Accrued Expenses in Accounting: Definition, Examples, Pros & Cons

Learn about accrued expenses, their role in accrual accounting, and how they affect financial statements with examples, ...
JD Supra

CMS to Begin Enforcing “Longstanding” Accounting Classification Rule for Crossover Bad Debts

Last week, CMS announced on its website that for cost reporting periods beginning on or after October 1, 2019, providers must comply with a so-called “longstanding” rule to claim reimbursement for ...
Drexel University

Frequently Asked Questions - Grant Fund Classification

How does Accounting Standards Update 2018-08-Not-For-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made impact Principal ...
Compliance Week

FASB Proposes Eight New Cash Flow Classification Rules

Current accounting rules are either unclear or silent on how to classify cash flows in certain instances, so the Financial Accounting Standards Board is proposing an update to the Accounting Standards ...
Drexel University

Determining Fund Classification

We hope that this will help you to better understand the fund number your award has been assigned, or was assigned prior to the implementation of the new guidance in FY2019. The image to the left ...
Compliance Week

FASB adopts eight new cash flow classification rules

The ugly stepchild of financial statements, and one of the more common causes of restatement, will be getting a bit of a makeover in the coming year as companies adopt new rules around how to classify ...