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FASB Votes Against Extending the Lease Accounting Standard Due Date

LSLCPAs

The Financial Accounting Standards Board FASB rejected the Pennsylvania Institute of CPA’s (PICPA) request for a two-year extension of the lease accounting standard’s due date. The lease standard takes effect for nonpublic entities for fiscal years beginning after Dec.

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Attention, Soon-to-be-Accountants: Governments Need You

CPA Practice

Professional association leaders warn that accounting staff shortages are popping up nationwide, impairing financial reporting at the same time that Congress has been pushing for more transparency in financial data , which will require even more staff work. So what’s changed in the supply chain for governmental accountants?

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Guide to accountant responsibilities

ThomsonReuters

Jump to: What are the roles and responsibilities for accountants? Accountant vs. CPA vs. tax preparer: What are the differences? GAAP and AICPA What issues should accountants be aware of in the profession? How can accountants be more efficient? Accountant responsibilities extend far beyond number crunching.

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Overcoming the Five Stages of Lease Accounting Grief

Going Concern

When Thomson Reuters reported late last year that the Financial Accounting Standards Board (FASB) had proposed an eighth round of changes to lease accounting rules 1 , accounting and finance execs around the country channeled their inner Charlie Browns with a collective, “Good grief!”

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Beyond Offshoring: A Spectrum of Sourcing Solutions

CPA Practice

The accounting profession is struggling to deal with a talent shortage. Fewer students are selecting accounting as a major, and those who do often opt for careers outside of public accounting. India, in particular, has become a hub for highly qualified accountants, many of whom possess a deep understanding of U.S.

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Friday Footnotes: Bob Moritz Disappoints Us; ERC Window Slamming Shut; 2024 Sucks For Firms? | 3.22.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Look no further, Accountingfly’s top remote accounting candidates of the week are here.

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Monday Morning Accounting News Brief: EY Wants to Buy; Losers Dump NFTs For Tax Purposes; CPA Demand in 2031 | 1.9.23

Going Concern

Here’s a rundown of accountant-client privilege vs. attorney-client privilege as explained by a tax lawyer. There’s a misconception that it’s a dry accounting exercise, but ultimately tax law is a very rich moral discussion,” he says. The median annual salary for CPAs was $77,250 in May 2021. As seen on r/accounting.

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