Accounting

Learn how employers account for defined benefit pension plans under ASC 715, including the projected benefit obligation, the five components of pension expense, funded status reporting, the corridor approach, and OCI/AOCI treatment.

Complete guide to lease accounting under ASC 842. Covers finance vs operating lease classification, ROU asset and lease liability measurement, lessee and lessor accounting, sale-leaseback transactions, and transition from ASC 840.

Learn how to account for bonds payable from the issuer’s perspective — issuance at par, premium, and discount, the effective interest method, straight-line amortization, bond issuance costs, early extinguishment, and zero-coupon bonds.

Learn how companies estimate and record bad debt expense under GAAP using the allowance method, aging schedules, and CECL. Covers journal entries, factoring receivables, notes receivable, and common mistakes.

Learn how to test assets for impairment under U.S. GAAP. Covers the ASC 360 two-step recoverability test for PP&E, the ASC 350 one-step goodwill impairment test, and indefinite-life intangible impairment with real-world examples and journal entries.

Learn how contingent liabilities are recognized and measured under GAAP. Covers ASC 450 loss contingencies, warranty obligations, litigation contingencies, and the probable vs. reasonably possible framework.

Learn how revenue recognition works under ASC 606. This guide covers the five-step model, variable consideration, performance obligations, principal vs agent, and special scenarios like bill-and-hold and right of return.

How to compute basic and diluted EPS under ASC 260 — weighted average shares, treasury stock method for options, if-converted method for convertible securities, and anti-dilution sequencing.

A complete guide to intangible asset recognition under GAAP, the 6 categories, finite vs indefinite life classification, amortization methods, R&D cost expensing under ASC 730, software development cost capitalization, and goodwill measurement from business combinations.

Learn how deferred tax assets and liabilities arise from temporary differences under ASC 740, including valuation allowances, NOL carryforwards, and effective tax rate reconciliation.