December 2015

Reminders on Changes to Accounting for Business Combinations

During 2015, the Financial Accounting Standards Board (FASB) released two Accounting Standards Updates (ASU) that impact the way companies account for business combinations. In September, the FASB issued an ASU which revises the way companies account and report for adjustments

December 2015

AICPA Conference on Current SEC and PCAOB Developments

CFGI attended the annual Conference on Current SEC and PCAOB Developments hosted by the AICPA in Washington, DC on December 9-11th. The conference is an opportunity to hear directly from the profession’s regulators on the most prominent topics impacting companies today.

November 2015

IPOs and the “Cheap Stock” Issue

Despite the recent market volatility, the 2015 equity market continues to support initial public offerings (“IPOs”). Through September 30, 2015, 161 IPOs were completed, which is down compared to 228 IPOs in 2014; however, multiple industry journals are indicating the fourth

July 2015

Interpretation of ASU 2015-02 – Consolidation

In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) – Amendments to the Consolidation Analysis. This ASU affects all companies and is effective for calendar year public companies beginning in 2016 and for nonpublic companies in 2017, with

June 2015

Interpretation of ASU 2014-16 – Derivatives and Hedging

New guidance brings consistency to accounting for hybrid financial instruments and embedded derivatives; entities to reassess all outstanding hybrid equity instruments upon adoption. In November 2014, the FASB issued ASU 2014-16 Derivatives and Hedging – Determining Whether the Host Contract

April 2015

FASB Proposes One Year Deferral of New Revenue Recognition Standard

April 1, 2015 | The FASB proposed a one year deferral of the effective date for its new revenue recognition standard ASU 2014-09, Revenue from Contracts with Customers or ASC 606 for public and private entities reporting under US GAAP. This

January 2015

SEC Comment Letters – Current Trends – January, 2015

Our analysis of SEC Comment Letters is based on our research of companies with a market capitalization between $100 million and $1 billion that extends back to January 1, 2013. Our research indicates the trends in SEC Comment Letters continue

January 2015

Trends in Material Weakness: January, 2015

Our analysis of the trends in material weaknesses is based on our cumulative research of public companies with a market capitalization between $100 million and $1 billion dollars and extends back to January 1, 2013. In addition to the cumulative

January 2015

Perspectives: Private Company Goodwill Accounting (Accounting Standards Update No. 2014-02)

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. Accounting Standards Update No. 2014-02, Intangibles

January 2015

Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern

In 2014, the FASB issued several new standards that will impact companies in future periods. In addition to the revenue recognition standard, CFGI analyzed two standards of significance that may impact our clients: GOING CONCERN: MANAGEMENT’S RESPONSIBILITY Beginning in 2017,