FASB Publishes Year Delay on Revenue, Lease Accounting Standards

The FASB on June 3, 2020, published a new accounting standard that grants a one-year delay on leases and revenue recognition accounting rules for a subset of companies, many of which lack resources and are pressed by work constraints brought on by the coronavirus crisis. The board issued Accounting Standards Update (ASU) No. 2020-05, Revenue … Continue reading FASB Publishes Year Delay on Revenue, Lease Accounting Standards