REAC Won’t Accept ASU 2016-18 Stand on Restricted Cash

Tuesday, October 22, 2019 - 10:45am

The U.S. Department of Housing and Urban Development (HUD) today announced that the Real Estate Assessment Center will not adopt the Accounting Standards Update 2016-18 on restricted cash in its financial templates. The decision creates a difference in how financial statements are presented under generally accepted accounting principles and in HUD-based financial statements.