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

FEBRUARY 28, 2023

The Financial Accounting Foundation (FAF) has launched its free, enhanced online access to the Accounting Standards Codification and the Governmental Accounting Research System (GARS), implementing a change announced last month. governmental entities.

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accounting standards Account accountant accounted 52

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.

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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

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.

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accounting standards Account accountant accounted 52

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.”

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accounting standards Account accountant accounted 58

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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Going Concern

JANUARY 9, 2023

A PCAOB inspections leader offers his insight to auditors at a conference: “The role of the financial statement auditor and the auditing profession continues to be a noble endeavor that has never been more needed and vital to our economic stability and the well-being of our capital markets,” said George Botic, CPA.

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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

CPA Practice

JANUARY 10, 2024

LeaseCrunch optimizes lease accounting processes for CPA firms by automating calculations and the required deliverables. The solution allows firms to streamline operations, save time, reduce errors, lower costs and simplify compliance with the new lease accounting standards.

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cpa firm CPA accounting standards Technology 52

Going Concern

MAY 12, 2023

Fired: job search or CPA exam? by u/OrganicAd5804 in Accounting Big 4 PwC scandal will be referred to national anti-corruption watchdog [ The Age ] On Thursday, Treasury confirmed that it was deciding whether to refer the matter to the Australian Federal Police in light of damning evidence of misconduct that was made public last week.

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Anders CPA

JANUARY 8, 2024

Jeanne Dee, CPA/CGMA, audit and assurance partner at Anders CPAs + Advisors (Anders), has been appointed to the Financial Accounting Standards Board (FASB) Not-for-Profit Advisory Committee (NAC) effective January 1, 2024. She also received the 2010 Women to Watch award from the MOCPA.

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CPA Practice

APRIL 30, 2024

“They offer a valuable platform to connect with CPA firms and industry peers to share insights on lease accounting. Through presentations, networking events and discussions at our booth, we aim to empower attendees with the knowledge and confidence to navigate ongoing compliance with the lease accounting standards.”

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DMCL

FEBRUARY 28, 2024

We are thrilled to announce that our Partner Amy Duncan has won a CPABC Early Achievement award , for members who distinguish themselves early in their CPA career! She plays a key role in the Standards and Guidance Committee and spearheads initiatives that drive the firm forward. Congratulations on this well-deserved honor, Amy!

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CPA Practice

AUGUST 10, 2023

In his new role, Dyer will be responsible for ensuring Grant Thornton’s engagement teams and clients continue to have access to industry-leading acumen, thought leadership and training on technical accounting standards. Decker received a bachelor’s degree in accounting and business management from Salisbury University.

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CPA Practice

OCTOBER 27, 2023

But really, Billy Scherba, CPA, is a carbon accountant. Billy Scherba Carbon accountants help companies understand what data matters to their carbon footprint, how to collect that data in a consistent manner, and how to use it to calculate the greenhouse-gas emissions they’re responsible for.

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CPA Practice

MARCH 1, 2024

The Board of Trustees of the Financial Accounting Foundation (FAF) has appointed Lisa Washburn to the position of vice chair and has appointmented David Goldman and Deborah L. Miller, CPA, to the Governmental Accounting Standards Advisory Council (GASAC). Miller, CPA. All appointees’ terms begin March 1, 2024.

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financial accounting Account accountant accounted 52

CPA Practice

OCTOBER 18, 2023

The American Institute of CPAs has awarded Robert H. Herz, CPA, CGMA, FCA, with its 2023 AICPA Gold Medal Award of Distinction. The award, presented since 1944, is the highest honor bestowed by the AICPA, recognizing CPAs “whose influence on the accounting profession has been especially notable.”

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cpas accounting standards accounting and finance CPA 52

CPA Practice

JANUARY 17, 2024

An insightful takeaway from 2023 is that for CPA firms and entities handling the intricate world of ongoing lease accounting this becomes even more critical. Until recently, spreadsheets held their ground as the go-to tool for accountants.

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Technology Account accountant accounted 59

Going Concern

MARCH 22, 2024

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. But until a deferral is confirmed, CPAs must consider which role they will serve for clients required to file when the CTA becomes effective.

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CPA Practice

MARCH 1, 2024

By Amrita Choudhary, Kiplinger Consumer News Service (TNS) In recent years, lease accounting standard ASC 842 has replaced the ASC 840 standard. All companies—whether big or small, public or private—have to implement this new accounting standard. Despite AI’s capabilities, human verification remains crucial.

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Withum

FEBRUARY 17, 2023

The team will go through recently issued Accounting Standard Updates, with an in-depth look at pronouncements applicable to the industry, including AICPA and FASB updates, and new accounting standards. Define upcoming AICPA and FASB updates.

Healthcare 52

Healthcare audit accounting standards Account 52

Anders CPA

JULY 21, 2022

The Financial Accounting Standards Board (FASB) issued new reporting guidelines to help increase transparency around the measurement of contributed nonfinancial assets recognized by not-for-profits, including how much was used to support programs and activities. View the recorded webinar by completing the form below.

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CPA Practice

MARCH 14, 2023

The American Institute of CPAs (AICPA) has named Mark Crowley, CPA, chairman of the Financial Reporting Executive Committee (FinREC). FinREC serves as the AICPA’s official voice on financial reporting matters and develops nonauthoritative industry-specific accounting guidance.

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Withum

DECEMBER 19, 2023

Seek Professional Assistance: Collaborate with experienced accountants or financial consultants who specialize in working with startups. Their expertise can help ensure compliance with accounting standards and facilitate the auditing process.

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Withum

JANUARY 12, 2024

This promotes transparency and compliance with accounting standards and regulations, such as Generally Accepted Accounting Principles (Accounting Standards Codification 805) or International Financial Reporting Standards, which mandate specific guidelines for the treatment of assets, liabilities, and goodwill in an acquisition.

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Withum

JUNE 15, 2023

Recognizing and getting a refresher in the newly effective accounting standard, ASC 842 Leases, that changed accounting and terminology for reporting operating and finance leases under the previous standard.

CPA 52

CPA accounting and finance accounting standards Finance 52

SkagitCountyTaxServices

JUNE 8, 2022

So if you want to talk through your particular landscape, Padgett & Padgett, PLLC CPA is in your corner, right here: app.acuityscheduling.com/schedule.php?owner=19530343. One independent organization working to keep companies’ books clear and honest is the Financial Accountant Standards Board. Standard setter.

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accounting principles accounting standards accrual accounting Education 80

Shay CPA

APRIL 3, 2024

GAAP stands for Generally Accepted Accounting Principles. These guidelines come from two trusted sources: the Governmental Accounting Standards Board (GASB) and the Financial Accounting Standards Board (FASB). Organize according to GAAP If you’ve been following our blogs, you’ve probably seen this come up before.

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bookkeeping Finance accounting and finance accounting principles 59

CPA Practice

MARCH 21, 2023

LeaseCrunch LLC , a maker of lease accounting technologies, has nearly doubled its team as the company achieves record growth. LeaseCrunch now supports over 500 CPA firms (including 43% of the top 400 CPA firms as ranked by Inside Public Accounting ) and 15,000 companies across the nation on its lease accounting software.

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CPA Practice

MARCH 20, 2024

The Securities and Exchange Commission has accepted the 2024 GAAP Financial Reporting Taxonomy (GRT) and the 2024 SEC Reporting Taxonomy (SRT), collectively known as the “ GAAP Taxonomy ,” the Financial Accounting Standards Board (FASB) said on March 19. In addition, the FASB finalized the 2024 DQC Rules Taxonomy (DQCRT).

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accounting principles accounting standards income tax Tax 105

ThomsonReuters

FEBRUARY 8, 2024

Emily Hildebrand , CPA, Tax and Accounting Senior Specialist Editor for Thomson Reuters, further explained, “This assumption requires that books and records be maintained for each distinct economic entity and cannot be co-mingled with owner records, or the records of other entities.

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ThomsonReuters

JANUARY 18, 2024

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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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.

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income tax Tax accounting standards tax planning 111

CPA Practice

DECEMBER 14, 2023

The Financial Accounting Standards Board ( FASB ) has issued an Accounting Standards Update (ASU) that addresses requests for improved income tax disclosures from investors, lenders, creditors, and other allocators of capital (collectively, “investors”) that use the financial statements to make capital allocation decisions.

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income tax Tax accounting standards financial statements 110

CPA Practice

OCTOBER 9, 2023

The Financial Accounting Standards Board ( FASB ) has issued an Accounting Standards Update (ASU) that incorporates certain U.S. Securities and Exchange Commission (SEC) disclosure requirements into the FASB Accounting Standards Codification.

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accounting principles accounting standards financial statements financial accounting 110

Withum

SEPTEMBER 7, 2023

On September 06, 2023, the Financial Accounting Standards Board took a bold and definitive step towards formalizing and adopting accounting and disclosure guidance for crypto assets. Let’s Chat The post Fair Value Accounting Coming to Crypto Assets appeared first on Withum. What’s Next?

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