Cherry Bekaert

JUNE 25, 2024

Among those regulations are the Cost Accounting Standards (CAS), which are one of the most common challenges faced by emerging government contractors. Compliance with CAS is a contractual obligation, and failure to adhere to these standards can result in financial penalties, contract adjustments and contract termination.

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CPA Practice

JUNE 2, 2023

Therefore, filing for exceptions on financial statements could bring your clients oversight ramifications and put their bank relationships at risk. If your clients do need GAAP exceptions for this year’s financial statements, it’s best to first ensure the bank is aware and has approved their use.

accounting standards 52

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CPA Practice

NOVEMBER 13, 2024

The Financial Accounting Standards Board (FASB) is looking to provide investors and other stakeholders some clarity on the current interim reporting requirements, specifically when that guidance is applicable and which disclosures are required in interim reporting periods.

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CPA Practice

NOVEMBER 25, 2024

The Governmental Accounting Standards Board (GASB) issued two exposure drafts on Monday: one on a proposed standard on subsequent events and the other a proposed update to an implementation guide in the form of questions and answers intended to clarify, explain, or elaborate on certain GASB pronouncements. 21, 2025.

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Accounting Today

NOVEMBER 25, 2024

The Governmental Accounting Standards Board issued an exposure draft on how to account for transactions that occur after the date of the financial statements.

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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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CPA Practice

NOVEMBER 4, 2024

A new standard requiring public companies to disclose, in interim and annual reporting periods, additional information about certain expenses in the notes to financial statements was finalized by the Financial Accounting Standards Board (FASB) on Nov.

financial statements 116

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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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CPA Practice

NOVEMBER 25, 2024

The Financial Accounting Standards Board (FASB) has issued the report on Post-Implementation Review: Revenue from Contracts with Customers (Topic 606). Jones and Technical Director Jackson M.

accounting standards 111

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Acterys

OCTOBER 20, 2024

Financial reporting provides a retrospective view of your company’s financial status. It focuses on presenting financial data clearly and in accordance with accounting standards. Despite their differences, both functions are critical to achieving accurate financial planning.

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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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CPA Practice

NOVEMBER 19, 2024

A new proposal that would establish authoritative guidance on the accounting for government grants received by businesses was issued by the Financial Accounting Standards Board (FASB) on Nov.

Government 115

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CPA Practice

OCTOBER 17, 2024

The Governmental Accounting Standards Board ( GASB ) has issued guidance that establishes requirements for certain types of capital assets to be disclosed separately for purposes of note disclosures. GASB Statement No. This is designed to allow users to make informed decisions about these and to evaluate accountability.

financial statements 128

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PYMNTS

SEPTEMBER 26, 2019

The Securities and Exchange Board of India will reportedly give non-bank financial companies (NBFCs) two years to adopt and implement changes to accounting standards, the Financial Express reported Wednesday (Sept. Individual Shareholders Society, said in an interview with The Wall Street Journal earlier this year.

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Going Concern

JULY 23, 2024

Exactly what they said was: The PCAOB’s standard-setting agenda includes a research project to assess whether there is a need for guidance, changes to PCAOB standards, or other regulatory actions in light of the increased use of technology-based tools in the preparation and subsequent audit of financial statements.

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CPA Practice

NOVEMBER 14, 2024

The Financial Accounting Standards Board (FASB) is calling on academics, accountants, auditors, lenders, financial statement preparers, and other stakeholders to provide their views on financial key performance indicators (KPIs). The FASB on Nov.

financial statements 52

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Accounting Today

JULY 7, 2022

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PYMNTS

OCTOBER 9, 2018

Banks and businesses alike are heading toward the 11th hour of changes in accounting standards, which will have a major impact on how companies report financial metrics and performance. Experts say the move will not go unnoticed when the accounting standards begin to take effect for public companies in 2021.

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ThomsonReuters

FEBRUARY 8, 2024

Therefore, when serving business clients, it is important that accounting professionals have the right framework to ensure that proper financial reporting procedures are in place to help with accounting assumptions. What are the main accounting assumptions? Let’s take a closer look at each one. dollars, euros, etc.)

accounted 96

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Withum

MARCH 1, 2024

In November 2023, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) to improve disclosures related to reportable segments. Segment information allows users of the financial statements to better understand the activities that comprise a company’s business.

Non-Profits 80

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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.

income tax 110

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SMBAccountant

JANUARY 4, 2023

The new lease accounting rules seek to make the impact ofleases more transparent within financial statements. 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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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 111

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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.

accounting concepts 104

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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.

accounted 69

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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

JULY 23, 2024

Investors, accounting firms, and other stakeholders have until Oct. 21 to provide comments on a new proposed Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board (FASB) on Tuesday that aims to clarify rules on derivative accounting.

accounted 122

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CPA Practice

JUNE 24, 2024

Request for Information (RFI) Form: To formally request additional information or clarification from clients on specific financial matters. Internal Audit Checklist: For conducting audits within the firm to ensure compliance with accounting standards and regulations.

accounting firms 124

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Withum

JANUARY 12, 2024

Obtaining a PPA is important for several reasons, particularly the following: Accurate Financial Reporting PPAs ensure that the financial statements of the acquiring company accurately reflect the fair value of the assets and liabilities acquired in the business combination.

Real Estate 75

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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.

accounting principles 110

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CPA Practice

JANUARY 11, 2024

The Governmental Accounting Standards Board has issued new guidance that requires state and local governments to disclose information about certain risks. GASB Statement No. This would allow users to make informed decisions about these and to evaluate accountability. Earlier application is encouraged.

financial statements 105

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Accounting Today

JULY 28, 2022

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financial statements 98

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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.

accounting standards 125

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Accounting Today

NOVEMBER 4, 2024

In response to demand from investors, public companies will be required to disclose more information about certain expenses in the notes to financial statements.

financial statements 111

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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.

accounting principles 104

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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. As one of the six new NAC members, Jeanne will serve a four-year term ending on December 31, 2027.

Missouri 98

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Cherry Bekaert

FEBRUARY 12, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) issued final guidance concerning income tax disclosures, labeled Accounting Standards Update No. Early adoption is permissible for unaudited annual financial statements. 2023-09 (ASU 2023-09).

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