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 update addressed two issues: Terms and Conditions and Leasehold Improvements.

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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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CPA Practice

MAY 1, 2024

The Board of Trustees of the Financial Accounting Foundation ( FAF ) is seeking nominations for new members to join the Financial Accounting Standards Advisory Council ( FASAC ) for an initial one-year term beginning January 1, 2025. The FASAC is the primary advisory body to the Financial Accounting Standards Board ( FASB ).

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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

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

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

AUGUST 22, 2024

Contributor: John Ford In June 2024, the Cost Accounting Standards Board (CASB) published three significant actions in the Federal Register. Contact Us The post Recent Cost Accounting Standards Board Proposed Rules appeared first on Cherry Bekaert.

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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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MarkFriedlich

MARCH 30, 2020

The International Accounting Standards Board (IASB) has released the document, IFRS 9 and COVID-19—Accounting for Expected Credit Losses Applying IFRS 9 Financial Instruments in the Light of Current Uncertainty Resulting from the COVID-19 Pandemic.

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SMBAccountant

JANUARY 4, 2023

Sources: Lease Query: Five Tips for Small Business Lease Accounting CPA Hall Talk: How to Understand the New Lease Accounting Standard HWA Alliance of CPA Firms, Inc.:

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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. What exactly is GAAP?

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Government accounting principles accountant Account 219

RogerRossmeisl

APRIL 10, 2023

Generally Accepted Accounting Principles (GAAP), fair value is “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” This definition is found in Accounting Standards Codification (ASC) Topic 820, Fair Value Measurement.

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MarkFriedlich

MARCH 30, 2020

The CARES Act (the “Act”) provides temporary relief from FASB Accounting Standards Update (ASU) No. Specifically, as worded in the Act, “no insured depository institution, bank holding company, or any affiliate thereof shall be required to comply with the Financial Accounting […].

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Accounting Today

JULY 24, 2024

The Financial Accounting Standards Board issued a proposed accounting standards update to request public comments on possible changes to two of its standards.

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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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Accounting Today

DECEMBER 13, 2023

The Financial Accounting Standards Board released its long-awaited accounting standards update to improve the accounting for and disclosure of certain cryptoassets.

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Accounting Today

NOVEMBER 22, 2024

The Governmental Accounting Standards Board is focusing on advancing its digital financial reporting taxonomy.

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Accounting Today

JUNE 6, 2024

Officials discussed some of the latest accounting standards and advice for auditing firms during a USC and FEI conference.

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Accounting Today

DECEMBER 14, 2023

The Financial Accounting Standards Board issued an accounting standards update Thursday aimed at improving income tax disclosures from companies.

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Accounting Today

SEPTEMBER 6, 2023

The Financial Accounting Standards Board voted to adopt its eagerly awaited standard for cryptocurrency like Bitcoin held by companies.

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Accounting Today

OCTOBER 10, 2023

The Financial Accounting Standards Board is incorporating some of the Securities and Exchange Commission's disclosure requirements into its Accounting Standards Codification.

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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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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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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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Accounting Today

DECEMBER 28, 2023

The Financial Accounting Standards Board has decided not to add several projects to its technical agenda, including one on commodities, despite requests.

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Accounting Today

JUNE 3, 2024

The Governmental Accounting Standards Board released a post-implementation review report on its pension standards and found they mostly accomplished their goals.

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Accounting Today

MAY 28, 2024

The Governmental Accounting Standards Board released an updated standard to improve some of the main components of the financial reporting model for state and local governments.

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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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Accounting Today

OCTOBER 21, 2024

The Financial Accounting Standards Board has decided to tweak some of its standards related to contract assets and liabilities for construction contractors.

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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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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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Accounting Today

AUGUST 30, 2023

The Financial Accounting Standards Board voted to require companies to tell the public more about the taxes they pay, starting as early as 2025.

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Accounting Today

NOVEMBER 12, 2024

The International Accounting Standards Board wants feedback on targeted improvements it's proposing to make to improve the requirements for recognizing and measuring provisions on corporate balance sheets.

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SMBAccountant

AUGUST 12, 2020

When working as a government contractor, these processes and policies need to be written, reviewed, and updated regularly to ensure compliance with the company’s own requirements, and the accounting standards demanded of contractors spending tax dollars.

Government 190

Government accounting principles accountant Account 190

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 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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Accounting Today

JANUARY 23, 2024

The Financial Accounting Foundation has overhauled the website for the Financial Accounting Standards Board, with new websites in the works for the Governmental Accounting Standards Board and the FAF itself in the weeks ahead.

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