Accounting update for private companies

 This update provides a summary of some of the more important first quarter 2019 accounting and financial reporting activities for private companies. The content is not meant to be all-inclusive.

Topics include:

• Accounting Guidance Issued in first quarter 2019    
  • Updating the definition of collections
  • Leases - Codification improvements
• New Revenue Recognition Rules – Private company considerations
• Standards Issued in 2019
• Standards Issued in Prior Years Effective 2019 or After