The CPA Journal

Questions About the Classification of Joint Ventures for Accounting Purposes

IN BRIEF FASB's recent guidance on accounting joint ventures, ASU 2023-5, is intended to resolve diversity in practice and ...
JD Supra

IRS releases Notice 2018-26 - retroactively disregarding certain accounting method changes and entity classification elections

The Treasury Department and the Internal Revenue Service (IRS) issued Notice 2018-26, which provides guidance under section 965 of the Internal Revenue Code regarding the “transition tax.” Section 965 ...
Drexel University

Frequently Asked Questions - Grant Fund Classification

How does Accounting Standards Update 2018-08-Not-For-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made impact Principal ...
Drexel University

Determining Fund Classification

We hope that this will help you to better understand the fund number your award has been assigned, or was assigned prior to the implementation of the new guidance in FY2019. The image to the left ...