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 124

accounting standards Account accounted accountant 124

Cherry Bekaert

JANUARY 30, 2024

In the third episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Brendan Halloran , a Director with Cherry Bekaert Advisory, is joined by Jeffery Annessa , a Senior Manager in Cherry Bekaert’s Government Contractor Industry practice, to discuss CAS implications during mergers and acquisitions.

accounting standards 105

accounting standards cost accounting Account accounted 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 111

financial accounting accounting standards Account accounted 111

Katz,Sapper&Miller

AUGUST 31, 2020

The Government Accounting Standards Board (GASB) regularly issues GASB Statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S. Below are select statements that were recently issued.

accounting standards 98

accounting standards accounting principles Account accounted 98

Cherry Bekaert

JUNE 25, 2024

Contributors: Jeffrey Annessa , Artan Ivezaj Government contracts often come with specific requirements, conditions and regulations. Among those regulations are the Cost Accounting Standards (CAS), which are one of the most common challenges faced by emerging government contractors. What Are the 19 Standards?

accounting standards 52

accounting standards cost accounting Government Account 52

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

Government Account accounted accountant 98

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

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. Leases classified as right-of-use assets for financial accounting purposes that were formerly known as operating leases, are excluded from facilities capital items reported on this form.”

accounting standards 64

accounting standards cost accounting Account accounted 64

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

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 100

Government accounting principles Account accounted 100

CPA Practice

JUNE 19, 2023

By Girard Miller, Governing (TNS) S&P Global Ratings recently withdrew its credit ratings on 64 local governments after they failed to file financial updates on time because of staff shortages and delayed audits. So what’s changed in the supply chain for governmental accountants?

Government 98

Government Account accounted accountant 98

Accounting Today

SEPTEMBER 19, 2022

(..)

accounting standards 98

accounting standards accounted Account accountant 98

Katz,Sapper&Miller

MAY 12, 2020

The Governmental Accounting Standards Board (GASB) regularly issues GASB statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S.

accounting standards 56

accounting standards accounting principles Account accounted 56

Accounting Today

NOVEMBER 19, 2024

The Financial Accounting Standards Board issued a proposed accounting standards update to establish authoritative guidance on the accounting for government grants received by business entities.

Government 59

Government accounting standards Account accounted 59

LSLCPAs

JANUARY 22, 2025

Local governments face financial risks every day, from overreliance on a single industry to unexpected natural disasters. GASB 102: Certain Risk Disclosures is the latest initiative from the Governmental Accounting Standards Board (GASB) to bring transparency to these vulnerabilities.

cpas 52

cpas accounting standards Government accounted 52

Withum

FEBRUARY 13, 2024

Government contracting can be a lucrative venture for businesses, but it comes with a host of regulatory and financial responsibilities. One of the critical elements in managing government contracts is the Incurred Cost Proposal (ICP) submissions. What Are ICP Submissions? These costs can be directly traced to a single cost objective.

Government 80

Government audit accounting standards cost accounting 80

CPA Practice

MARCH 31, 2023

The Financial Accounting Standards Advisory Council ( FASAC ) held its quarterly meeting on Tuesday, March 7, 2023. Council members who are investors suggested that the Board consider the evolution in investors’ use of financial information in developing standard definitions for certain key financial performance indicators.

accounting standards 59

accounting standards financial accounting Account accounted 59

LSLCPAs

FEBRUARY 7, 2024

As auditors, it’s important for us to stay on top of the latest accounting standards to ensure financial accuracy, reliability and compliance. For our clients, its even more important as the real-life implementations of new accounting standards isn’t always as easy as it may seem. GASB Statement No.

Government 59

Government accounting standards auditor cpas 59

Cherry Bekaert

JUNE 6, 2024

In this episode of Cherry Bekaert’s GovCon Podcast, Brynn McNeil and Craig Hunter both Assurance Partners in Cherry Bekaert’s Government Contracting Industry practice, discuss revenue recognition for government contractors. View all Government Contracting Podcasts Questions?

Government 52

Government accounting standards accounted Account 52

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

JUNE 13, 2022

(..)

Government 98

Government accounted Account accountant 98

Katz,Sapper&Miller

JULY 9, 2019

The Governmental Accounting Standards Board (GASB) has issued Statement No.

accounting standards 45

accounting standards Account accounted accountant 45

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

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). Before entering the public sector, he was employed as an audit manager with the accounting firm of Deloitte & Touche.

Wisconsin 52

Wisconsin Colorado auditor Oregon 52

Withum

MARCH 4, 2025

The Governmental Accounting Standards Board (GASB) issued Statement No. 34: Basic Financial Statements and Managements Discussion and Analysis for State and Local Governments was issued approximately twenty-five years ago. It is the most significant update to the financial reporting model since GASB Statement No.

financial statements 52

financial statements Government accounting and finance accounting standards 52

ThomsonReuters

OCTOBER 18, 2024

Key components of statutory reports include financial statements and ESG disclosures, enhancing stakeholder trust and governance. Statutory reporting is the mandatory disclosure of financial and non-financial information by companies and organizations to designated government agencies and regulatory bodies. What is statutory reporting?

Non-Profits 52

Non-Profits Legal financial statements tax return 52

Katz,Sapper&Miller

FEBRUARY 27, 2020

The Governmental Accounting Standards Board (GASB) has created a single approach to accounting for and reporting of leases with the issuance of GASB Statement No. State and local governments should expect Statement 87 to have a significant impact on their financial statements. 87, Leases (Statement 87).

Government 55

Government Account accounted accountant 55

Katz,Sapper&Miller

APRIL 24, 2019

The Governmental Accounting Standards Board (GASB) regularly issues GASB statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S. Below are select statements that were recently issued.

accounting standards 40

accounting standards accounting principles Account accounted 40

Katz,Sapper&Miller

MARCH 21, 2019

The Governmental Accounting Standards Board (GASB) has issued Statement No. 87, Leases, in an effort to provide information that is more relevant and consistent related to the reporting of leases by governments. Effective for reporting periods after Dec.

accounting standards 40

accounting standards Account accounted accountant 40

Withum

SEPTEMBER 19, 2024

The Governmental Accounting Standards Board (GASB) issued Statement No. 101 to provide updated guidance on the recognition and measurement of compensated absences for government entities. NOTE: Sabbatical leave during which an employee is not required to perform any significant duties for the government is a compensated absence.

Government 59

Government accrual accounting financial statements accounting standards 59

Cherry Bekaert

APRIL 16, 2024

The Governmental Accounting Standards Board (GASB) recently issued Statement No. 102, which adds new disclosure requirements for governments. Numerous risks loom over state and local governments, which could impair their service delivery or hinder their capacity to fulfill obligations in a timely manner.

Government 96

Government accounting standards financial statements audit 96

Accounting Today

JULY 28, 2022

(..)

financial statements 98

financial statements Government accounting standards accountant 98

Accounting Today

JANUARY 8, 2024

The Governmental Accounting Standards Board released guidance requiring state and local governments to disclose information about certain risks.

accounting standards 75

accounting standards Government accounted Account 75

CPA Practice

MAY 28, 2024

The Governmental Accounting Standards Board (GASB) has issued guidance designed to improve key components of the financial reporting model—the blueprint for governmental financial reports. GASB Statement No. GASB research found that Statement 34 continues to be highly effective but did identify certain opportunities for improvement.

Government 52

Government financial statements accounting standards Account 52

Accounting Today

SEPTEMBER 28, 2023

The Governmental Accounting Standards Board floated a proposal to set requirements for some types of capital assets to be disclosed separately by state and local governments for purposes of note disclosures.

accounting standards 75

accounting standards Government accounted Account 75

Accounting Today

JANUARY 15, 2025

The International Ethics Standards Board for Accountants plans a standard-setting project on accounting firm culture and governance in response to a new report.

Government 52

Government accounting firms accounted Account 52

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. 102 , Certain Risk Disclosures , requires governments to disclose essential information about risks related to vulnerabilities due to certain concentrations or constraints.

financial statements 105

financial statements Control Spend Government accounting standards 105