CBH

APRIL 1, 2019

Last month, the Financial Accounting Standards Board (“FASB”) finalized new guidance that updates its definition of “collections” to be aligned with the definition used by the American Alliance of Museums. In Accounting Standards Update (“ASU”) No. Early application is allowed.

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Going Concern

FEBRUARY 17, 2023

Audit Lack of Crypto Audit Regulation Raises Questions About PCAOB Authority [ Wall Street Journal ] The Public Company Accounting Oversight Board is facing calls to be the regulator that brings supervision to bear on auditors of cryptocurrency companies, even as the majority of crypto businesses fall outside its jurisdiction. “It

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Withum

JANUARY 29, 2024

3] For 2023, deal value decreased to the lowest point since 2017, outside of the COVID lockdown in 2020. [4] Venture Capital deal value in Q3 2023 fell to the lowest level since Q2 2018. [1] 2] This trend has been echoed in the private equity space with value through exits in US investments falling 26.4%

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Menzies

FEBRUARY 13, 2023

Menzies LLP - A leading chartered accountancy firm. Failure to apply IFRS 15 properly could lead to a material misstatement of revenue and profit in a business’ financial statements. Blog How will the new accounting standards impact construction companies? read more What is IFRS 16?

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Baruch Lev

FEBRUARY 5, 2021

In April 2020, Tapestry, Inc. ( Because in an interview with the Wall Street Journal (January 4, 2021), the Financial Accounting Standards Board (FASB) chair stated that goodwill accounting will be a priority for the U.S. standard-setting body in 2021. By Feng Gu and Baruch Lev. on the announcement day.

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Cherry Bekaert

JULY 20, 2023

Standard setters have been relatively inactive this year. The Financial Accounting Standards Board (FASB) has issued only two new Accounting Standard Updates (ASUs) and the Government Accounting Standards Board (GASB) has not issued any new GASB Statements in 2023.

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Withum

FEBRUARY 1, 2023

This would allow taxpayers to amend their 2020 and 2021 returns with a 481(a) adjustment and defer picking up the recapture of the LIFO reserve. However, the Taxpayer Certainty and Disaster relief Act of 2020 allowed for an exception. The relief under this bill would allow dealers a 3-year window to replenish inventory levels.

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Cherry Bekaert

OCTOBER 29, 2024

The Financial Accounting Standards Board (FASB) did not issue any new Accounting Standard Updates (ASUs) in the third quarter of 2024; however, we are expecting a number to be issued in the fourth quarter. The Government Accounting Standards Board (GASB) issued one new GASB Statement in the third quarter of 2024.

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ThomsonReuters

MAY 6, 2021

A discounted cash flow approach is a type of “income approach” or “present value technique,” two terms used frequently in the FASB Accounting Standards Codification®. In some cases, a contract or a set of financial statements may be a good starting point to gauge potential cash flows.

accounted 52

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Cherry Bekaert

FEBRUARY 8, 2023

Standard setters were relatively inactive this past year. The Financial Accounting Standards Board (FASB) issued only six new Accounting Standard Updates (ASUs) and the Government Accounting Standards Board (GASB) issued only three new GASB Statements in 2022.

Non-Profits 40

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Going Concern

JANUARY 20, 2023

The bank paid PwC $130mn for audit and related assurance services in each of 2020 and 2021, meaning the appointment could be worth about $1.3bn over the next decade. Some are appointing “ESG controllers” with accounting backgrounds to impose the kinds of internal systems used to produce financial statements.

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Going Concern

OCTOBER 25, 2024

Fitzpatrick says the audit shows the County Clerk failed to accurately calculate the property tax levy reduction amount collected for 2020, 2021 and 2022. accounting standard setter’s meeting last week. accounting standard setter’s meeting last week. The board also set a 45-day comment period for the update.

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