Jason Schultz, Author at Donovan CPAs

Accounting for Lease Concessions Due to COVID-19

August 24, 2020

The COVID-19 pandemic has created significant economic hardships for individuals and businesses. As a result, some have received concessions related to the payment of lease obligations. The Financial Accounting Standards Board (FASB) has issued a Q&A document to provide guidance regarding the accounting for these scenarios. Because the effective date

New Not-for-Profit Disclosure Requirements Provide a Clearer Picture

October 28, 2019

The new disclosure requirements set by ASU 2016-14 require not-for-profits to do extra work in preparing their financial statements. These disclosures provide the benefit of providing a more transparent perspective of how an organization’s financial picture really looks. ASU 2016-14 requires the following changes to financial statement presentation and disclosures:

Author: Jason Schultz

Accounting for Lease Concessions Due to COVID-19

New Not-for-Profit Disclosure Requirements Provide a Clearer Picture

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