Entries by Matthew Creamer

SECURE Act 2.0: Changes Implemented for Employee Benefit Plans

The Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 introduced significant reforms aimed at improving retirement savings opportunities for employees. The legislation enhances accessibility, encourages greater participation, and provides additional benefits for both employees and employers. Key changes include increased catch-up contributions, a higher age requirement for required minimum distributions (RMDs), expanded eligibility […]

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Lease Reporting Requirements: International Financial Reporting Standards (IFRS) vs Generally Accepted Accounting Principles (GAAP)

Both the International Financial Reporting Standard (IFRS) update, effective from January 1, 2024, and the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification (ASC) Topic 842 aim to enhance lease accounting practices. In this post, we’ll explore the critical provisions of the IFRS update and compare them with ASC 842 to understand the similarities and […]

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Financial Accounting Standards Board Issues Final Accounting Standards Update regarding Segment Reporting

On November 27, 2023, the Financial Accounting Stands Board (FASB) issued a final Accounting Standards Update (ASU) related to disclosures about a public entity’s reportable segments. This standards update is ASU No.2023-07, titled Improvements to Reportable Segment Disclosures. The ASU aims to enhance the disclosures public entities provide regarding significant segment expenses so that investors […]

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