At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the McGladrey Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest financial reporting insights. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.
Initial election of private company accounting alternatives
ASU 2016-03 addresses matters related to the initial election of the private company accounting alternatives within its scope.
Recognition of breakage for certain prepaid stored-value products
ASU 2016-04 addresses the recognition of the portion of the dollar value of prepaid stored-value products that ultimately is unredeemed.
Source: RSM US LLP
Used with permission as a member of the McGladrey Alliance
As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.