Wendy Tietz

OCTOBER 22, 2022

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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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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Withum

AUGUST 31, 2022

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.

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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. Securities and Exchange Commission (SEC) in Washington, D.C.

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Accounting Today

DECEMBER 2, 2024

John Auchincloss will retire in September 2025 from the FAF. The search for his successor will begin immediately.

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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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inDinero Tax Tips

JANUARY 1, 2025

When youre building a tech startup, accounting probably doesnt feel very exciting. But, as a Y Combinator funded company and referral partner, weve noticed a pattern: promising startups regularly fail because of poor financial management. Is Your Business Financially Ready to Raise Funding? Accrual accounting is a bit trickier.

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Accounting Today

JANUARY 3, 2024

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

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CPA Practice

NOVEMBER 25, 2024

The Financial Accounting Standards Board (FASB) has issued the report on Post-Implementation Review: Revenue from Contracts with Customers (Topic 606).

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Going Concern

NOVEMBER 10, 2022

Making him an excellent figurehead for accounting, really. If you are interested in accounting history (of course you are), we recommend Jacob Soll’s The Reckoning: Financial Accountability and the Rise and Fall of Nations. Happy International Accounting Day 2022! The post Happy International Accounting Day!

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Wendy Tietz

NOVEMBER 8, 2024

The first episode of Accounting Explained has now been released. Background: Professor Jill Mitchell and I have teamed up to create a series of podcasts for introductory financial accounting. In this episode, we discuss the features of a corporation, including the advantages and disadvantages. Our podcast […]

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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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Going Concern

FEBRUARY 27, 2024

If you’re a high school student and future accounting major hoping to receive your undergraduate education from a friendly chatbot, we’re sorry to say that won’t be happening any time soon. There were ten questions for the Introductory Financial Accounting and 10 for the Advanced Financial Accounting course units.

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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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Withum

SEPTEMBER 6, 2022

The combination of transactional volume and complexity and the need for enhanced financial reporting can at first be a difficult process to digest. The accounting department’s staffing and sophistication now require an investment to accommodate these challenges. Scaling the Accounting Department. Centralized Accounting.

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CPA Practice

DECEMBER 20, 2024

The Financial Accounting Standards Board (FASB) has published a proposed Accounting Standards Update (ASU) intended to improve the financial accounting for and disclosure of financial activities related to environmental credits and environmental credit obligations.

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Withum

DECEMBER 14, 2023

On December 13, 2023, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) 2023-08 “Accounting for and Disclosure of Crypto Assets”. Contact Us The post Accounting Standards Update 2023-08: FASB’s New Crypto Accounting Guidance appeared first on Withum.

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PANALITIX

MAY 31, 2021

Specializing an Accounting Business: . Accountants are increasingly specializing in response to the commoditization of ‘traditional’ accounting services. Accountants are increasingly specializing in response to the commoditization of ‘traditional’ accounting services. Management accounting. Cost Accounting.

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SMBAccountant

APRIL 2, 2024

Adhering to these rules ensures transparency, accountability, and responsible use of taxpayer dollars. By observing best practices in budgeting, organizations can demonstrate financial accountability, meet grant objectives, and build credibility with funding agencies, ultimately leading to sustainable success in grant management.

Government 130

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Wendy Tietz

SEPTEMBER 7, 2024

Anyways, I created a few Wordles for early in the Introductory Financial Accounting course. These Wordles use words that are common to most, if not all, first chapters in introductory financial accounting textbooks. If you follow my blog, you know that I am a game enthusiast and that extends into my teaching.

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CPA Practice

APRIL 25, 2023

Academics from 187 universities wanted to know how an AI chatbot would do on accounting exams. He ended up getting a staggering 327 co-authors from 186 educational institutions in 14 countries participating in the research, contributing 25,181 classroom accounting exam questions.

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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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AccountingDepartment

JULY 4, 2024

One crucial area that requires meticulous attention is accounting. Proper accounting practices are the backbone of financial stability and growth, yet many small to medium-sized businesses (SMBs) often overlook them. Growing a business can be an exhilarating experience, but it comes with its fair share of challenges.

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GrowthForceBlog

JANUARY 16, 2025

While it isn't necessary to share everything - after all, some numbers are private and should remain private - communicating your company's financial goals and sharing performance results can create a culture of transparency that improves efficiency, productivity.

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Going Concern

FEBRUARY 13, 2025

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!

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RogerRossmeisl

APRIL 24, 2023

Crooks find opportunities As with email, social media messages can trick users into clicking links and providing sensitive information, such as their usernames, passwords, Social Security numbers and financial account numbers.

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ThomsonReuters

JULY 6, 2023

If you’re a leader within an accounting firm, you’ve likely heard of advisory services and their lucrative impact. This trend is picking up pace as traditional accounting firms seek more strategic and meaningful work that goes beyond just tax returns. But what accounting advisory services should your firm offer?

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CPA Practice

MARCH 24, 2023

The Financial Accounting Standards Board (FASB) on Thursday published an exposure draft of its proposed accounting rules on how companies should report certain types of crypto assets and digital currencies. Bitcoin and Ethereum would fall within those guidelines, but nonfungible tokens (NFTs) and certain stablecoins would not.

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MarkFriedlich

MARCH 30, 2020

The CARES Act (the “Act”) provides temporary relief from FASB Accounting Standards Update (ASU) No. 2016-13, Financial Instruments —Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The post The CARES Act Provides Temporary Relief from CECL Standard appeared first on Tax & Accounting Blog.

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Going Concern

APRIL 24, 2023

As aspiring lawyers everywhere learned with horror that GPT-4 is capable of passing the bar exam (in the 90th percentile of test-takers, no less) a whole bunch of academics were not-so-quietly putting GPT-3 to the test on accounting. We also discuss implications for accounting education and research. TL;DR Not great, Bob.

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CPA Practice

MARCH 1, 2024

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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PYMNTS

DECEMBER 16, 2020

Ternio , a global FinTech platform, has integrated with Plaid , a financial data company, to help Ternio BlockCard bank accounts access faster and more secure connections to financial accounts, according to a press release. dollars between all of their accounts.”. Earlier this year, Ternio started to allow U.S.

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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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Accounting Today

MAY 28, 2024

The Financial Accounting Foundation announced Hillary Salo as the next vice chair of the Financial Accounting Standards Board.

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Cherry Bekaert

OCTOBER 5, 2023

Accounting , fondly known as the ‘language of business,’ tells the story of how a business is performing. 1) Fast-forward to present day and the fundamental concepts performed by modern bookkeepers and accountants remain, but functionality and performance look vastly different in the age of all things digital.

Real Estate 115

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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? Accounting assumptions, along with accounting principles and concepts, provide professionals with the necessary framework for preparing financial statements.

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Cherry Bekaert

SEPTEMBER 22, 2023

Contributors: Graham Michitsch, Senior Manager On September 6, 2023, the Financial Accounting Standards Board voted on cryptocurrency accounting and set in place a new rule that business must use fair-value accounting for certain crypto assets that meet the predefined criteria, such as bitcoin.

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