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FASB Adds Standard on Income Statement Expenses

CPA Practice

A new standard requiring public companies to disclose, in interim and annual reporting periods, additional information about certain expenses in the notes to financial statements was finalized by the Financial Accounting Standards Board (FASB) on Nov. This information is generally not presented in the financial statements today.

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SEC Finalizes Climate Disclosure Rules: Enhancement and Standardization of Climate-Related Disclosures for Investors

Cherry Bekaert

Contributor: Gabriela Payne, CPA On March 6, 2024, the U.S. The rules require registrants to provide climate-related information in their registration statements and annual reports. The earliest effective date would be fiscal year 2025, meaning compliance adherence beginning in early 2026 for calendar-year filers.

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New GASB Members Named

CPA Practice

With over 35 years of professional experience auditing, reviewing, and preparing local government financial statements, he brings both a technical and practical understanding of the role accounting plays in advancing transparency and accountability in government.” Suzanne Lowensohn to the role of vice chair for the GASAC.

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Private Equity 2023 Year-in-Review and 2024 Outlook: Clearer Skies Emerge for Private Equity Amidst Challenges

Cherry Bekaert

Compliance requirements for SB 253 are as follows: Beginning in 2026 (for reporting year 2025), reporting entities are required to annually report their Scope 1 and Scope 2 greenhouse gas emissions. and professional services (CPA, consulting and wealth management firms). More guidance on this is forthcoming.

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Monday Morning Accounting News Brief: Semper Fi-nancial; EY Gets a D in Auditing; Deepfake CFOs Are a Thing | 2.26.24

Going Concern

And I’m also feeling a lot of guilt in looking back… — Brenda Cannon, CPA (@bsuecannon) February 23, 2024 The Marines have achieved the seemingly impossible : The U.S. During this two-year audit, the Marine Corps had independent third-party auditors from Ernst and Young vet the value of all its assets listed on financial statements.

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Ensuring Climate ESG Auditing Excellence: How Your Trusted Accounting Partner Makes the Difference

Withum

The recently passed California climate disclosure rule, SB 253, will require companies to start limited assurance in 2026 and reasonable assurance in 2030 for Scope 1 and 2 emissions. Future-looking information: Financial statements usually just look at the previous fiscal years’ balance sheets.

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Friday Footnotes: BDO Blows It; PwC Blazes a Trail in New Audit Fines; Using AI For Tax Research | 8.16.24

Going Concern

Those are some of the many careers available to a certified public accountant (CPA). We need to come together as public accounting firms, public and private companies, industry associations and CPA societies to sell a career in accounting differently. We need to create greater awareness for the work of a CPA and the impact it has.

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