An article last fall in the New York Times demonstrated what billions can and can’t do to bring about more affordable housing in a large metropolitan area. It can’t, for example, convince community groups to allow development in their neighborhoods or local government leaders to support it. Money alone also can’t ensure that a deal
As a result of COVID-19 and the disruption it is causing, FASB has issued an Accounting Standards Update (ASU) 2020-05, Revenue from Contracts with Customers (ASC 606) and Leases (ASC 842) Effective Dates for Certain Entities regarding deferral of effective dates for Revenue from Contracts with Customers and Leases. Â Revenue from Contracts with Customers
One of the challenges many not-for-profit organizations face is determining whether or not revenue falls under the category of a contribution or exchange transaction. In some cases, it’s a pretty straight forward determination, but the waters can occasionally become a bit murky. In June 2018, the Financial Accounting Standards Board (the FASB) issued the Accounting
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