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18 юли 2026 г.9 минути четене

FASB Settles How to Account for Factored Receivables Billed Before the Work Is Done: ASU 2025-12 Issue 20 and ASC 860

FASB's ASU 2025-12 (Issue 20) clarifies that receivables recognized before performance is complete — annual SaaS billed upfront, retainers, construction progress billings — fall under ASC 860's transfer rules when sold or factored, not ASC 470 debt guidance by default. The fix takes effect for annual periods beginning after December 15, 2026, with issue-by-issue early adoption, and sale treatment still requires passing the true-sale test.

Mike Thrift

accountingfinancial-reportingrevenue-recognition

17 юли 2026 г.7 минути четене

FASB ASU 2025-12: The APIC-Only Method for Retiring Shares in a Co-Founder Buyout

FASB's ASU 2025-12 (Issue 10) codifies a third method for retiring repurchased shares — charging the full excess over par value to additional paid-in capital, as long as APIC stays non-negative. Here is how the APIC-only, retained-earnings-only, and allocation methods change the balance-sheet impact of a co-founder buyout, and why the choice matters for loan covenants and dividend capacity before the December 15, 2026 effective date.

Mike Thrift

accountingequityfinancial-reporting

17 юли 2026 г.7 минути четене

FASB ASU 2026-01: How Startups Must Now Measure PIK Dividends on Preferred Stock

FASB's ASU 2026-01 requires PIK dividends on equity-classified preferred stock to be measured at the stated contractual rate — not fair value — effective for annual periods beginning after December 15, 2026, with early adoption permitted. Here's what venture-backed startups with PIK preferred provisions should do before their next audit.

Mike Thrift

accountingstartupequity-instruments

17 юли 2026 г.8 минути четене

Ski Resort Bookkeeping: How to Account for Season Pass Deferred Revenue

Season pass cash collected in September is a liability, not income. This guide covers ASC 606 deferred revenue for ski resorts: the debit-cash-credit-deferred-revenue entry, straight-line vs. usage-based recognition, weather-driven refund reserves, and the four bookkeeping mistakes small ski operations make most.

Mike Thrift

bookkeepingaccountingaccrual-accounting

16 юли 2026 г.7 минути четене

FASB's New Environmental Credits Standard (ASU 2026-02): What Topic 818 Means for Carbon Credits, RECs, and RINs

FASB's ASU 2026-02 creates Topic 818, the first GAAP framework for environmental credits, splitting carbon offsets, RECs, and RINs into compliance, noncompliance, and voluntary categories with different measurement rules, effective for public companies in fiscal 2028 and private companies in fiscal 2029.

Mike Thrift

accountingtax-compliancesustainability

15 юли 2026 г.8 минути четене

Florida's CPA Licensure Bill Died Again: What the Failure of SB 364 and HB 333 Means for CPAs and Small Businesses

Florida's SB 364 passed the Senate 35-0 but died without a House hearing on March 13, 2026 — the second straight year the CPA licensure-modernization bill failed. Florida still requires 150 semester hours, out-of-state CPAs still rely on substantial-equivalency mobility, and FICPA plans to refile in 2027.

Mike Thrift

cpalicensescompliance

15 юли 2026 г.9 минути четене

Independent Film Production Accounting: Above-the-Line, Below-the-Line, and the Cost Report That Keeps You on Budget

How independent film budgets actually work — above-the-line costs run 30–35% of budget, contingency should be ~10%, and 39 states plus D.C. and Puerto Rico return 15–45% of qualified spend through film incentives. A practical guide to cost reports, loan-out companies, and building a chart of accounts that survives an audit.

Mike Thrift

creative-industriesaccountingbudgeting

14 юли 2026 г.9 минути четене

FASB ASU 2025-06: How the New Internal-Use Software Capitalization Rule Fits Agile Development

FASB's ASU 2025-06 replaces the three-stage ASC 350-40 test with a single "probable-to-complete" threshold for internal-use software, a change expected to decrease capitalization for SaaS companies once it takes effect for annual periods beginning after December 15, 2027.

Mike Thrift

software-capitalizationsaasfinancial-reporting

14 юли 2026 г.10 минути четене

Nonprofit Merger Accounting: What ASC 958-805 Requires Before You Sign

Under ASC 958-805, a combination of two nonprofits must be classified as either a merger, which uses the carryover method with no fair-value remeasurement or goodwill, or an acquisition, which requires fair-value remeasurement and an immediate expense instead of capitalized goodwill for any excess consideration.

Mike Thrift

nonprofitmergers-and-acquisitionsbusiness-acquisition

13 юли 2026 г.8 минути четене

Buying Machinery at Auction: Cost Basis, Use Tax, and 100% Bonus Depreciation

A $150,000 CNC lathe bought at auction and fully expensed under 100% bonus depreciation can generate roughly $37,500 in first-year tax savings at a 25% effective tax rate, but only if the buyer's premium, sales/use tax, and rigging costs are correctly capitalized into cost basis first.

Mike Thrift

taxtax-deductionstax-planning

13 юли 2026 г.8 минути четене

Commercial Property Management Accounting: Trust Accounting and CAM Reconciliation Explained

Commingling trust and operating funds is illegal in all 50 states with fines from $1,000 to $25,000 per violation, and CAM reconciliation errors can trigger tenant audits years later — here's how three-way reconciliation and a property-specific chart of accounts keep commercial books compliant.

Mike Thrift

property-managementreal-estatetrust

13 юли 2026 г.9 минути четене

Extended Warranty and Service Contract Accounting Under ASC 606

Under ASC 606, a service-type extended warranty is a separate performance obligation — the price must be allocated at standalone selling price and recognized as deferred revenue, amortized ratably over the coverage term, not booked as revenue upfront.

Mike Thrift

accountingaccrual-accountingfinancial-reporting

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