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Yesterday, the Financial Accounting Standards Board (FASB) voted to approve proposals to amend the effective dates for several major Accounting Standards Updates (ASUs). The FASB voted to issue final ASUs to amend the effective dates of the following ASUs MORE
The Governmental Accounting Standards Board (GASB) regularly issues GASB statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S. MORE
Recent changes to two accounting standards, revenue recognition and leases, will have a significant impact on financial reporting in the transportation industry MORE
That means nearly all of these businesses will be impacted by the Financial Accounting Standards Board’s (FASB) update to the accounting standards for leases under generally accepted accounting principles in the United States (GAAP). MORE
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. Accounting policies and procedures can reach into almost every department, area, or responsibility, so they need to be communicated and monitored often. MORE
The International Accounting Standards Board introduced a significant overhaul to lease accounting standards , and while the changes went into effect at the start of 2019, corporates continue to face challenges to adhere to the standards and remain compliant. MORE
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. MORE
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP). MORE
The Financial Accounting Standards Board (FASB) became aware that the definition of collections in the Master Glossary of the FASB Accounting Standards Codification® (ASC) did not agree with the definition used in the American Alliance of Museums’ Code of Ethics for Museums (the Code). Accounting Standards Update (ASU) No. MORE
Recent guidance from the Financial Accounting Standards Board (FASB) confirms that short-term modifications due to the COVID-19 pandemic won’t be subject to the complex accounting rules for troubled debt restructurings (TDRs). MORE
The Financial Accounting Standards Board (FASB), which establishes accounting standards in the U.S., is offering corporates more time to adopt some revised standards, The Wall Street Journal said on Thursday (Oct. According to reports, the FASB approved a proposal earlier this week to give businesses more time to adopt new standards related to hedging and leases, after voting in July to delay implementation deadlines by between one and three years. MORE
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP). MORE
Certified Professional Accountants (CPAs) in California are calling on an industry watchdog to clarify standards for cryptocurrency accounting, with expectations that corporations will increase their use of cryptocurrencies moving forward. ” The committee also suggested in its letter that standards approach cryptocurrency accounting the same way they would for a corporation holding and using foreign currencies. MORE
In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. The Update represents the first comprehensive overhaul in lease accounting in approximately 40 years 2016-02, Leases (Topic 842) (the Update). MORE
Not-for-Profit Services Group to help organizations navigate and understand Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606 MORE
The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (Exposure Draft) that includes an optional one-year delay in the effective date for certain entities in applying the new lease and revenue recognition standards. MORE
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP). MORE
Banks and businesses alike are heading toward the 11th hour of changes in accounting standards, which will have a major impact on how companies report financial metrics and performance. The changes, initiated by the Financial Accounting Standards Board (FASB), will affect the way businesses report on leasing costs, revenue recognition, credit losses, financial assets and liabilities, derivatives and hedging. MORE
The Big Four auditing firms — EY, Deloitte, KPMG and PwC — have recently requested that the Financial Accounting Standards Board (FASB) provide clarity in how corporates should classify their reverse factoring or supply chain financing agreements, adding more fuel to a long-standing debate as to whether such trade financing tools are debt. MORE
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP MORE
The Governmental Accounting Standards Board (GASB) regularly issues GASB statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S. MORE
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP). MORE
To reflect the upcoming adoption of new accounting standards as well as lower interest rates, U.S. The bank also indicated that the accounting standard of Current Expected Credit Loss (CECL), set to take effect in 2020, affected the outlook for growth. CECL will make banks account for expected credit losses in a faster fashion. Banking accounting standards banking Citibank Interest Rates jpmorgan Morgan Stanley News us bancorp wells fargo What's Hot MORE
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP MORE
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. MORE
The Securities and Exchange Board of India will reportedly give non-bank financial companies (NBFCs) two years to adopt and implement changes to accounting standards, the Financial Express reported Wednesday (Sept. The new Indian Accounting Standards (Ind AS) are expected to have a significant impact on NBFCs’ financial management strategies, leading India regulators to defer implementation for these entities, reports said. MORE
The CARES Act (the “Act”) provides temporary relief from FASB Accounting Standards Update (ASU) No. Specifically, as worded in the Act, “no insured depository institution, bank holding company, or any affiliate thereof shall be required to comply with the Financial Accounting […]. MORE
Financial regulators are considering allowing smaller businesses (SMBs) more time to comply with sweeping changes in lease accounting standards, which experts have said will place a significant burden as organizations work to comply with the requirements. Reports in Accounting Today last week said Financial Accounting Standards Board (FASB) Chairman Russell Golden revealed that it is considering extending the compliance deadline for small and private firms by as much as two years. MORE
1 accounting standard known as “current expected credit loss” (CECL) in an effort to bolster loans in the wake of the coronavirus, the Wall Street Journal reported on Friday (March 27). Banking accounting standards banking CECL credit loans News What's Hot MORE
The Government Accounting Standards Board (GASB) regularly issues GASB Statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S. MORE
In February 2016, the Financial Accounting Standards Board (FASB) issued one of the most sweeping changes to generally accepted accounting principles in the United States (GAAP) – Accounting Standards Update (ASU) No. MORE
In August 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities MORE
On July 17, the Financial Accounting Standards Board (FASB) voted to have its staff prepare an exposure draft to delay the effective dates for accounting standard changes on leases, credit losses, and hedging. The FASB received several requests to provide relief as smaller companies are dealing with the highly challenging implementation of the revenue recognition standard. MORE
have led the Financial Reporting Council (FRC) to enact more stringent accounting standards, The Guardian reported on Monday (Sept. According to reports, the FRC issued an updated going concern standard, adding “significantly stronger requirements” for U.K. auditors than are currently mandated under international standards. B2B Payments accounting audits B2B corporate accounting FRC investigations News regulation requirements standards U.K. MORE
That means nearly all auto dealers will be impacted by the Financial Accounting Standards Board’s (FASB) update to the accounting standard for leases under U.S. generally accepted accounting principles (GAAP). The updated standard, which will take effect for private companies for fiscal years beginning after Dec. MORE
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted (GAAP) in the United States. MORE
The Financial Accounting Standards Board (FASB) has officially deferred the effective dates of new Accounting Standards Updates (ASUs) related to credit losses, leases, hedging, and long-duration insurance contracts with the issuance of ASU No. MORE
When the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, it represented perhaps the most extensive changes to accounting standards for revenue recognition ever. 31, 2019 for nonpublic companies; however, many have delayed analyzing how significantly the updated standards will impact their business MORE
The Governmental Accounting Standards Board (GASB) has issued Statement No. 91, Conduit Debt Obligations to improve the existing standards by providing a single method for government issuers to report conduit debt obligations and related commitments and to eliminate diversity in practice associated with reporting conduit debt obligations MORE
Enterprise lease accounting software company LeaseAccelerator is teaming up with Clearlink Partners to help joint clients ease the administrative burden of complying with changes in lease accounting standards. 14), noting LeaseAccelerator will collaborate with the business consulting services firm, which will provide businesses, government entities and small to medium-sized businesses (SMBs) with services to adopt new standards. MORE
Updated accounting rules for long-term leases took effect in 2019 for public companies. Now, after several deferrals by the Financial Accounting Standards Board (FASB), private companies and private not-for-profit entities must follow suit, starting in fiscal year 2022. MORE
The Governmental Accounting Standards Board (GASB) has issued Statement No. 87, Leases, in an effort to provide information that is more relevant and consistent related to the reporting of leases by governments. Effective for reporting periods after Dec. 15, 2019, this statement requires lessees to recognize a lease liability and a right-to-use asset for all leases regardless of classification. MORE
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP MORE
accounting standards Related Topics Katz,Sapper&Miller
AUGUST 31, 2020
The Government Accounting Standards Board (GASB) regularly issues GASB Statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S.
Katz,Sapper&Miller
MAY 12, 2020
The Governmental Accounting Standards Board (GASB) regularly issues GASB statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S.
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Katz,Sapper&Miller
JULY 9, 2019
The Governmental Accounting Standards Board (GASB) has issued Statement No. 91, Conduit Debt Obligations to improve the existing standards by providing a single method for government issuers to report conduit debt obligations and related commitments and to eliminate diversity in practice associated with reporting conduit debt obligations
PYMNTS
JUNE 24, 2019
Financial regulators are considering allowing smaller businesses (SMBs) more time to comply with sweeping changes in lease accounting standards, which experts have said will place a significant burden as organizations work to comply with the requirements. Reports in Accounting Today last week said Financial Accounting Standards Board (FASB) Chairman Russell Golden revealed that it is considering extending the compliance deadline for small and private firms by as much as two years.
Katz,Sapper&Miller
APRIL 24, 2019
The Governmental Accounting Standards Board (GASB) regularly issues GASB statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S.
Katz,Sapper&Miller
MARCH 21, 2019
The Governmental Accounting Standards Board (GASB) has issued Statement No. 87, Leases, in an effort to provide information that is more relevant and consistent related to the reporting of leases by governments. Effective for reporting periods after Dec. 15, 2019, this statement requires lessees to recognize a lease liability and a right-to-use asset for all leases regardless of classification.
Katz,Sapper&Miller
FEBRUARY 26, 2020
Katz,Sapper&Miller
JULY 18, 2019
On July 17, the Financial Accounting Standards Board (FASB) voted to have its staff prepare an exposure draft to delay the effective dates for accounting standard changes on leases, credit losses, and hedging. The FASB received several requests to provide relief as smaller companies are dealing with the highly challenging implementation of the revenue recognition standard.
PYMNTS
SEPTEMBER 26, 2019
The Securities and Exchange Board of India will reportedly give non-bank financial companies (NBFCs) two years to adopt and implement changes to accounting standards, the Financial Express reported Wednesday (Sept. The new Indian Accounting Standards (Ind AS) are expected to have a significant impact on NBFCs’ financial management strategies, leading India regulators to defer implementation for these entities, reports said.
Katz,Sapper&Miller
OCTOBER 17, 2019
Yesterday, the Financial Accounting Standards Board (FASB) voted to approve proposals to amend the effective dates for several major Accounting Standards Updates (ASUs). The FASB voted to issue final ASUs to amend the effective dates of the following ASUs
Katz,Sapper&Miller
NOVEMBER 21, 2019
The Financial Accounting Standards Board (FASB) has officially deferred the effective dates of new Accounting Standards Updates (ASUs) related to credit losses, leases, hedging, and long-duration insurance contracts with the issuance of ASU No.
PYMNTS
OCTOBER 9, 2018
Banks and businesses alike are heading toward the 11th hour of changes in accounting standards, which will have a major impact on how companies report financial metrics and performance. The changes, initiated by the Financial Accounting Standards Board (FASB), will affect the way businesses report on leasing costs, revenue recognition, credit losses, financial assets and liabilities, derivatives and hedging.
PYMNTS
OCTOBER 1, 2019
have led the Financial Reporting Council (FRC) to enact more stringent accounting standards, The Guardian reported on Monday (Sept. According to reports, the FRC issued an updated going concern standard, adding “significantly stronger requirements” for U.K. auditors than are currently mandated under international standards. B2B Payments accounting audits B2B corporate accounting FRC investigations News regulation requirements standards U.K.
|
Katz,Sapper&Miller
SEPTEMBER 20, 2018
That means nearly all auto dealers will be impacted by the Financial Accounting Standards Board’s (FASB) update to the accounting standard for leases under U.S. generally accepted accounting principles (GAAP). The updated standard, which will take effect for private companies for fiscal years beginning after Dec.
Katz,Sapper&Miller
SEPTEMBER 27, 2017
In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. The Update represents the first comprehensive overhaul in lease accounting in approximately 40 years 2016-02, Leases (Topic 842) (the Update).
Katz,Sapper&Miller
MAY 17, 2019
The Financial Accounting Standards Board (FASB) became aware that the definition of collections in the Master Glossary of the FASB Accounting Standards Codification® (ASC) did not agree with the definition used in the American Alliance of Museums’ Code of Ethics for Museums (the Code). Accounting Standards Update (ASU) No.
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.
MarkFriedlich
MARCH 30, 2020
The CARES Act (the “Act”) provides temporary relief from FASB Accounting Standards Update (ASU) No. Specifically, as worded in the Act, “no insured depository institution, bank holding company, or any affiliate thereof shall be required to comply with the Financial Accounting […].
PYMNTS
MARCH 30, 2020
1 accounting standard known as “current expected credit loss” (CECL) in an effort to bolster loans in the wake of the coronavirus, the Wall Street Journal reported on Friday (March 27). Banking accounting standards banking CECL credit loans News What's Hot
PYMNTS
JUNE 4, 2020
The International Accounting Standards Board introduced a significant overhaul to lease accounting standards , and while the changes went into effect at the start of 2019, corporates continue to face challenges to adhere to the standards and remain compliant.
PYMNTS
SEPTEMBER 12, 2019
To reflect the upcoming adoption of new accounting standards as well as lower interest rates, U.S. The bank also indicated that the accounting standard of Current Expected Credit Loss (CECL), set to take effect in 2020, affected the outlook for growth. CECL will make banks account for expected credit losses in a faster fashion. Banking accounting standards banking Citibank Interest Rates jpmorgan Morgan Stanley News us bancorp wells fargo What's Hot
PYMNTS
JUNE 10, 2019
Certified Professional Accountants (CPAs) in California are calling on an industry watchdog to clarify standards for cryptocurrency accounting, with expectations that corporations will increase their use of cryptocurrencies moving forward. ” The committee also suggested in its letter that standards approach cryptocurrency accounting the same way they would for a corporation holding and using foreign currencies.
PYMNTS
AUGUST 15, 2019
Enterprise lease accounting software company LeaseAccelerator is teaming up with Clearlink Partners to help joint clients ease the administrative burden of complying with changes in lease accounting standards. 14), noting LeaseAccelerator will collaborate with the business consulting services firm, which will provide businesses, government entities and small to medium-sized businesses (SMBs) with services to adopt new standards.
PYMNTS
OCTOBER 28, 2019
The Big Four auditing firms — EY, Deloitte, KPMG and PwC — have recently requested that the Financial Accounting Standards Board (FASB) provide clarity in how corporates should classify their reverse factoring or supply chain financing agreements, adding more fuel to a long-standing debate as to whether such trade financing tools are debt.
Katz,Sapper&Miller
OCTOBER 30, 2020
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP).
Katz,Sapper&Miller
JUNE 5, 2020
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP
Katz,Sapper&Miller
MAY 20, 2020
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP
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.
Katz,Sapper&Miller
DECEMBER 17, 2019
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP).
Katz,Sapper&Miller
APRIL 22, 2020
The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (Exposure Draft) that includes an optional one-year delay in the effective date for certain entities in applying the new lease and revenue recognition standards.
Marlogin,Winer&Evens
SEPTEMBER 21, 2020
Recent guidance from the Financial Accounting Standards Board (FASB) confirms that short-term modifications due to the COVID-19 pandemic won’t be subject to the complex accounting rules for troubled debt restructurings (TDRs).
Katz,Sapper&Miller
NOVEMBER 22, 2019
In February 2016, the Financial Accounting Standards Board (FASB) issued one of the most sweeping changes to generally accepted accounting principles in the United States (GAAP) – Accounting Standards Update (ASU) No.
Marlogin,Winer&Evens
AUGUST 31, 2021
Updated accounting rules for long-term leases took effect in 2019 for public companies. Now, after several deferrals by the Financial Accounting Standards Board (FASB), private companies and private not-for-profit entities must follow suit, starting in fiscal year 2022.
Katz,Sapper&Miller
MAY 29, 2019
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP).
Katz,Sapper&Miller
AUGUST 27, 2019
Not-for-Profit Services Group to help organizations navigate and understand Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606
Katz,Sapper&Miller
NOVEMBER 26, 2018
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP
Katz,Sapper&Miller
OCTOBER 4, 2019
Recent changes to two accounting standards, revenue recognition and leases, will have a significant impact on financial reporting in the transportation industry
Katz,Sapper&Miller
MARCH 3, 2020
That means nearly all of these businesses will be impacted by the Financial Accounting Standards Board’s (FASB) update to the accounting standards for leases under generally accepted accounting principles in the United States (GAAP).
Katz,Sapper&Miller
FEBRUARY 26, 2018
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted (GAAP) in the United States.
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. Accounting policies and procedures can reach into almost every department, area, or responsibility, so they need to be communicated and monitored often.
Katz,Sapper&Miller
AUGUST 27, 2017
In August 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities
Katz,Sapper&Miller
AUGUST 22, 2019
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP).
Katz,Sapper&Miller
DECEMBER 11, 2018
When the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, it represented perhaps the most extensive changes to accounting standards for revenue recognition ever. 31, 2019 for nonpublic companies; however, many have delayed analyzing how significantly the updated standards will impact their business
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