Beginning in 2015, private companies will need to make an accounting election to either begin amortizing goodwill or disclose the election to continue the historical process of assessing goodwill through an annual impairment test.
In 2014, the FASB issued several new standards that will impact companies in future periods.
NEW GUIDANCE ISSUED In May 2014, the FASB and the IASB issued a new revenue recognition standard, ASU 2014-09, Revenue from Contracts with Customers or ASC 606, to provide a single comprehensive accounting model for all revenue arising from customer contracts.
Boston, MA, December, 2014 | CFGI is pleased to announce the newest member of its leadership team, Shannon Ewer.
Boston, MA, September 15, 2014 | CFGI, a specialized financial consulting firm, announced today that it has closed an equity investment and partnered with Flexpoint Ford, LLC, a private equity firm focused on the financial services and healthcare sectors.
Over the past two years, we have analyzed Management’s Annual Report on Internal Control Over financial Reporting and the Report of the Independent Registered Public Accounting Firm for instances where a material weakness in a company’s internal controls over financial reporting is identified.