BLS Insights

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Month: June 2019

Will the SECURE Act Secure Your Retirement Plan?

June 26, 2019

On May 23, 2019, the House passed a bipartisan bill by a vote of 417-3 to enhance the opportunities for individuals to save more for retirement. The bill is now before the Senate, which, with some modifications, should find its way to the president for signature before the end of the year. This blog focuses … Continued

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How Does ASU 2016-13: Financial Instruments – Credit Losses (Topic 326) Impact Nonprofits?

June 25, 2019

Accounting Standard Update (ASU) 2016-13: Financial Instruments – Credit Losses (Topic 326) – An Overview for Not-for-Profit Organizations Accounting Standard Update (ASU) 2016-13: Financial Instruments – Credit Losses (Topic 326) was issued in June 2016 and becomes effective for nonprofit entities for fiscal years beginning after December 15, 2020, and interim periods within fiscal years … Continued

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ASU 2016-14 – Presentation of Operating Cash Flows

June 11, 2019

In August 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-14 (ASU 2016-14) to make improvements to the communication of information on not-for-profit financial statements. ASU 2016-14 is effective for not-for-profit organizations with annual reporting periods beginning after December 15, 2017 (calendar year 2018 or fiscal year 2019). ASU 2016-14 focuses on … Continued

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