Accounting Today

JULY 12, 2024

The Financial Accounting Standards Board released a new chapter of its Conceptual Framework on the measurement of items recognized in financial statements, while also drawing that project to a close.

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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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Going Concern

JANUARY 3, 2025

Psst, take our 2025 Predictions for the Accounting Profession survey. Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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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”. Entities are able to early adopt the ASU for both interim and annual financial statements that have not yet been issued or made available for issuance.

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Accounting Today

AUGUST 30, 2023

The Financial Accounting Standards Board released another chapter of its conceptual framework related to the recognition and derecognition of an item in financial statements.

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Withum

JANUARY 29, 2025

Introductory Course in Financial Accounting at Baruch College This Friday, I will start a new semester teaching the introductory course in financial accounting at Baruch College, my alma mater. About 60% of the students are split between accounting and finance majors. They are important.

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Wendy Tietz

APRIL 28, 2022

Looking for a quick data analytics exercise for financial statement analysis in an introductory accounting class? You can give your students the link for this financial statement analysis dashboard and then ask a series of questions.

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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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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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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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Wendy Tietz

AUGUST 1, 2022

To follow are Chipotle’s four basic financial statements for its most recent year, the year ending December 31, 2021. Please note that all statements have been adapted and condensed for educational use and should not be used […]. Chipotle Mexican Grill, Inc.

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Anders CPA

JULY 6, 2022

One of those being the accounting involved in combining businesses. To help simplify purchase accounting for business combinations involving private companies, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-18 back in December 2014.

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CPA Practice

JULY 15, 2024

The Financial Accounting Standards Board (FASB) issued a new chapter of its Conceptual Framework related to the measurement of items recognized in financial statements on July 12, marking the end of this multiyear project. The new chapter becomes Chapter 6 of FASB Concepts Statement No.

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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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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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Wendy Tietz

DECEMBER 3, 2022

Below are links to a crossword puzzle to review financial statement analysis concepts in financial accounting – and links to a word search puzzle to review the same concepts.

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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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CPA Practice

DECEMBER 22, 2023

The Financial Accounting Standards Board has issued a proposed new chapter of its Conceptual Framework related to the measurement of items recognized in financial statements. A Statement of Financial Accounting Concepts is nonauthoritative and does not establish or change generally accepted accounting principles.

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Shay CPA

FEBRUARY 19, 2025

Enter: a financial audit. This tool gives you a way to validate that your company is following proper accounting practices and that your books are accurate. based companies, that means adhering to generally accepted accounting principles (GAAP). companies need to adhere to Accounting Standards Codification (ASC) 842.

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CPA Practice

JULY 24, 2024

Today’s CFOs, however, are dealing with a host of additional pain points, including a shortage of skilled accounting professionals. Fortunately, there are external accounting resource options available to CFOs to adapt to the emerging issues facing the marketplace and to address their specific accounting and financial reporting needs.

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CPA Practice

DECEMBER 14, 2023

The Financial Accounting Standards Board ( FASB ) has issued an Accounting Standards Update (ASU) that addresses requests for improved income tax disclosures from investors, lenders, creditors, and other allocators of capital (collectively, “investors”) that use the financial statements to make capital allocation decisions.

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Withum

MAY 28, 2024

The Financial Accounting Standards Board (FASB) has issued two new accounting standards updates applicable to business combination accounting. It is expected to provide more useful information to investors and other financial statement users. A joint venture provides relevant disclosures.

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Basis 365

JANUARY 14, 2025

It demands a sound financial business model and reliable information to guide decision-making. At Basis 365, we provide outsourced accounting and bookkeeping services, acting as the accounting department for our customers. This will require collaboration with multiple disciplines including your accounting, sales, and operations.

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Withum

NOVEMBER 8, 2022

Has the Financial Accounting Standards Board (FASB) just saved us from unfavorable accounting? The post Crypto Currency Accounting Changes for Not-for-Profits appeared first on Withum. On October 12, 2022, the FASB issued a board ruling that certain crypto assets should be measured at fair value. Contact Us.

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Wendy Tietz

SEPTEMBER 9, 2024

In May of 2024, Apple announced a share buyback authorization of $110 billion, which is the largest in share repurchase authorization in U.S. Apple may not buy back the full $110 billion of its stock; the board’s authorization is simply the maximum amount of stock that can be repurchased. However, based on Apple’s history, […]

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CPA Practice

FEBRUARY 21, 2023

The CAMT imposes a 15% minimum tax on the adjusted financial statement income of large corporations for taxable years beginning in 2023. Large corporations, including insurance companies, with average annual adjusted financial statement income exceeding $1 billion are the taxpayers generally affected by the CAMT, the IRS said.

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CPA Practice

MARCH 16, 2023

The Financial Accounting Standards Board released a proposed Accounting Standards Update (ASU) on Wednesday that addresses requests from investors for improved income tax disclosures.

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CPA Practice

OCTOBER 9, 2023

The Financial Accounting Standards Board ( FASB ) has issued an Accounting Standards Update (ASU) that incorporates certain U.S. Securities and Exchange Commission (SEC) disclosure requirements into the FASB Accounting Standards Codification. In SEC Release No.

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CPA Practice

NOVEMBER 27, 2023

The Financial Accounting Standards Board (FASB) on Monday approved new rules that are expected to improve disclosures about a public company’s reportable segments and provide more information to investors about a segment’s expenses. The changes outlined in Accounting Standards Update (ASU) No.

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CPA Practice

MARCH 7, 2023

The Uniform Certified Public Accountant Examination (CPA Exam) is regularly updated to reflect enhancements to accounting and auditing standards as well as tax laws and regulations — and to improve the efficiency of the exam. What do the 2024 CPA Exam changes mean for accounting practices?

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Anders CPA

JANUARY 8, 2024

Jeanne Dee, CPA/CGMA, audit and assurance partner at Anders CPAs + Advisors (Anders), has been appointed to the Financial Accounting Standards Board (FASB) Not-for-Profit Advisory Committee (NAC) effective January 1, 2024. in Accounting from the University of Missouri – St. She holds a B.S.

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Cherry Bekaert

MAY 9, 2024

The Governmental Accounting Standards Board (GASB) has issued Statement No. 102, Certain Risk Disclosures , to provide users of government financial statements with essential information about risks related to a government’s vulnerabilities due to certain concentrations or constraints.

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CPA Practice

DECEMBER 13, 2023

The Financial Accounting Standards Board ( FASB ) has published an Accounting Standards Update (ASU) intended to improve the accounting for and disclosure of certain crypto assets. Early adoption is permitted for both interim and annual financial statements that have not yet been issued (or made available for issuance).

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ThomsonReuters

DECEMBER 6, 2022

Given the increased focused on ESG, this blog marks the first in a series dedicated to ESG and its impacts on the accounting profession. What is ESG accounting? As a growing number of businesses focus on ESG-related initiatives, accounting is playing an increasingly important role. Then there’s the tax implications.

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Ryan Lazanis

JULY 13, 2022

In today’s post, I’m going to show you the very best accounting security tips (23 of them to be precise!) to keep your accounting firm safe and secure. Importance of why you must have accounting security for the safety of your business. Why is Accounting Security Important? Key Takeaways. Table of Contents.

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inDinero Accounting

JUNE 29, 2023

Accrual Accounting is a vital component of Generally Accepted Accounting Principles (GAAP). Understanding the principles of GAAP accrual accounting can be challenging and daunting; however, with the right guidance, it can be achieved. What are Generally Accepted Accounting Principles (GAAP)?

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CPA Practice

SEPTEMBER 7, 2023

The Financial Accounting Standards Board (FASB) unanimously approved new rules on Sept. I think we heard overwhelmingly from investors that allocate capital based on the use of financial statements that this will provide them better information to make their decisions.”

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