Cherry Bekaert

NOVEMBER 6, 2023

Contact Us The post Cost Accounting Standard Considerations for a Growing GovCon appeared first on Cherry Bekaert.

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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.

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accounting standards accountant Account accounted 124

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 ).

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financial accounting accounting standards accountant Account 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.

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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. When applying that guidance by analogy, business entities may not apply all of that guidance,” the FASB said in its proposal.

Government 115

Government accountant Account accounted 115

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?

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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

Government accountant Account accounted 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.

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accounting standards cost accounting accountant Account 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.”

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accounting standards cost accounting accountant Account 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.

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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.

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Government accounting principles accountant Account 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 accountant Account accounted 98

Accounting Today

SEPTEMBER 19, 2022

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accounting standards Account accountant accounted 98

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

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.

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accounting standards accounting principles accountant Account 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 accountant Account 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

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.

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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 accountant accounted 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.

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accounting standards accounted Account accountant 124

Accounting Today

JUNE 13, 2022

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Government 98

Government Account accountant accounted 98

Katz,Sapper&Miller

JULY 9, 2019

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

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accounting standards accountant Account accounted 45

Accounting Today

NOVEMBER 22, 2024

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

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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

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. Capital Assets Held for Sale Statement 104 establishes requirements for capital assets held for sale.

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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 accountant Account accounted 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.

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accounting standards accounting principles accountant Account 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.

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accounting standards accountant Account accounted 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

Accounting Today

JULY 28, 2022

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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

Cherry Bekaert

FEBRUARY 13, 2024

Governmental Accounting Standards Board (GASB) Statement No. 100, Accounting Changes and Error Corrections, an amendment of GASB Statement No. This accounting pronouncement is intended to streamline the reporting of accounting changes and error corrections, as well as the related disclosures in governmental financial reporting.

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accounting principles accountant Account accounted 96

Cherry Bekaert

FEBRUARY 23, 2024

The Governmental Accounting Standards Board (GASB) recently issued Statement No. 101, Compensated Absences, to update the recognition, measurement and disclosure requirements for compensated absences in state and local governments.

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Accounting Today

JANUARY 8, 2024

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

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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.

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accounting standards Government accounted Account 75

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.

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