Author Archives for Klint Lewis Klint Lewis

Expected Credit Losses on Financial Statements

The information below concerns Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Statements.   Points to Know About the ASU Regarding Credit Losses The new standard changes the impairment model for nearly all financial assets and will impact almost all entities. The new “expected… View Article

 

Door-to-Door Sales & Capitalized Creation Costs

If your business involves door-to-door summer sales, an arcane accounting method known as capitalized creation costs could provide a great opportunity. Capitalized Creation Costs Capitalized creation costs are the incremental direct costs a business incurs to obtain a customer contract that it intends to hold and not sell.  The intent to hold the contract obtained… View Article