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FASB Looks to Add New Rules on Accounting For Government Grants by Businesses

CPA Practice

A new proposal that would establish authoritative guidance on the accounting for government grants received by businesses was issued by the Financial Accounting Standards Board (FASB) on Nov. When applying that guidance by analogy, business entities may not apply all of that guidance,” the FASB said in its proposal.

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IRS FY 2024 Financial Report Says Longtime Deficiency Resolved

CPA Practice

It highlights the programs, accomplishments, challenges and management’s accountability for the resources entrusted to the IRS. The IRS received an unmodified (clean) opinion on its financial statements for the 25th consecutive year from the Government Accountability Office. generally accepted accounting principles.

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Financial Audit Preparation Steps: Expert Tips for An External Audit Process 

Withum

AICPA Audits are for the audit of private companies, not-for-profit organizations, and smaller government entities. These audits are governed by Generally Accepted Auditing Standards (GAAS) and focus on the accuracy of financial statements. PCAOB Audits are required for publicly traded companies and entities registered with the SEC.

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Monday Morning Accounting News Brief: PwC Consolation Prizes; Al Pacino’s Accountant Ripped Him Off | 10.21.24

Going Concern

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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Tech Startup Accounting Insights From A Y Combinator Company

inDinero Tax Tips

When youre building a tech startup, accounting probably doesnt feel very exciting. In this article, well explore the essentials of tech startup accounting, including best practices, common mistakes, and the accounting software we think will make your life easier. Whats Unique About Tech Startup Accounting?

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GASB gives guidance on pronouncements

Accounting Today

EDT 1 Min Read Facebook Twitter LinkedIn Email The Governmental Accounting Standards Board issued questions and answers to help explain certain pronouncements to stakeholders. All rights reserved. Courtesy of GASB Implementation Guide No.

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GASB Proposes Guidance on Subsequent Events

CPA Practice

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.