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FASB Issues Update for Private Companies on Consolidation of Variable Interest Entities


Effective March 20, 2014, the FASB issued an accounting standards update which allows private companies to elect not to use VIE guidance when considering entities under common control and for which a leasing arrangement exists.  This standard is great news for privately held companies, and addresses a long-running problem in applying “Big GAAP” to small and medium sized enterprises.  Better yet, early adoption is permitted, so any financial statement not yet available for issuance can apply this standards update.

http://www.fasb.org/cs/ContentServer?c=FASBContent_C&pagename=FASB%2FFASBContent_C%2FNewsPage&cid=1176163912100


     

New Name, Same People and Service You’ve Known for Years.

Berntson Porter is excited to announce that we are now part of CBIZ & MHM (Mayer Hoffman McCann P.C.). Together, CBIZ & MHM are one of the nation’s Top Ten accounting providers, and Berntson Porter is honored to be joining them. We are pleased to be able to offer the same people and the same service you’ve known for years under a new name: CBIZ Berntson Porter. Please click here for more information.