CPA Practice

MARCH 31, 2023

The Financial Accounting Standards Advisory Council ( FASAC ) held its quarterly meeting on Tuesday, March 7, 2023. The FASB chair provided highlights on FASB activities, and the SEC and PCAOB staff members commented on current issues and activities. Council members discussed the following topics.

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accounting standards financial accounting account accountant 59

CPA Practice

JUNE 2, 2023

Adhering to financial statement standards, like the new GAAP lease accounting standard s that went into effect January 2022 for many private companies, is one way you can help your clients stay compliant and avoid additional scrutiny while ensuring the stability of their bank relationships.

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accounting standards account accountant accounted 52

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. Below are select statements that were recently issued.

accounting standards 98

accounting standards account accountant accounted 98

Cherry Bekaert

JUNE 28, 2023

This webinar provides an overview of the ASC 326 Financial Instruments – Credit Losses (CECL) accounting standard. Our speakers discuss the key changes from the legacy incurred loss model, what instruments are in scope under the new standard, and areas companies should focus on during implementation.

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accounting standards account accountant accounted 52

CPA Practice

FEBRUARY 3, 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.

accounting standards 52

accounting standards account accountant accounted 52

LSLCPAs

DECEMBER 17, 2021

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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accounting standards account accountant accounted 52

Cherry Bekaert

FEBRUARY 1, 2023

In this webinar, we cover an overview of the Accounting Standards Updates (ASUs) released for year-end 2022 and 2023 that may impact your business.

accounting standards 40

accounting standards account accountant accounted 40

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.

accounting standards 56

accounting standards account accountant accounted 56

Katz,Sapper&Miller

FEBRUARY 26, 2020

The Financial Accounting Standards Board (FASB) has issued the Proposed Accounting Standards Update Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets (Exposure Draft), which would impact the presentation and disclosure of contributed nonfinancial assets, also known as gifts-in-kind (..)

accounting standards 58

accounting standards account accountant accounted 58

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. We’ll ask you for input on this as well.”

accounting standards 58

accounting standards account accountant accounted 58

Accounting Today

SEPTEMBER 6, 2023

The Financial Accounting Standards Board voted to adopt its eagerly awaited standard for cryptocurrency like Bitcoin held by companies.

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accounting standards financial accounting account accountant 139

PYMNTS

OCTOBER 18, 2019

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. 15, 2022 to adopt CECL. 15, 2019 deadline for large public lenders has not changed.

accounting standards 40

accounting standards account accountant accounted 40

Accounting Today

AUGUST 30, 2023

The Financial Accounting Standards Board released another chapter of its conceptual framework related to the recognition and derecognition of an item in financial statements.

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accounting standards financial statements financial accounting account 117

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. regulators have given small businesses more time than other firms to adopt the accounting standard changes.

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accounting standards account accountant accounted 43

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.

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accounting standards account accountant accounted 40

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. Experts say the move will not go unnoticed when the accounting standards begin to take effect for public companies in 2021.

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accounting standards account accountant accounted 61

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. 2019-09, Financial Services—Insurance (Topic 944): Effective Date and ASU No.

accounting standards 40

accounting standards account accountant accounted 40

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. Below are select statements that were recently issued.

accounting standards 40

accounting standards account accountant accounted 40

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:

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accounting standards account accountant accounted 40

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. More high-profile corporate collapses in the U.K.

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accounting standards account accountant accounted 51

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.

accounting standards 40

accounting standards account accountant accounted 40

Accounting Today

SEPTEMBER 19, 2022

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accounting standards 98

accounting standards account accountant accounted 98

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 40

accounting standards account accountant accounted 40

Accounting Today

AUGUST 30, 2023

The Financial Accounting Standards Board voted to require companies to tell the public more about the taxes they pay, starting as early as 2025.

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income tax tax accounting standards financial accounting 137

Katz,Sapper&Miller

JULY 9, 2019

The Governmental Accounting Standards Board (GASB) has issued Statement No.

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accounting standards account accountant accounted 45

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.

accounting standards 40

accounting standards account accountant accounted 40

Accounting Today

SEPTEMBER 7, 2023

The Federal Accounting Standards Advisory Board wants to improve the guidance for the management's discussion and analysis section of reports by federal agencies.

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account accountant accounted accounting standards 66

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).

accounting standards 40

accounting standards account accountant accounted 40

Accounting Today

JUNE 7, 2022

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accounting standards account accountant accounted 98

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.

cpa 189

cpa accounting principles accounting standards account 189

SMBAccountant

JANUARY 4, 2023

Sources: Lease Query: Five Tips for Small Business Lease Accounting CPA Hall Talk: How to Understand the New Lease Accounting Standard HWA Alliance of CPA Firms, Inc.:

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account accountant accounted accounting and finance 246

CPA Practice

MARCH 16, 2023

The Financial Accounting Standards Board released a proposed Accounting Standards Update (ASU) on Wednesday that addresses requests from investors for improved income tax disclosures.

income tax 111

income tax tax accounting standards financial statements 111

CPA Practice

MAY 2, 2023

The Financial Accounting Standards Board (FASB) recently updated guidance for applying the lease accounting standard to arrangements between entities under common control. The accounting for leasehold improvements associated with leases between entities under common control.

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accounting standards financial accounting account accountant 69

CPA Practice

SEPTEMBER 7, 2023

The Financial Accounting Standards Board (FASB) unanimously approved new rules on Sept. 6 that will now require certain cryptocurrency assets, such as Bitcoin and Ethereum, to be measured at fair value.

accounting standards 98

accounting standards financial statements account accountant 98

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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international accounting standards accounting standards tax account 183

Accounting Today

JULY 31, 2023

The accounting standard won't be mandatory. A majority of an industry working group voted to exclude two-thirds of the emissions linked to their capital markets businesses.

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account accountant accounted accounting standards 52

CPA Practice

JANUARY 30, 2023

The Financial Accounting Foundation (FAF) said on Monday it is planning to give investors and other stakeholders greater online access to financial accounting standards for public and private companies, as well as for governments.

accounting standards 52

accounting standards financial accounting account accountant 52