (Topic 605): Revenue from Contracts with Customers—Proposed Amendments to the FASB Accounting Standards Codification®

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Revenue Recognition

Interesting presentation on Revenue Recognition for establishing good internal controls. Revenue Recognition from dickson consulting

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