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.

accounting standards 113

accounting standards Account accounted accountant 113

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.

accounting standards 116

accounting standards Account accounted accountant 116

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.

income tax 98

income tax accounting standards Tax Account 98

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.

accounting standards 110

accounting standards Account accounted accountant 110

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.

accounting standards 105

accounting standards cost accounting Government Account 105

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 ).

financial accounting 100

financial accounting accounting standards Account accounted 100

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.

accounting standards 64

accounting standards cost accounting Account accounted 64

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.

accounting standards 64

accounting standards cost accounting Account accounted 64

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.

accounting principles 244

accounting principles accounting standards CPA accounted 244

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.

international accounting standards 183

international accounting standards accounting standards Tax accounted 183

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.:

Account 246

Account accounted accountant accounting standards 246

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?

Government 219

Government accounting principles Account accounted 219

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 […].

accounting standards 160

accounting standards financial accounting Tax accounted 160

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.

accounting standards 122

accounting standards financial accounting accounted Account 122

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.

accounting standards 122

accounting standards Account accounted accountant 122

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.

accounting standards 132

accounting standards financial accounting accounted Account 132

Accounting Today

JUNE 6, 2024

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

accounting standards 130

accounting standards audit accounted Account 130

Accounting Today

DECEMBER 14, 2023

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

income tax 126

income tax Tax accounting standards financial accounting 126

Accounting Today

SEPTEMBER 6, 2023

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

accounting standards 141

accounting standards financial accounting accounted Account 141

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.

accounting standards 126

accounting standards financial accounting accounted Account 126

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.

accounting standards 115

accounting standards financial accounting accounted Account 115

Accounting Today

MAY 28, 2024

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

accounting standards 124

accounting standards financial accounting accounted Account 124

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.

accounting standards 126

accounting standards Account accounted accountant 126

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.

accounting standards 124

accounting standards accounted Account accountant 124

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.

Government 124

Government accounting standards Maine accounted 124

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.

accounting standards 124

accounting standards financial statements financial accounting accounted 124

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.

accounting standards 122

accounting standards Construction financial accounting accounted 122

Accounting Today

NOVEMBER 22, 2024

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

accounting standards 115

accounting standards accounted Account accountant 115

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.

accounting standards 126

accounting standards financial statements financial accounting accounted 126

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.

accounting standards 124

accounting standards financial accounting accounted Account 124

CPA Practice

DECEMBER 22, 2024

Nature-dependent electricity contracts help companies to secure their electricity supply from sources such as wind and solar power.

accounting standards 52

accounting standards Account accounted accountant 52

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.

Account 112

Account accounted accountant accounting standards 112

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.

income tax 140

income tax Tax accounting standards financial accounting 140

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.

international accounting standards 104

international accounting standards accounting standards accounted Account 104

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 Account accounted 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.

income tax 106

income tax Tax accounting standards financial statements 106

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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accounting standards financial accounting accounted Account 80