COVID-19 caused many changes in our personal and business lives, giving us time to rethink our priorities and expectations. Estate planning is one area that has received a lot of attention. Do you have an estate plan in place?
ASC 606 became effective for public companies in 2018 and privately-held companies in 2019. Previously, the reporting standard varied according to industry. Now, under ASC 606, the standard is industry neutral, making it more transparent.