- At the National Association of Insurance Commissioners (NAIC) Summer 2016 National Meeting, the Statutory Accounting Principles (E) Working Group (SAPWG) adopted several nonsubstantive revisions to statutory accounting and exposed various substantive and nonsubstantive revisions, as well as directed staff to draft issues paper related to certain projects.
- The adoption of ASC 842 makes accounting much more complex for traditional operating leases. This inherent complexity makes the transition guidance equally complex.
- Baker Tilly’s revenue recognition specialists explore allocating the transaction price (consideration) in this webinar.
- Increasing regulatory compliance costs, decreasing margins, and intensifying competition from both traditional and emerging providers of financial services have spurred M&A activity.
- FASB issued an accounting standard significantly changing how financial institutions report credit losses: ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326).
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