Remove 2021 Remove accounting principles Remove audit Remove financial statements
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The Auditor’s Opinion

Withum

Audited financial statements are a cornerstone of the financial markets. Tonight I will conduct my second Auditing class session of this semester at Fairleigh Dickinson University, and I will be teaching what the auditor’s opinion means and what auditors do to arrive at their opinion.

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Accountants Didn’t Wind Up In Court As Often In 2021

Going Concern

While there were plenty of accountants who behaved badly in 2021 , the accounting profession as a whole was fairly well-behaved and competent last year, according to a new report from Cornerstone Research. Accounting allegations involving those pesky special-purpose acquisition companies (SPACs). Good job, everyone.

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Form 5500 Filing Updates for Plan Administrators and Employers

Withum

The time for filing your organization’s 2021 IRS Form 5500 has arrived. Overview of SAS136 – A New Auditing Standard. Effective January 1, 2022, SAS 136 became the new audit standard for employee benefit plan audits for plan years ending after December 15, 2021. 2021-30 Impacts on Plan Sponsors.

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Accounting-Related Class Actions Up Nearly 10% in 2023

CPA Practice

Data courtesy of Cornerstone Research “Accounting cases” is defined by Cornerstone Research as cases “involving allegations related to Generally Accepted Accounting Principles (GAAP) violations, violations of other reporting standards, auditing violations, or weaknesses in internal controls over financial reporting.”

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AICPA News – Sept 2023

CPA Practice

AICPA News is a roundup of recent announcements from the American Institute of Certified Public Accountants. The practice aid, Accounting for and Auditing of Digital Assets , is intended to provide nonauthoritative guidance on how to account for and audit digital assets under U.S.

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Fair Value Determination – Valuation Reminders

Withum

and the realization of a decrease from peak value in 2021 of 73%. [3] 4] PE and VC Fund management and the board of directors reporting their financial statements under Generally Accepted Accounting Principles (GAAP) may face unique issues in reporting the fair value of their investments in the context of these dynamics.

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Research and Experimental Expenditure (Section 174) Tax Treatment Changes Startups Need to Know

Shay CPA

Beginning after 12/31/2021, research and experimental expenditures need to be capitalized instead of expensed as previously allowed. generally accepted accounting principles (GAAP), software development costs are typically expensed as incurred instead of capitalized. That’s where we come in.

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