New Accounting Standards Update: Simplifying the Transition to the Equity Method

General Business

July 05, 2016
by Jim Hyland, CPA, Donna Huss, CPA

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Jim Hyland Jim Hyland, CPA
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Donna Huss Donna Huss, CPA
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The Financial Accounting Standards Board (FASB) continued its efforts to simplify accounting requirements while maintaining or improving information for financial statement users. To this end, it recently issued ASU 2016-07, Investments – Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting. Before diving into the substance of this new ASU, it’s important to identify the transactions and arrangements impacted by equity method treatment, namely, corporate joint ventures. 


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