PYMNTS

DECEMBER 12, 2019

Securities and Exchange Commission is turning its attention to a lack of transparency within corporates’ investor disclosures as more businesses use supply chain financing. Reports in Bloomberg Tax this week said SEC Corporation Finance Deputy Chief Accountant Lindsay McCord spoke Tuesday (Dec.

Finance 58

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CPA Practice

NOVEMBER 25, 2024

The Board of Trustees of the Financial Accounting Foundation (FAF) has announced the appointment of Robert W. Scott to a five-year term on the Governmental Accounting Standards Board (GASB). Scott currently serves as the director of finance and administration for the city of Brookfield, Wisconsin.

Wisconsin 52

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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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Cherry Bekaert

AUGUST 31, 2023

Contributors: Jack McKee, Manager, Government & Public Sector With staffing challenges and exceedingly more complex Government Accounting Standards Board (GASB) requirements , many government and public sector organizations are finding it difficult to focus on their core mission and deliver results for constituents.

Government 98

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ThomsonReuters

NOVEMBER 8, 2022

Who needs to know : Small, midsize and large finance and accounting professionals that prepare or audit financial statements in compliance with US GAAP. Want more clarity around how to account for revenue-generating contracts in business combinations? Accounting Standards Update (ASU) No.

accounting and finance 59

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Basis 365

FEBRUARY 20, 2023

A balance sheet is a financial statement that shows your business's assets, liabilities, and equity at a specific time. It's one of the most important financial documents to help you make informed decisions, plan for the future, and secure financing. What is a Balance Sheet?

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Basis 365

JUNE 29, 2023

When managing your company's finances, several roles come into play. A bookkeeper is responsible for maintaining accurate and up-to-date financial records for a business. They record transactions, reconcile accounts, and generate financial statements. But do you need both or can you get by with just one?

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Cherry Bekaert

MARCH 6, 2024

Offering Simple Solutions to Complex Requirements Growing businesses are challenged when complying with financial statement tax reporting requirements. At Cherry Bekaert, we tailor our solution to your unique situation in order to best support your finance team.

Tax 52

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Cherry Bekaert

JUNE 20, 2024

More than 20 years after issuing Statement No. 103, Financial Reporting Model Improvements (GASB 103). GASB 103 has eliminated the option to present the budgetary comparison as a basic financial statement.

financial statements 64

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PYMNTS

OCTOBER 25, 2019

Top accountancy firms are asking the Financial Accounting Standards Board (FASB) to clarify how corporates should report on supplier finance programs that are in place, according to Compliance Week reports on Friday (Oct. As the letter notes, U.S.

Finance 40

Finance accounting and finance financial statements top accounting firms 40

ThomsonReuters

APRIL 18, 2023

Financial statements contain critical information about a company’s financial position, cash flows, and results of operations. They paint a picture of the company’s financial position and business performance and help management, investors, and other stakeholders make more informed economic decisions.

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ThomsonReuters

APRIL 5, 2024

Furthermore, interim tax reporting contributes to the accuracy and reliability of financial statements. By ensuring that interim tax provisions are properly recorded and reported, companies can enhance the credibility and transparency of their financial information.

Tax 68

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Cherry Bekaert

JULY 29, 2024

The Financial Accounting Standards Board (FASB) did not issue any new Accounting Standard Updates (ASUs) in the second quarter of 2024, while the Government Accounting Standards Board (GASB) issued one new GASB Statement. The latest issue of the Rundown features a summary of this new standard.

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Withum

AUGUST 19, 2024

The Government Accounting Standards Board (GASB) recently issued Statement Number 102, Certain Risk Disclosures (“GASB 102”). GASB 102 requires state and local governments to disclose material concentrations and constraints in the notes of the financial statements.

financial statements 52

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Cherry Bekaert

OCTOBER 25, 2023

After a period of relative inactivity, standard setters have issued four new standards. The Financial Accounting Standards Board (FASB) has issued Accounting Standard Update (ASU) 2023-03 through ASU 2023-06. According to SAB 120, entities should consider whether observable market prices (e.g.,

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Accounting Insight

MAY 20, 2024

As a cloud-based application, it provides seamless assistance in preparing, reviewing, and delivering professionally formatted and accurate financial statements. Caseware Financials automates financial statement preparation through a tailored checklist, importing and mapping data directly from Excel, CSV, and accounting packages.

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PYMNTS

MARCH 6, 2019

Corporate accounting standards are changing, with the Financial Accounting Standards Board adopting new standards in ways companies report on leases, hedging and other financial activity. In the U.K., In the U.S., But researchers warn that corporates continue to find ways to hide the bad news.

Finance 55

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inDinero Accounting

JUNE 29, 2023

Generally Accepted Accounting Principles (GAAP) are a set of accounting principles, standards, and procedures that define accepted accounting practice at a particular time. Its purpose is to ensure that financial statements provide an accurate and transparent view of the company’s financial condition and operations.

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CPA Practice

SEPTEMBER 1, 2023

While it is exciting that organizations are stepping up to pursue responsible practices en masse , the reality is that the onus to comply with related reporting requirements is on accounting and finance professionals. Achieving a successful ESG reporting framework often boils down to a well-defined system of controls and procedures.

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ThomsonReuters

OCTOBER 18, 2024

← Blog home In the industries of business and finance, statutory reporting is a cornerstone of transparency and compliance. Statutory reporting is a critical process for multinational corporations, involving the preparation and submission of financial statements to comply with legal obligations across various jurisdictions.

Non-Profits 52

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Cherry Bekaert

JULY 30, 2024

When performing an IPO readiness assessment, we often start with the accounting basics, including analyzing the company’s policies and procedures, chart of accounts structure, most recent draft of financial statements, and trial balance. It is worth taking the time to get yours right.

financial statements 64

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ThomsonReuters

FEBRUARY 1, 2024

What are the GAAP accounting rules? Established by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB) , GAAP is a set of standardized accounting rules, requirements, and practices to guide how financial statements are prepared and presented.

Non-Profits 52

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Withum

JANUARY 27, 2023

If you have not already taken steps to implement the new lease accounting standard ( Leases (Topic 842) or “ASC 842”), now is the time to do so. ASC 842 significantly changes the presentation of leases for leasees on the financial statements and expands related footnote disclosures.

financial statements 64

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Cherry Bekaert

JANUARY 29, 2024

The Financial Accounting Standards Board (FASB) issued nine Accounting Standard Updates (ASUs), and the Government Accounting Standards Board (GASB) issued only one new GASB Statement in 2023. For summaries of standards issued in the first three quarters, view our previous rundowns here.

income tax 95

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Withum

DECEMBER 19, 2023

The new guidance issued in Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-13 is effective for fiscal years beginning after December 31, 2022 for these companies.

accounting standards 64

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Menzies

JANUARY 7, 2024

We help you to navigate through annual reporting requirements and explain why adherence to the Financial Reporting Standard (FRS 102) goes beyond the basics outlined by the FCA. We provide audit, accounts preparation and corporate finance services to help our clients with compliance and operational efficiencies.

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ThomsonReuters

DECEMBER 6, 2022

Shedding light on the tie between ESG matters and their direct or indirect impact on a company’s financial statements, the Financial Accounting Standard Board (FASB) published in 2021 the Intersection of Environmental, Social, and Governance Matters With Financial Accounting Standards.

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Withum

JUNE 14, 2023

Right now, there is probably no more frequently searched accounting topic by accounting and finance personnel in Fintech than CECL. pronounced SEE-sil) CECL (Current Expected Credit Loss) is a new accounting standard that affects how companies account for credit losses. What is CECL, you ask?

accounting standards 59

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inDinero Accounting

JUNE 24, 2021

In this article, you’ll find the essential information to 38 FAQs about business financial statements and links to further reading. Financial Statement FAQs. What is a business financial statement? The business financial statement defined. Who uses business financial statements?

Non-Profits 75

Non-Profits financial statements accounts payable accounting and finance 75

MineralTree

OCTOBER 5, 2023

What Is the Month-End Close Process in Finance? The month-end close process, often referred to as the financial close, is a crucial accounting procedure that organizations undertake at the end of each period, typically on a monthly basis.

AP Automation 76

AP Automation accounts payable AP Processes accounting and finance 76

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.

accounted 105

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Cherry Bekaert

JUNE 9, 2023

The use of the technology can also provide access to new sources of capital and support overall marketplace innovation, such as the emergence of decentralized finance (DeFi) technology. tax return and financial statement reporting. How Cherry Bekaert Can Help?

accounted 98

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Withum

JANUARY 29, 2024

The current environment in the financial markets compels the consideration of low tide in the valuation of private equity and venture capital investments as the funding landscape has experienced a shift in financing conditions and outlook over the past year. and the realization of a decrease from peak value in 2021 of 73%. [3]

accounting and finance 64

accounting and finance accounting principles accounting standards Finance 64

Cherry Bekaert

MAY 22, 2023

Over the last year, governmental financial statement preparers’ attention has shifted from Leases to SBITAs, leaving some to wonder about Public-Private Partnerships (P3s). The services provided may include designing, constructing, financing, maintaining or operating a nonfinancial asset.

Hospitality 98

Hospitality Construction accounting and finance Government 98

Withum

JUNE 14, 2023

Companies will have to disclose specific ESG information that regulators and accounting standards require. ESG reporting standards are transitioning from the wild west to ridged government and accounting-imposed standards. Below is a summary of some sustainability reporting standards companies will be subject to.

international accounting standards 59

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KROST

APRIL 12, 2022

Securing credit, managing employees, and staying involved in the day-to-day running of the business creates a constant set of obstacles to be addressed by the business owner, leaving very little time for a life outside of work, let alone applying the latest accepted accounting principles. If you are tired of keeping up with new standards.

accrual accounting 52

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inDinero Accounting

APRIL 30, 2021

Not-for-profit organizations have a fiduciary responsibility to show their donors what their finances look like at the end of each fiscal year. Statement of Cash Flows is similar to a for-profit report on cash flow and is meant to show how cash circulates in three main areas: investing, financing, and operating.

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