At Rubino & Company, we are happy to share our business, accounting, and tax knowledge and insight with you. Below are resources in which we analyze and explain current issues, identify solutions, and define best practices to help you become and remain productive and profitable.
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The Financial Accounting Standards Board (FASB) has issue Accounting Standard Update (ASU) 2016-14. This ASU is intended to update, not overhaul, the current financial statement model to improve information presented in the financial statements and notes about financial performance, cash flows and liquidity.
Various stakeholders have notified the Financial Accounting Standards Board (FASB) that there is diversity in practice in how certain cash receipts and payments are presented and classified in the statement of cash flows. The FASB has issued Accounting Standard Update (ASU) 2016-15 to address eight specific cash flow issues to reduce the existing diversity in practice.