Fiduciary Rule Evaluation – No Action Taken Yet

In February 2017, President Donald Trump ordered the United States Secretary of Labor to perform an analysis of the U.S. Department of Labor’s (DOL) proposed investment fiduciary rule for retirement plan advice.  The DOL first proposed the rule in September 2010 and re-proposed the rule in April 2015, finally making

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Big Changes to Lease Accounting Coming Soon

The Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update (ASU) 2016-02 Leases, intended to improve financial reporting about leasing transactions. The ASU will affect all companies and other organizations that lease assets such as real estate, airplanes, and equipment. If you need more help than this article provides,

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FASB Updates Going Concern

The Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update (ASU) for presentation of financial statements – going concern which is ASU 2014-15.  Under generally accepted accounting principles (GAAP) continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless

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New Revenue Recognition Standard

On May 28, 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued their final standard on revenue from contracts with customers.  FASB released this standard as Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers.  The ASU creates FASB Accounting Standards Codification

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