Financial statement preparers and auditors have new accounting and auditing questions following recently issued FASB standards that address revenue recognition, lease accounting and the private company variable-interest entity consolidation.
Experts from the Center for Plain English Accounting answered some common questions about Accounting Standards Update topics 810, 606 and 848 at the AICPA’s ENGAGE 2020 virtual conference on Tuesday, July 21. See the Q&A here.