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). During the Revenue PIR process, we obtained an even greater appreciation for our stakeholders’ commitment to the high-quality implementation of a standard,” stated FASB Chair Richard R.

accounting standards 111

accounting standards financial statements financial accounting Account 111

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.

accounting principles 107

accounting principles accounting standards financial statements Maine 107

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.

accounting standards 124

accounting standards financial statements financial accounting Account 124

SMBAccountant

MARCH 8, 2023

One type of accounting that is well-known is tax accounting. According to Investopedia, tax accounting is “a structure of accounting methods focused on taxes rather than the appearance of public financial statements”. Tax accounting applies to individuals, businesses, and corporations.

tax accountant 130

tax accountant Tax accounted Account 130

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.

accounting standards 111

accounting standards accounted accountant Account 111

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

financial statements auditor accounting standards financial accounting 52

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.

accounting standards 126

accounting standards financial statements financial accounting Account 126

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. The new chapter becomes Chapter 6 of FASB Concepts Statement No.

accounting concepts 104

accounting concepts financial statements accounting standards financial accounting 104

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

accounting principles accounting concepts financial statements accounting standards 104

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

income tax Tax accounting standards financial statements 110

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

accounted Account accountant accounting principles 96

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.

financial statements 95

financial statements Government Manufacturing accounting and finance 95

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

Non-Profits financial statements accounting standards financial accounting 80

Cherry Bekaert

FEBRUARY 27, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) expanded income tax disclosure requirements for public and private companies. The expanded disclosure requirements are detailed in Accounting Standards Update No. 2023-09 (ASU 2023-09) and increase transparency of a filer’s global taxes.

income tax 98

income tax accounting standards Tax accounted 98

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

Government accounted Account accountant 115

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

Missouri audit accounting principles public accounting 98

CPA Practice

FEBRUARY 21, 2023

The CAMT imposes a 15% minimum tax on the adjusted financial statement income of large corporations for taxable years beginning in 2023. Large corporations, including insurance companies, with average annual adjusted financial statement income exceeding $1 billion are the taxpayers generally affected by the CAMT, the IRS said.

financial statements 97

financial statements Tax financial accounting Account 97

CPA Practice

MARCH 1, 2024

The Financial Accounting Foundation has started its effectiveness review—which includes a public comment period—of the Private Company Council, the panel that advises the Financial Accounting Standards Board on private company matters. Any proposed changes to GAAP are subject to endorsement by the FASB.

accounting principles 52

accounting principles Virginia financial statements accounting standards 52

LSLCPAs

MARCH 11, 2024

The month-end close process is a critical aspect of financial management for organizations of all sizes. Timely and accurate month-end close processes.

Government 59

Government Finance cpas accounting and finance 59

Withum

SEPTEMBER 5, 2024

Being able to get an overview of a financial statement quickly is important to determine if additional time should be allocated to a thorough review. This is one of the skills my students will learn this semester in my Baruch College Introduction to Managerial Accounting course. The 79 students had a Form 10-K of their choosing.

managerial accounting 59

managerial accounting financial statements accounting courses accountancy courses 59

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

accounted Account accountant accounting standards 69

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

accounted Account accountant accounting principles 122

Withum

JANUARY 12, 2024

A Purchase Price Allocation (“PPA”) is a financial accounting process that takes place after a business acquisition or merger. The purpose of a PPA is to determine the fair value of the acquired assets and liabilities, which is essential for accurate financial reporting. What is a PPA? Why Do I Need One?

Real Estate 75

Real Estate accounting standards financial statements accounting principles 75

Cherry Bekaert

SEPTEMBER 22, 2023

Contributors: Graham Michitsch, Senior Manager On September 6, 2023, the Financial Accounting Standards Board voted on cryptocurrency accounting and set in place a new rule that business must use fair-value accounting for certain crypto assets that meet the predefined criteria, such as bitcoin.

accounted 105

accounted Account accountant accounting standards 105

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

income tax Tax accounting standards financial statements 111

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

accounting principles accounting standards financial statements financial accounting 110

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

accounting standards financial statements financial accounting Account 125

Withum

DECEMBER 2, 2024

Moreover, cash basis accounting is not compliant with Generally Accepted Accounting Principles (GAAP), as established by the Financial Accounting Standards Board (FASB). GAAP mandates the use of accrual accounting, meaning businesses relying solely on cash basis accounting may face compliance issues.

accrual accounting 52

accrual accounting accounted Account accountant 52

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.

auditor 59

auditor accounted Account accountant 59

CPA Practice

DECEMBER 13, 2023

The Financial Accounting Standards Board ( FASB ) has published an Accounting Standards Update (ASU) intended to improve the accounting for and disclosure of certain crypto assets. Early adoption is permitted for both interim and annual financial statements that have not yet been issued (or made available for issuance).

accounting standards 72

accounting standards accounted Account accountant 72

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.

accrual accounting 98

accrual accounting accounting principles accounts payable accounting standards 98

MineralTree

OCTOBER 5, 2023

Its primary purpose is to ensure the accuracy and completeness of financial records so that financial statements can be prepared for internal and external reporting purposes. Inaccurate expense reporting can impact financial statements and can create errors that the AP team must take time and resources to reconcile.

AP Automation 76

AP Automation accounts payable AP Processes accounting and finance 76

Cherry Bekaert

OCTOBER 25, 2023

The Financial Accounting Standards Board (FASB) has issued Accounting Standard Update (ASU) 2023-03 through ASU 2023-06. However, three of the four ASUs pertain to SEC guidance contained in the Codification and there were no new standards issued by the Government Accounting Standards Board (GASB) this quarter.

financial statements 111

financial statements accounting and finance accounting standards Finance 111

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.

financial statements 52

financial statements accounting standards accounting and finance CPA 52

CPA Practice

SEPTEMBER 7, 2023

The Financial Accounting Standards Board (FASB) unanimously approved new rules on Sept. I think we heard overwhelmingly from investors that allocate capital based on the use of financial statements that this will provide them better information to make their decisions.” I think this [standard] moves the needle there.

accounting standards 98

accounting standards financial statements Account accounted 98

Withum

NOVEMBER 8, 2022

Has the Financial Accounting Standards Board (FASB) just saved us from unfavorable accounting? On October 12, 2022, the FASB issued a board ruling that certain crypto assets should be measured at fair value. Who’s Affected by This Ruling?

accounted 80

accounted Account accountant financial statements 80

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).

income tax 105

income tax Tax accounting standards financial statements 105