CPA Practice

OCTOBER 31, 2024

The Financial Accounting Standards Board (FASB) has published a proposed Accounting Standards Update (ASU) intended to improve the requirements for identifying the accounting acquirer in FASB Accounting Standards Codification Topic 805, Business Combinations.

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Accounting Today

SEPTEMBER 25, 2024

The proposed amendments would clarify guidance on hedge accounting and address issues that arose from the global reference rate reform initiative.

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Accounting Today

FEBRUARY 23, 2024

It's not just the 150-hour rule for obtaining a CPA license that may be the culprit for the talent shortage, according to an academic study.

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CPA Practice

JUNE 28, 2023

By Emily Fish, director of product accounting at LeaseQuery Within the lease accounting standards, there are exceptions to help entities determine which leases are in scope and which are not. First and foremost, the lease accounting standards apply to all entities—there isn’t an exception for an entity or industry as a whole.

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Withum

DECEMBER 14, 2023

On December 13, 2023, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) 2023-08 “Accounting for and Disclosure of Crypto Assets”. Contact Us The post Accounting Standards Update 2023-08: FASB’s New Crypto Accounting Guidance appeared first on Withum.

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Cherry Bekaert

NOVEMBER 6, 2023

Contact Us The post Cost Accounting Standard Considerations for a Growing GovCon appeared first on Cherry Bekaert.

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Withum

NOVEMBER 3, 2023

The subject of accounting standards is of utmost importance in the business world. With the ever-evolving nature of the global economy, it becomes imperative to align accounting practices and regulations with the changing needs of organizations. This is a change from previous lease guidance under ASC 840 – Leases.

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SMBAccountant

JANUARY 4, 2023

New rules are going into effect for lease accounting which may change how small businesses who follow Generally Accepted Accounting Principles (GAAP) think about and reporting leases. The new lease accounting rules seek to make the impact ofleases more transparent within financial statements. Permalink

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Cherry Bekaert

JANUARY 30, 2024

In the third episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Brendan Halloran , a Director with Cherry Bekaert Advisory, is joined by Jeffery Annessa , a Senior Manager in Cherry Bekaert’s Government Contractor Industry practice, to discuss CAS implications during mergers and acquisitions.

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CPA Practice

FEBRUARY 1, 2023

As expected, the Financial Accounting Standard Board (FASB) voted on Wednesday to issue an exposure draft of a new accounting standard that would require companies to measure cryptocurrency assets, like Bitcoin and Ethereum, using fair value accounting, with gains and losses recorded in current period comprehensive income.

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CPA Practice

MAY 1, 2024

The Board of Trustees of the Financial Accounting Foundation ( FAF ) is seeking nominations for new members to join the Financial Accounting Standards Advisory Council ( FASAC ) for an initial one-year term beginning January 1, 2025. The FASAC is the primary advisory body to the Financial Accounting Standards Board ( FASB ).

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SMBAccountant

DECEMBER 2, 2020

Many small business government contractors are exempt from complying with cost accounting standards (CAS) and defined by the code of federal regulations (CFR). However, compliance with generally accepted accounting principles (GAAP) is required. These should be integrated in any federal contractors accounting policies.

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Cherry Bekaert

OCTOBER 17, 2023

Cost Accounting Standards (CAS) are 19 standards and rules promulgated by 41 U.S.C. These standards impact emerging small and large businesses alike. Contact Us The post Cost Accounting Standards (CAS): A Comprehensive Overview for Government Contractors appeared first on Cherry Bekaert.

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Accounting Today

JUNE 10, 2025

Chris Gaetano Technology Editor, Accounting Today linkedin For reprint and licensing requests for this article, click here. Technology RSM Artificial intelligence Practice management MORE FROM ACCOUNTING TODAY IRS IRS updates procedures list for accounting changes Rev. All rights reserved. across four sections of the exam.

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Cherry Bekaert

FEBRUARY 27, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) expanded income tax disclosure requirements for public and private companies. The expanded disclosure requirements are detailed in Accounting Standards Update No. 2023-09 (ASU 2023-09) and increase transparency of a filer’s global taxes.

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CPA Practice

OCTOBER 18, 2024

Hosts Brian Tankersley, CPA, and Randy Johnston review TimeCredit AI, an AI assistant for technical accountants. Tankersley, CPA.CITP, CGMA 00:00 Randy, welcome to the accounting Technology Lab sponsored by CPA practice advisor. So for our auditing friends on the call, talk to me a little bit about accounting memos.

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Accounting Today

JUNE 6, 2025

XcelLabs provides solutions to help accountants use artificial technology fluently and strategically. Accountants know they need to be more advisory, but not everyone can figure out how to do it," Tolin said in a statement. All rights reserved. These offerings are currently in beta testing.

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Accounting Today

JUNE 13, 2025

Joshua Roberts/Bloomberg The Securities and Exchange Commission appointed Kurt Hohl, a former partner at Ernst & Young, as its new chief accountant, effective July 7. Acting chief accountant Ryan Wolfe will be returning to his role as chief accountant in the Division of Enforcement. All rights reserved. He received a B.B.S.

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Accounting Today

JUNE 11, 2025

As is common among many accounting firms taking PE capital, Elliott Davis will operate in an alternative practice structure. Read more: "Private equity in accounting: The end of the beginning" ) "This marks an important milestone for Elliott Davis," Otten said in a statement. All rights reserved.

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Accounting Today

OCTOBER 29, 2024

The Financial Accounting Standards Board issued a proposed accounting standards update to update the guidance on accounting for software, specifically when it comes to developing software for internal use.

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SMBAccountant

AUGUST 12, 2020

When working as a government contractor, these processes and policies need to be written, reviewed, and updated regularly to ensure compliance with the company’s own requirements, and the accounting standards demanded of contractors spending tax dollars.

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CPA Practice

NOVEMBER 25, 2024

The Financial Accounting Standards Board (FASB) has issued the report on Post-Implementation Review: Revenue from Contracts with Customers (Topic 606).

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Acterys

OCTOBER 20, 2024

More than half (59%) of accountants admit to making several errors per month, Gartner research found. It focuses on presenting financial data clearly and in accordance with accounting standards. Detailed Account Transactions A detailed account transactions report lists transactions by account or accounts over a specific period.

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CPA Practice

OCTOBER 17, 2024

The Governmental Accounting Standards Board ( GASB ) has issued guidance that establishes requirements for certain types of capital assets to be disclosed separately for purposes of note disclosures. This is designed to allow users to make informed decisions about these and to evaluate accountability. GASB Statement No.

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Accounting Today

MAY 21, 2024

The Governmental Accounting Standards Board is getting ready to roll out new rules and proposals for state and local governments, including improvements to the financial reporting model, classification of capital assets, and measurement of infrastructure assets.

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CPA Practice

MAY 1, 2025

The Financial Accounting Standards Board issued a proposed ASU on April 30 that would provide accounting guidance for debt exchange transactions involving multiple creditors.

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CPA Practice

MAY 12, 2025

The Financial Accounting Standards Board published new ruleson May 12 that the board says improve the requirements for identifying the accounting acquirer inFASB ASC Topic 805, Business Combinations.

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Accounting Today

JUNE 9, 2025

EDT 7 Min Read Facebook Twitter LinkedIn Email I am optimistic about the "trusted advisor" destination that the accounting profession has marked as its territory, but skeptical of the partnership model as a means of transportation to that promised land. All rights reserved.

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accountant accounted Account Technology 52

RogerRossmeisl

APRIL 10, 2023

Generally Accepted Accounting Principles (GAAP), fair value is “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” This definition is found in Accounting Standards Codification (ASC) Topic 820, Fair Value Measurement.

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MarkFriedlich

MARCH 30, 2020

The International Accounting Standards Board (IASB) has released the document, IFRS 9 and COVID-19—Accounting for Expected Credit Losses Applying IFRS 9 Financial Instruments in the Light of Current Uncertainty Resulting from the COVID-19 Pandemic.

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CPA Practice

APRIL 30, 2025

The Financial Accounting Standards Board issued a proposed ASU on April 30 that would provide accounting guidance for debt exchange transactions involving multiple creditors.

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Accounting Seed

MAY 28, 2025

You can make your life easier and guarantee smooth audits by using accounting software that helps government contractors meet DCAA compliance. Instead, DCAA audits check if your organization meets: Federal Acquisition Regulation (FAR) Cost Accounting Standards (CAS) And other government rules. What Does DCAA Compliant Mean?

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CPA Practice

NOVEMBER 25, 2024

The Governmental Accounting Standards Board (GASB) issued two exposure drafts on Monday: one on a proposed standard on subsequent events and the other a proposed update to an implementation guide in the form of questions and answers intended to clarify, explain, or elaborate on certain GASB pronouncements. 21, 2025.

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Accounting Today

MARCH 22, 2024

The Financial Accounting Standards Board decided to pursue targeted improvements to its rules for accounting for and disclosing software costs, instead of a single overarching model.

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Xero

DECEMBER 4, 2024

Complete year-end compliance work faster with Caseware Caseware is a Canadian-born, global provider of audit, financial reporting and data analytics solutions for accountants and bookkeepers. It’s all part of our work to make life better for people in small business and their advisors across Canada.

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Going Concern

OCTOBER 21, 2024

People familiar with the matter told the Financial Times the UK firm had introduced the new grade to hold on to a key layer of senior accountants and consultants and to bring in external hires with higher salaries. For the Defense Department to pass its audit, it must account for more than dollars. forces dominant.

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CPA Practice

JULY 23, 2024

Investors, accounting firms, and other stakeholders have until Oct. 21 to provide comments on a new proposed Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board (FASB) on Tuesday that aims to clarify rules on derivative accounting. Issue 1: Derivatives scope refinements.

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