Lessee discount rates under ASC 842
Key considerations for public and private entity lessees when determining the discount rates for leases.
FASB amends risk-free discount rate expedient
Private entity practical expedient electable by class of underlying asset; interplay with implicit rate clarified.
Applying the lessee short-term lease exemption
Key considerations for lessees when determining whether to elect – and how to apply – the short-term lease exemption.
Goodwill private company alternative
FASB finalizes private company alternative for timing of goodwill triggering event assessment.
NFP higher education institutions’ CARES Act accounting
Implications of the CARES Act on the accounting of not-for-profit higher education institutions.
FASB extends private company alternatives to not-for-profits
FASB proposals would change the accounting for goodwill and intangible assets for not-for-profits.
FASB clarifies how not-for-profits account for grants
KPMG reports on the FASB’s ASU that clarifies how not-for-profits and others account for grants and similar transactions
Changes to presentation of not-for-profit financials
KPMG reports on changes to NFP disclosures in ASC 958. The FASB’s new ASU on NFP disclosures simplifies net asset classes but requires additional information on expenses and liquidity
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