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Financial Accounting Foundation Names New Vice Chair and Members of GASAC

CPA Practice

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). All appointees’ terms begin March 1, 2024.

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What is Managerial Accounting and How Does it Differ from Financial Accounting?

Snyder

So what’s managerial accounting, and why is it crucial for small business owners? Managerial accounting is…. How managerial accounting looks at data. What managerial accounting focuses on. Major tasks of managerial accounting. Financial accounting vs. managerial accounting. Contents: 1.

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Financial Accounting Foundation looks for new trustees

Accounting Today

The FAF, which oversees FASB and GASB, is asking for nominations for at-large trustees.

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Poll: How important are journal entries for introductory financial accounting?

Wendy Tietz

I am working on developing a new project for introductory financial accounting and I am trying to decide whether to include journal entries as part of the project, or to focus on understanding and the use of the information. The project I am working on would apply to several topics within introductory financial accounting, […]

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Financial Accounting Standards Advisory Council Meeting Recap

CPA Practice

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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New! Word Search Puzzle to Review PP&E and More in Financial Accounting

Wendy Tietz

Below are links to a word search puzzle to review Property, Plant & Equipment and Intangible Assets in financial accounting. Both links are to the same puzzle, but one has a solution button enabled and the other does not.

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Supreme Court To Analyze Report of Foreign Bank and Financial Accounts Penalties

Withum

The IRS requires FinCEN Report 114, Report of Foreign Bank and Financial Accounts (FBAR), to be filed annually by every U.S. person that has ownership of, a financial interest in, or signature or other authority over a financial account or accounts in a foreign country with an aggregate value in excess of $10,000.