PYMNTS

JUNE 17, 2016

The Wall Street Journal reported on Thursday (June 16) that accounting rules are taking effect that would ensure that banks would have to report loans going south much earlier than had been done before, which may push reserves higher, eating into profits. The new rules have been issued by the Financial Accounting Standards Board.

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PYMNTS

JANUARY 30, 2020

New lease accounting standards are in effect for publicly traded companies in the U.S. after the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) introduced changes to the way businesses account for their outstanding leases.

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inDinero Tax Tips

FEBRUARY 22, 2023

For an executive or business owner, keeping up to date with accounting regulations is low on the to-do list. However, you should make an exception for “Accounting Standards Codification Topic 606: Revenue from Contracts with Customer” often referred to as ‘ASC 606’ or ‘FASB ASC 606’ What Is ASC 606?

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inDinero Accounting

JUNE 24, 2021

To a bank, a statement is a document that states debits and credits to a bank or other financial institution. Here’s a definition of a business financial statement. The business financial statement defined. IFRS is short for international financial reporting standards. IFRS is the global accounting standard.

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Going Concern

OCTOBER 25, 2024

accounting standard setter’s meeting last week. accounting standard setter’s meeting last week. Investors had supported the International Accounting Standards Board’s March proposal, saying it would help them assess acquisitions. The board also set a 45-day comment period for the update.

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Accounting Insight

JANUARY 7, 2025

Cloud-based LeaseJava enables audit firms, corporations and non-profit/government entities to manage their leases and ensure compliance with accounting standards such as ASC 842, IFRS 16 and GASB 87. The organization also plans to extend the solutions availability to other markets, including Canada and the UK.

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Going Concern

AUGUST 25, 2023

News US Accounting Board Looks Across the Ocean to Fill Hole in Rules [ Bloomberg Tax ] The flood of government aid that helped keep companies afloat during the coronavirus pandemic exposed a hole in US accounting rules: Businesses have no way to record the grants, loans, and tax breaks that bolstered their bottom lines.

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