Starting for audits of financial statements in 2019, restricted cash and restricted cash equivalents such as tenant security deposits and self-restricted reserves will be presented differently. While minor, the result will change the beginning and ending cash and cash equivalents balances that previously were reconciled in the statement of cash flows. Read more about ASU 2016-18 here.
AROUND THE COMMUNITY
InsightAffordable Housing: Accounting standards update on restricted cashBeginning with audits of financial statements for calendar year 2019, the statement of cash flows will be presented differently in your annual financial statements. This results from implementation of Accounting Standards Update (ASU) 2016-18, which modifies the treatment of restricted cash and restricted cash equivalents.
InsightAffordable Housing News & Views - September 2019Beth MullenThe latest industry insights, news, and events
InsightCapitol Connection: Recognition of the housing crisisBob MossAs we watch the 2020 Presidential Election race unfold, the United States is facing dramatically rising rents and home prices, and the overall issue of affordable housing has risen from obscurity on Capitol Hill into the spotlight.
InsightCapitol Connection: The budget deal paves the way to tax legislationBob MossWHAT HAPPENED? Last week, the White House and Congress reached a budget deal that doesn't appear to include any tax measures, raising questions for us about what the next vehicle might be for matters like extenders and technical corrections to the Tax Cuts and Jobs Act of 2017. That outcome leaves a range of advocates, including supporters of both the Affordable Housing Credit Improvement Act (AHCIA) and the New Markets Tax Credit (NMTC), looking for ways to get their priorities into law.
InsightAffordable Housing News & Views - July 2019Beth MullenExplore news from across the country on current affordable housing and tax credit issues and opportunities. Hear from top industry associations and our own team about ways to move your affordable housing business forward.