Audit & Accounting Update: June 9, 2016

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.

Leases: New accounting requirements for lessees
Our white paper explains and illustrates the new lease guidance applicable to lessees in Accounting Standards Update 2016-02, Leases (Topic 842).

FASB proposes more changes to new revenue and cost deferral guidance
A recent proposal would make certain changes to the FASB’s new revenue recognition and cost deferral guidance.

Source: RSM US LLP
Used with permission as a member of the McGladrey Alliance
http://rsmus.com/our-insights/newsletters/financial-reporting-insights.html

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.

Rochester-based Insero & Co. CPAs is one of the largest accounting and business advisory practices in New York State, with five locations and more than 125 employees. A full-service public accounting firm, Insero provides attest, tax, and consulting services to corporations, individuals, government agencies, colleges and universities, not-for-profit organizations and businesses ranging from privately held family businesses to multi-national corporations. These clients represent many industries, including service, manufacturing, distribution, high-tech, telecommunications, education, social services, and real estate. For more information, visit www.inserocpa.com.

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