Remove 2023 Remove accounting standards Remove corporate accounting
article thumbnail

Top accounting issues in 2023

ThomsonReuters

Furthermore, Thomson Reuters research found that changes to tax rules is a major area of focus for employee training at firms in 2023, as 66 percent of firm leaders said they will offer such training to everyone in their firm. The lease accounting standard became effective in 2019 for public companies.

article thumbnail

Ways to prevent financial reporting errors

ThomsonReuters

accounting standards require prior statements to be corrected and the corrections to be disclosed. The CPA will judge the information based on how well it complies with accounting standards. What is a financial statement restatement? When there are errors in financial reporting, U.S.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Guide to accountant responsibilities

ThomsonReuters

Furthermore, accountants are increasingly focusing on a particular vertical or niche to further boost their competitive edge. While the number of college accounting graduates has been on the decline , projections for the 2023–24 academic year proved more favorable, according to the AICPA’s 2023 Trends report.

article thumbnail

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.

Minnesota 113
article thumbnail

Carbon Accounting Frequently Asked Questions (FAQs)

Cherry Bekaert

Authors: Gabriela Payne, CPA On September 14, 2023, California’s Legislature approved a landmark Senate Bill 253/Climate Corporate Data Accountability Act, which is expected to have global impacts on corporate climate accountability. Is There a Standard to Calculate Carbon Emissions?