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U.S. and Japan Accounting Standard Setters Hold Biannual Meeting

CPA Practice

Representatives of the Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) held a meeting on April 17 in Norwalk, CT. The FASB values our long and productive working relationship with the ASBJ and we look forward to continuing these meetings for many years to come.”

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Changes to Lease Accounting Rules (ASC 842)

SMBAccountant

timber, livestock) • Leases of inventory or assets under construction Many small businesses do not evaluate their lease activities on a regular basis. Given the new lease accounting rules, these businesses may now need to determine whether the benefit of leasing outweighs those of buying.

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Navigating the Complexities of Delaware Statutory Trusts

Cherry Bekaert

It is critical for an entity to understand how a DST would be accounted for under GAAP before proceeding with an investment. It is crucial to enlist a trusted advisor to guide you in capitalizing on all of the opportunities a DST can bring, as well as remaining compliant with accounting standards.

Delaware 110
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How the New Revenue Recognition Standard Will Impact the Construction Industry

Katz,Sapper&Miller

The revenue recognition methodology for the construction industry will change with the adoption of Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606). 15, 2017 and for most non-public companies for periods beginning after Dec.

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Navigating the Complexities of Delaware Statutory Trusts

Cherry Bekaert

It is critical for an entity to understand how a DST would be accounted for under GAAP before proceeding with an investment. It is crucial to enlist a trusted advisor to guide you in capitalizing on all of the opportunities a DST can bring, as well as remaining compliant with accounting standards.

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Understanding the proportional amortization method

ThomsonReuters

Accounting for tax equity investments Implementing ASU 2023-02 Accounting professionals with equity investor clients who are involved with projects to receive income tax credits and other income tax benefits need to have a clear understanding of the proportional amortization method (PAM), especially in light of recent changes.

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

Going Concern

Day Named Technical Director of the Financial Accounting Standards Board [ FASB ] The Financial Accounting Standards Board (FASB) on March 20 announced the appointment of Jackson M. Movers and Shakers Jackson M. Day to the role of director of technical activities. Mr. Day will begin his new duties at the FASB this July.