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..

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..

The coronavirus (COVID-19) pandemic has quickly swept the globe, overwhelming healthcare systems, disrupting financial markets, stressing businesses and shocking humanity. Economists are..

Overview

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..

While the new revenue standard is “old news” for the majority of public companies, spring of 2020 will be the first time most private companies close their 2019 books and report under ASC 606...

For most entities, there is significant complexity involved in the preparation of carve-out financial statements. Because transactions requiring these statements occur infrequently, they often..

Recently, we presented at the AICPA National Banking and Financial Institutions Conference on leveraging automation and analytics to enable financial strategy. Three key takeaways stood out: