Reading Time: 3 minutes The arrival of COVID-19 created new and unanticipated circumstances for individuals and businesses. The announcement of stay at home orders and forced business closures led to changes that have had a devastating impact on the Texas economy....
Reading Time: 3 minutes Are you a private company and have not issued your 2019 audited financial statements yet? Maybe the business interruption of the COVID-19 pandemic put your resources elsewhere or maybe the decrease in commodity prices had you putting off your...
Reading Time: 6 minutes Background The current FASB accounting standards codification associated with Business Combinations (Topic 805) defines a business as, “an integrated set of activities and assets that is capable of being conducted and managed for the...
Reading Time: 4 minutes What do the new lease accounting rules mean to your company? The new rules will affect your organization if you lease anything from copiers to office space. The new rules provide guidelines on lease accounting that represents the most...
Reading Time: 3 minutes Lower of Cost or Market is the approach to valuing inventory. Recent events, particularly in the energy industry are causing economic uncertainty. This economic uncertainty is affecting the entire supply chain in the energy industry. Many...
