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.

accounting standards 52

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Cherry Bekaert

JANUARY 19, 2023

Contributor: Jack McKee, Manager | Government & Public Sector Governmental Accounting Standards Board (GASB) Statement 96 provides guidance and addresses how the costs and investments for subscription-based information technology arrangements (SBITAs) are accounted for and disclosed by governmental entities.

Technology 98

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CPA Practice

APRIL 24, 2023

Being recognized for its clear commitment to providing superior technology products and solutions to small- and mid-market businesses, LeaseQuery has joined the Information Technology Alliance (ITA).

Technology 40

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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.

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Accounting Today

APRIL 10, 2024

The International Accounting Standards Board has completed a new standard to give investors more readily comparable information about companies operating profits in one of the biggest changes to International Financial Reporting Standards in decades.

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Accounting Today

MARCH 14, 2024

The International Accounting Standards Board hopes to enhance the information provided by companies to their investors about acquisitions under IFRS.

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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.

income tax 110

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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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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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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.

Account 115

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Accounting Today

JANUARY 8, 2024

The Governmental Accounting Standards Board released guidance requiring state and local governments to disclose information about certain risks.

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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. What exactly is GAAP? All publicly traded companies are required to follow GAAP.

Government 219

Government accounting principles Account accountant 219

CPA Practice

DECEMBER 19, 2023

The Financial Accounting Standards Board (FASB) on Dec. The 2024 GRT contains updates for accounting standards and other recommended improvements, including those required for Securities and Exchange Commission Release Nos. Data Quality Committee’s (DQC) validation rules, predominantly for regulator use.

accounting principles 111

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Withum

MAY 7, 2024

When equity investments are valued at fair value, fair value needs to be measured based upon the requirements in Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurement. Whether users of financial statements need additional information to evaluate the quantitative information disclosed.

Sales 69

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Cherry Bekaert

FEBRUARY 12, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) issued final guidance concerning income tax disclosures, labeled Accounting Standards Update No. 2023-09 (ASU 2023-09). For businesses surpassing specified quantitative thresholds, further disaggregation by taxing jurisdictions may be required.

income tax 105

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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. In SEC Release No.

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CPA Practice

SEPTEMBER 7, 2023

The Financial Accounting Standards Board (FASB) unanimously approved new rules on Sept. Our mission is to best reflect the economics of a transaction and provide investors and allocators of capital with the information they need. I think this [standard] moves the needle there.

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Withum

MARCH 1, 2024

In November 2023, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) to improve disclosures related to reportable segments. Segment information allows users of the financial statements to better understand the activities that comprise a company’s business.

Non-Profits 80

Non-Profits financial statements accounting standards Account 80

CPA Practice

DECEMBER 13, 2023

The Financial Accounting Standards Board ( FASB ) has published an Accounting Standards Update (ASU) intended to improve the accounting for and disclosure of certain crypto assets. The ASU , including more information about transitioning to the new standard, is available at www.fasb.org

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CPA Practice

JANUARY 23, 2024

Have you been over to the Financial Accounting Standards Board’s (FASB) website lately? We are confident that they will appreciate the many improvements we made and how much easier it is to access important information.” If not, it has a new look.

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CPA Practice

DECEMBER 22, 2023

The Financial Accounting Standards Board has issued a proposed new chapter of its Conceptual Framework related to the measurement of items recognized in financial statements. The Conceptual Framework is a body of interrelated objectives and fundamentals that provides the FASB with a useful tool as it sets standards.

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ThomsonReuters

APRIL 5, 2024

That’s because interim tax reporting plays a pivotal role in providing valuable financial information between annual reporting periods. Interim tax reports give stakeholders important financial information needed to evaluate tax-related risks and opportunities, and to make informed investment or lending decisions.

Tax 68

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CPA Practice

APRIL 30, 2024

The Financial Accounting Standards Board ( FASB ) has added three new members to its Small Business Advisory Committee ( SBAC ), effective immediately. For more information about the SBAC and its activities, visit www.fasb.org.

Texas 52

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Cherry Bekaert

MARCH 14, 2024

sales tax 05:24 – Compliance differences 06:43 – Nexus 12:02 – Preparing for March 15 deadline 14:54 – Important foreign subsidiary owner discussions 17:14 – Outsource solutions Related Guidance Article: Tax Insights for Indian Companies in the U.S.

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CPA Practice

JANUARY 11, 2024

The Governmental Accounting Standards Board has issued new guidance that requires state and local governments to disclose information about certain risks. 102 , Certain Risk Disclosures , requires governments to disclose essential information about risks related to vulnerabilities due to certain concentrations or constraints.

financial statements 105

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Cherry Bekaert

FEBRUARY 23, 2024

The Governmental Accounting Standards Board (GASB) recently issued Statement No. The statement aims to provide financial statement users with improved and comparable information regarding compensated absences by establishing a unified model for recognizing and measuring compensated absences.

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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.

Real Estate 76

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CPA Practice

AUGUST 23, 2023

The Financial Accounting Standards Board (FASB) issued a new standard on Wednesday that addresses the accounting for contributions made to a joint venture, upon formation, in a joint venture’s separate financial statements. 1, 2025, and early adoption is permitted.

Account 52

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Accounting Insight

MAY 20, 2024

Secure collaboration features enable multi-user access from different locations, facilitating real-time collaboration and enhancing decision-making with up-to-date information.

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ThomsonReuters

FEBRUARY 8, 2024

Accounting assumptions, along with accounting principles and concepts, provide professionals with the necessary framework for preparing financial statements. It should be noted that accounting assumptions are not based on subjective opinions or guesstimates.

Account 96

Account accountant accounted accounting principles 96

Cherry Bekaert

MARCH 27, 2024

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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CPA Practice

DECEMBER 20, 2023

The Financial Accounting Standards Board ( FASB ) today published a proposed Accounting Standards Update (ASU) intended to improve the application and relevance of accounting guidance related to induced conversions of convertible debt instruments.

accounting standards 52

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CPA Practice

FEBRUARY 27, 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.

Account 52

Account accountant accounted accounting standards 52

CPA Practice

MARCH 24, 2023

The Financial Accounting Standards Board (FASB) on Thursday published an exposure draft of its proposed accounting rules on how companies should report certain types of crypto assets and digital currencies.

Account 111

Account accountant accounted accounting standards 111

CPA Practice

SEPTEMBER 1, 2023

Carbon accounting and sustainability management solutions that help businesses track important factors like gas emissions, energy consumption, water usage and waste management are integral to monitoring overall environmental impact. The Risk: Failing to Meet Investor Expectations Widespread ESG adoption isn’t exclusive to corporations.

accounting and finance 98

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ThomsonReuters

FEBRUARY 1, 2024

GAAP rules for outstanding checks Staying up to date with GAAP standards Accurately tracking and presenting financial information can be complex, even for smaller organizations. Enter Generally Accepted Accounting Principles, more commonly known as GAAP. What are the GAAP accounting rules? Let’s take a closer look.

Non-Profits 52

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Cherry Bekaert

MARCH 27, 2024

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 98

Delaware Real Estate accounting standards Legal 98