Updated Guidance for Impairment Testing: When to Consider Triggering Events

On March 30, the Financial Accounting Standards Board (FASB) published an updated accounting standard on events that trigger an impairment test under U.S. Generally Accepted Accounting Principles (GAAP). This simplified alternative may provide relief to private companies and not-for-profit entities that have been adversely affected by the COVID-19 pandemic. Here’s what you should know.

Making Sense of Your Statement of Cash Flows

The statement of cash flows essentially tells you about cash entering and leaving a business. It’s arguably the most misunderstood and underappreciated part of a company’s annual report. After all, a business that reports positive net income on its income statements sometimes doesn’t have enough cash in the bank to pay its bills. Reviewing the statement of cash flows can provide significant insight into a company’s financial health and long-term viability.

13 Considerations to Reduce Construction Project Risk During These Challenging Economic Times

When COVID-19 slammed the breaks on the U.S. economy and imposed government mandated restrictions on business activity, construction activity coast to coast suddenly slowed and, in some cases, stopped. The vast ecosystem of stakeholders—from contractors, suppliers and workers to the investors that fund the projects—was disrupted, causing a ripple effect that blanketed the country. With…