Tag Archive | private companies
The Private Company Council (PCC) recently met to discuss how accounting guidance and items on the Financial Accounting Standards Board’s technical agenda would affect private companies. Topics covered in the meeting included the definition of a public business entity, private company accounting alternative effective dates, uncertain tax positions, financial instrument classification and the presentation of […]
Could Your Company or Organization be Affected by the FASB’s Proposed Changes to the Reporting of Discontinued Operations?
The FASB’s proposed changes to the reporting of discontinued operations would apply to all public and private companies and not-for-profit organizations. The main changes include a narrowing of the definition of a discontinued operation, an expansion of the scope to include equity method investments, and the addition of incremental disclosure requirements. The changes would affect […]
Learn More During MHM’s Free Webinar on July 16 Last fall, the Private Company Council (PCC) was established by the Financial Accounting Foundation to explore a more relevant and less complex accounting framework for private companies. The Council has also discussed a number of areas of accounting that may involve unnecessary costs and complexities for […]
The FASB recently finalized an Accounting Standards Update on Liquidation Basis of Accounting, known as ASU 2013-07. This update is designed to help companies and other entities understand how to prepare financial statements when they expect to cease all of their activities and liquidate their assets. The purpose of financial statements prepared on this basis […]
The AICPA has proposed the use of a principles-based framework as a practical compromise between GAAP and the unmet needs of some financial statement users. At Mayer Hoffman McCann P.C. we’ve been following this topic closely. For your convenience, we’ve compiled the list below which highlights a number of areas in which the OCBOA framework […]