GAAP – The Year in Review

General Business

January 09, 2017
by Donna Huss, CPA, Sheila Border, CPA

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Donna Huss Donna Huss, CPA
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Sheila Border Sheila Border, CPA
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The Financial Accounting Standards Board (FASB) had another busy year, issuing 18 Accounting Standards Updates (ASU). This article highlights five of the 18 U.S. Generally Accepted Accounting Principles (GAAP) standards, as well as a few earlier standards that now have approaching effective dates or that you may want to consider for early adoption.  

Whether you work in the health care, financial institution, manufacturing, nonprofit, or another industry, many of these ASUs could potentially impact your organization and have a direct effect on your annual financial reporting.

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Length: 4 pages (PDF 166 kB)

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