Accounting Today

OCTOBER 29, 2024

The Financial Accounting Standards Board issued a proposed accounting standards update to update the guidance on accounting for software, specifically when it comes to developing software for internal use.

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Cherry Bekaert

NOVEMBER 6, 2023

Contact Us The post Cost Accounting Standard Considerations for a Growing GovCon appeared first on Cherry Bekaert.

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Cherry Bekaert

FEBRUARY 27, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) expanded income tax disclosure requirements for public and private companies. The expanded disclosure requirements are detailed in Accounting Standards Update No. 2023-09 (ASU 2023-09) and increase transparency of a filer’s global taxes.

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CPA Practice

JUNE 28, 2023

By Emily Fish, director of product accounting at LeaseQuery Within the lease accounting standards, there are exceptions to help entities determine which leases are in scope and which are not. First and foremost, the lease accounting standards apply to all entities—there isn’t an exception for an entity or industry as a whole.

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Withum

NOVEMBER 3, 2023

The subject of accounting standards is of utmost importance in the business world. With the ever-evolving nature of the global economy, it becomes imperative to align accounting practices and regulations with the changing needs of organizations. This is a change from previous lease guidance under ASC 840 – Leases.

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Cherry Bekaert

JULY 30, 2024

In the fourth episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Brendan Halloran , a Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa , a Senior Manager in the Firm’s Government Contracting practice.

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ThomsonReuters

JUNE 6, 2022

When you can flag changes in accounting, auditing, and tax that clients didn’t know about, and help them manage commercial impacts with innovative solutions, then you’re well on your way to gaining their trust. But how do you stay current on accounting and auditing standards when there are new developments happening all the time?

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Cherry Bekaert

OCTOBER 17, 2023

Cost Accounting Standards (CAS) are 19 standards and rules promulgated by 41 U.S.C. These standards impact emerging small and large businesses alike. Contact Us The post Cost Accounting Standards (CAS): A Comprehensive Overview for Government Contractors appeared first on Cherry Bekaert.

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Cherry Bekaert

DECEMBER 15, 2023

Gain insights on the new standards for 2023 reporting. During this webinar we will discuss the newly effective accounting standards for the December 31, 2023, reporting period as well as the accounting standards that were issued in 2023.

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Accounting Today

NOVEMBER 19, 2024

The Financial Accounting Standards Board issued a proposed accounting standards update to establish authoritative guidance on the accounting for government grants received by business entities.

Government 59

Government accounting standards accountant Account 59

CPA Practice

FEBRUARY 1, 2023

As expected, the Financial Accounting Standard Board (FASB) voted on Wednesday to issue an exposure draft of a new accounting standard that would require companies to measure cryptocurrency assets, like Bitcoin and Ethereum, using fair value accounting, with gains and losses recorded in current period comprehensive income.

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Cherry Bekaert

JUNE 25, 2024

Among those regulations are the Cost Accounting Standards (CAS), which are one of the most common challenges faced by emerging government contractors. Compliance with CAS is a contractual obligation, and failure to adhere to these standards can result in financial penalties, contract adjustments and contract termination.

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CPA Practice

JUNE 30, 2023

The accounting standard was developed jointly with the U.S. Financial Accounting Standards Board and came into effect in 2018. A PIR of an Accounting Standard does not automatically lead to standard-setting.

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SMBAccountant

JANUARY 4, 2023

New rules are going into effect for lease accounting which may change how small businesses who follow Generally Accepted Accounting Principles (GAAP) think about and reporting leases. The new lease accounting rules seek to make the impact ofleases more transparent within financial statements. Permalink

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CPA Practice

MARCH 31, 2023

The Financial Accounting Standards Advisory Council ( FASAC ) held its quarterly meeting on Tuesday, March 7, 2023. Some Council members, including preparers and practitioners, noted that the complexity of applying derivative accounting to these arrangements has deterred companies from entering into these types of transactions.

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CPA Practice

APRIL 18, 2023

Representatives of the Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) held a meeting on April 17 in Norwalk, CT. The FASB and the ASBJ plan to continue to exchange views. The next meeting is planned in the second half of 2023 in Tokyo.

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Accounting Today

MAY 21, 2024

The Governmental Accounting Standards Board is getting ready to roll out new rules and proposals for state and local governments, including improvements to the financial reporting model, classification of capital assets, and measurement of infrastructure assets.

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CPA Practice

OCTOBER 31, 2024

The Financial Accounting Standards Board (FASB) has published a proposed Accounting Standards Update (ASU) intended to improve the requirements for identifying the accounting acquirer in FASB Accounting Standards Codification Topic 805, Business Combinations.

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CPA Practice

MAY 24, 2024

The Board of Trustees of the Financial Accounting Foundation (FAF) today announced that Hillary H. Salo, whose five-year term on the Financial Accounting Standards Board (FASB) begins July 1, 2024, will serve as the board’s vice chair upon the start of her term. In this capacity, she will succeed current FASB vice chair James L.

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CPA Practice

JUNE 29, 2023

The accounting standard was developed jointly with the U.S. Financial Accounting Standards Board and came into effect in 2018. A PIR of an Accounting Standard does not automatically lead to standard-setting.

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accounting standards accountant Account accounted 52

Katz,Sapper&Miller

AUGUST 31, 2020

The Government Accounting Standards Board (GASB) regularly issues GASB Statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S. Below are select statements that were recently issued.

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Accounting Today

OCTOBER 10, 2024

The Governmental Accounting Standards Board is considering changes in the financial reporting rules for infrastructure assets and is looking for feedback.

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CPA Practice

FEBRUARY 28, 2023

The Financial Accounting Foundation (FAF) has launched its free, enhanced online access to the Accounting Standards Codification and the Governmental Accounting Research System (GARS), implementing a change announced last month. governmental entities.

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Accounting Today

MARCH 22, 2024

The Financial Accounting Standards Board decided to pursue targeted improvements to its rules for accounting for and disclosing software costs, instead of a single overarching model.

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CPA Practice

JULY 23, 2024

Investors, accounting firms, and other stakeholders have until Oct. 21 to provide comments on a new proposed Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board (FASB) on Tuesday that aims to clarify rules on derivative accounting. Issue 1: Derivatives scope refinements.

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CPA Practice

NOVEMBER 19, 2024

A new proposal that would establish authoritative guidance on the accounting for government grants received by businesses was issued by the Financial Accounting Standards Board (FASB) on Nov. When applying that guidance by analogy, business entities may not apply all of that guidance,” the FASB said in its proposal.

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CPA Practice

SEPTEMBER 25, 2024

The Financial Accounting Standards Board (FASB) released an exposure draft on Sept. 25 on a proposal that would clarify parts of its current guidance on hedge accounting and address several incremental hedge accounting issues arising from the global reference rate reform initiative.

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accountant Account accounted accounting standards 111

CPA Practice

FEBRUARY 3, 2023

As expected, the Financial Accounting Standard Board (FASB) voted on Wednesday to issue an exposure draft of a new accounting standard that would require companies to measure cryptocurrency assets, like Bitcoin and Ethereum, using fair value accounting, with gains and losses recorded in current period comprehensive income.

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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.

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accounting standards accountant Account accounted 52

ThomsonReuters

FEBRUARY 8, 2024

Jump to: What are the main accounting assumptions? Going concern assumption: A closer look How do common accounting assumptions relate to GAAP? Staying up to date with GAAP standards Running an efficient and successful business isn’t easy. What are the main accounting assumptions? Let’s take a closer look at each one.

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LSLCPAs

DECEMBER 17, 2021

The Financial Accounting Standards Board FASB rejected the Pennsylvania Institute of CPA’s (PICPA) request for a two-year extension of the lease accounting standard’s due date. The lease standard takes effect for nonpublic entities for fiscal years beginning after Dec.

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Cherry Bekaert

JUNE 28, 2023

This webinar provides an overview of the ASC 326 Financial Instruments – Credit Losses (CECL) accounting standard. Our speakers discuss the key changes from the legacy incurred loss model, what instruments are in scope under the new standard, and areas companies should focus on during implementation.

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Accounting Today

OCTOBER 11, 2023

The changes aim to make the ESG rules more relevant to a global audience.

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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. These should be integrated in any federal contractors accounting policies.

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Accounting Today

NOVEMBER 13, 2024

The Financial Accounting Standards Board issued a proposed accounting standards update that aims to improve the navigability of the disclosures that need to be provided for interim reporting periods.

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Katz,Sapper&Miller

MAY 12, 2020

The Governmental Accounting Standards Board (GASB) regularly issues GASB statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S.

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SMBAccountant

NOVEMBER 21, 2022

Managers want to hand off their accounting and let it happen in its own vacuum. Unfortunately, this isn’t quite how accounting functions. Accounting requires input from all levels of the company. The accountant didn’t know, so they didn’t include that cash in the projection. In it, the role of management was emphasized.

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