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Accounting Standards

COVID-19 and Common GAAP Financial Reporting Considerations

By / Healthy Growth Blog /

Tuesday, June 9, 2020 By Mark Batey, CPA   As the U.S. economy begins to reopen from the lockdown caused by the COVID-19 pandemic, management and business owners are currently faced with a lengthy to-do list ranging from issues such as supply chain management to new health and safety measures. The monitoring of the company’s financial …

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The Clock is Ticking on Revenue Recognition – 3 Things to Do Now

By / Healthy Growth Blog /

By Sheila M. Beck, CPA, MBA; Mark Batey, CPA; Brandon Fredericks, CPA In 2014, the Financial Accounting Standards Board (FASB) rolled out one of the most sweeping and impactful accounting pronouncements in decades with the new revenue recognition standard (i.e., ASC 606).  The effective date for most (calendar year) privately-held companies is rapidly approaching – …

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