The CPA Desk

A Thought Leader Production by PKFTexas

Tag Archives: FASB

Accounting Update on Employee Benefit Plans

Shelly Hayes
By Shelly Hayes on Posted in Tax and Accounting Desk

In February 2017, the Financial Accounting Standards Board issued Accounting Standards Update No. 2017-06. The new standard clarifies the presentation requirement for master trust and requires more detailed disclosures of the Plan’s interest in the master trust. The update is effective for fiscal years beginning after December 15, 2016. Early adoption is permitted and is… Continue Reading

FASB Clarifies the Definition of a Business

Chip Schweiger
By Chip Schweiger on Posted in Tax and Accounting Desk

The Financial Accounting Standards Board (“FASB”) recently issued Accounting Standards Update (“ASU 2017-1”) that clarifies the definition of a business under Accounting Standards Codification Topic 805, Business Combinations, and affects all companies and other reporting organizations that must determine whether they have acquired or sold a business. The definition of a business affects many areas… Continue Reading

Valuing Intangible Assets

Del Walker
By Del Walker on Posted in Tax and Accounting Desk

Companies are placing increasingly high values on intangible assets such as brands and customer data. These are strong points of value for companies that can help them create the right products, but what does it mean for accountants? An article in the Wall Street Journal, Accounting’s 21st Century Challenge – How to Value Intangible Assets, cited that… Continue Reading