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FASB Issues Two Updates for Private Companies

posted Feb 18, 2014, 6:21 AM by Chattahoochee Valley Chapter

FASB Issues Two Updates For Private Companies On Accounting For Goodwill, Interest Rate Swaps
The Financial Accounting Standards Board (FASB) today issued two updates to United States generally accepted accounting principles (GAAP) that provide alternatives for private companies on the subsequent accounting for goodwill and for interest rate swaps—specifically a simplified hedge accounting approach for certain types of swaps. Both updates are consensuses of the Private Company Council (PCC) that were endorsed by the FASB... read more