During its May 20, 2020 meeting, the Financial Accounting Standards Board (FASB) discussed proposed limited deferral of the effective dates of certain new accounting standards in light of the..
One of the consequences of the COVID-19 pandemic outbreak is a considerable change in consumer habits. As a result, companies may experience a sizable decrease or increase in demand. Managing the..
When an organization enters into a line of credit or business loan, it is common for the debt agreement to include financial covenants. These covenants typically prescribe conditions that must be..
In times of economic uncertainty (such as the one created by COVID-19), one of your organization’s most important considerations is undoubtedly cash and, by extension, accounts receivable. If cash..
One of the challenges facing organizations during this pandemic is the completion of standard close procedures and audit preparation with a fragmented team. In general, it is not uncommon for..
How is it possible to estimate expected credit losses over the contractual life of financial assets in an environment that drastically changes day-by-day? In the three months since CECL became..
In these uncertain times, forward-looking organizations are looking to not only weather the economic storm, but also prepare to emerge stronger.
On April 10, 2020, the Financial Accounting Standards Board (FASB) released a Staff Q&A to provide guidance surrounding the accounting for lease concessions granted by landlords as a result of the..
In its April 8, 2020 meeting, the FASB revealed its plans to help relieve some concerns of companies contending with the effects of the global COVID-19 pandemic. Among other actions, the FASB..
The coronavirus (COVID-19) pandemic has quickly swept the globe, overwhelming healthcare systems, disrupting financial markets, stressing businesses and shocking humanity. Economists are..
With the unprecedented measures taken by a majority of the countries around the world in response to the coronavirus (COVID-19), global economic downturn is likely imminent. This..
Note: “Q&A with … “ is a recurring series with CrossCountry Consulting leadership.
As banks and other financial institutions are crossing the finish line to comply with the CECL accounting standard, many companies are finding it difficult to interpret their results. Even for..
As the impact of CECL begins to emerge, financial services firms have dominated headlines. Companies outside of this realm have taken varied approaches, and many have concluded that CECL will not..