Need to send a package? No problem, head over to your local post office and—wait. What happened to it? If you live in an area with more than one post office in a 2-mile radius, beware– your post office could get the boot.  About 3,700 post offices around the country are predicted to shut down..

In the last installment of our 5 part new FASB series, I’ll outline the new procedures for balance sheet offsetting, revenue recognition, comprehensive income and multiemployer pension plans. Once again, I want to congratulate you on making it through the arduous task of reading about these changes—and don’t worry, if your eyes glazed over or..

Part Four starts off with a little summary on the impairment changes, goes through the lessor accounting model and ends with a brief outline on insurance contracts. During their discussions, FASB and IASB came up with a “three bucket” expected loss approach for impairment of financial assets. They are as follows: Bucket 1 holds assets..

You’ve made it this far, so I’m not going to bore you with any more quips about FASB or their new regulations—it’s already boring enough. Onto business, then. Lessees will use the incremental borrowing rates at the lease commencement to calculate the amount capitalized. Leases with interim funding will have deferred and amortized earnings on..

So you made it through Part One and were curious enough to move on to Part Two? I commend your bravery. In this article, I’ll continue outlining the expected changes FASB is working on implementing. This will include modifications in: lessee profit and loss pattern, purchase options, variable payments, residual guarantees, short term leases, and..