Wendy Tietz

JANUARY 28, 2024

What information can be calculated from Coca-Cola’s trial balance? Coca-Cola operates and reports financial information annually every December 31. Coca-Cola, Inc. NYSE: KO) is a multinational drink company headquartered in Atlanta, Georgia, United States. It is a publicly held corporation.

Georgia 52

Georgia financial statements financial accounting accounted 52

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

Wendy Tietz

JANUARY 28, 2023

Krispy Kreme operates and reports financial information on a 52- or 53-week year with the fiscal year ending on the Sunday closest to December 31. (NASDAQ:DNUT) is a multinational doughnut company and coffeehouse chain headquartered in Winston-Salem, North Carolina, United States. It is a publicly held corporation.

North Carolina 52

North Carolina accounting equation financial statements financial accounting 52

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

CPA Practice

FEBRUARY 21, 2023

The information released last Friday is intended to be used until the IRS and Treasury release proposed regulations. The CAMT imposes a 15% minimum tax on the adjusted financial statement income of large corporations for taxable years beginning in 2023. The IRS and the Treasury Department on Feb.

financial statements 97

financial statements Tax financial accounting Account 97

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

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 accountant 98

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.

accountant 122

accountant Account accounted accounting principles 122

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

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

ThomsonReuters

FEBRUARY 8, 2024

Accounting assumptions, along with accounting principles and concepts, provide professionals with the necessary framework for preparing financial statements. It should be noted that accounting assumptions are not based on subjective opinions or guesstimates. What are the main accounting assumptions?

accountant 96

accountant Account accounted accounting principles 96

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

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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. In SEC Release No.

accounting principles 110

accounting principles accounting standards financial statements financial accounting 110

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.

accountant 69

accountant Account accounted accounting standards 69

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

CPA Practice

SEPTEMBER 7, 2023

The Financial Accounting Standards Board (FASB) unanimously approved new rules on Sept. Our mission is to best reflect the economics of a transaction and provide investors and allocators of capital with the information they need. I think this [standard] moves the needle there.

accounting standards 98

accounting standards financial statements Account accounted 98

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 accountant Account accounted 72

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.

accountant 105

accountant Account accounted accounting standards 105

MineralTree

OCTOBER 5, 2023

The end of month close process plays a vital role in ensuring the accuracy, integrity, and transparency of financial records for businesses of all sizes. Making this monthly ritual effective and efficient can mean the difference between informed decision-making and costly errors. What Is the Month-End Close Process in Finance?

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

DECEMBER 6, 2022

Quality and reliable ESG information starts with solid reporting by company management, and auditors are ideally positioned to help build that trust and credibility. Given the increased focused on ESG, this blog marks the first in a series dedicated to ESG and its impacts on the accounting profession. Then there’s the tax implications.

auditor 59

auditor accountant Account accounted 59

inDinero Accounting

JUNE 29, 2023

With this knowledge, you will gain insight into this important topic and have the tools needed to make informed decisions about their business practices. What are Generally Accepted Accounting Principles (GAAP)? Additionally, GAAP ensures that businesses remain compliant with government regulations regarding financial reporting.

accrual accounting 93

accrual accounting accounting principles accounts payable accounting standards 93

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

Cherry Bekaert

JANUARY 29, 2024

The Financial Accounting Standards Board (FASB) issued nine Accounting Standard Updates (ASUs), and the Government Accounting Standards Board (GASB) issued only one new GASB Statement in 2023. The latest issue of the Rundown features a summary of the new standards issued in the fourth quarter 2023.

income tax 95

income tax financial statements accounting standards Tax 95

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

Withum

DECEMBER 19, 2023

The new guidance issued in Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-13 is effective for fiscal years beginning after December 31, 2022 for these companies. Companies can use its discretion and professional judgment to determine what information should inform its measurement process.

accounting standards 64

accounting standards financial statements accounting and finance Manufacturing 64

CPA Practice

SEPTEMBER 25, 2024

The Financial Accounting Standards Board (FASB) released an exposure draft on Sept. 25 on a proposal that would clarify parts of its current guidance on hedge accounting and address several incremental hedge accounting issues arising from the global reference rate reform initiative.

accountant 111

accountant Account accounted accounting standards 111

CPA Practice

AUGUST 1, 2023

The Financial Accounting Standards Board ( FASB ) has published a proposed Accounting Standards Update (ASU) intended to provide investors with more decision-useful information about a public business entity’s expenses. Stakeholders are encouraged to review and provide comment on the proposal by October 30, 2023.

accounting standards 52

accounting standards auditor Manufacturing financial statements 52

Withum

MAY 7, 2024

When equity investments are valued at fair value, fair value needs to be measured based upon the requirements in Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurement. Whether users of financial statements need additional information to evaluate the quantitative information disclosed.

Sales 69

Sales accounting standards financial statements financial accounting 69

CPA Practice

MARCH 24, 2023

The Financial Accounting Standards Board (FASB) on Thursday published an exposure draft of its proposed accounting rules on how companies should report certain types of crypto assets and digital currencies.

accountant 111

accountant Account accounted accounting standards 111

Cherry Bekaert

JULY 29, 2024

The Financial Accounting Standards Board (FASB) did not issue any new Accounting Standard Updates (ASUs) in the second quarter of 2024, while the Government Accounting Standards Board (GASB) issued one new GASB Statement. Second Quarter 2024 Newly Issued Standards GASB Statement No.

accounting standards 52

accounting standards accounting and finance income tax Government 52

Withum

DECEMBER 14, 2023

On December 13, 2023, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) 2023-08 “Accounting for and Disclosure of Crypto Assets”. Entities are able to early adopt the ASU for both interim and annual financial statements that have not yet been issued or made available for issuance.

accounting standards 116

accounting standards accountant Account accounted 116

Withum

NOVEMBER 8, 2022

Has the Financial Accounting Standards Board (FASB) just saved us from unfavorable accounting? For more information on this topic, please contact a member of Withum’s Not-for-Profit and Education Services Team. The post Crypto Currency Accounting Changes for Not-for-Profits appeared first on Withum.

accountant 80

accountant Account accounted financial statements 80

CPA Practice

AUGUST 23, 2023

The Financial Accounting Standards Board (FASB) issued a new standard on Wednesday that addresses the accounting for contributions made to a joint venture, upon formation, in a joint venture’s separate financial statements. 1, 2025, and early adoption is permitted.

accountant 52

accountant Account accounted accounting standards 52

Going Concern

OCTOBER 7, 2022

Financial Reporting Council (FRC) on Thursday announced it opened an investigation into accounting firm Mazars regarding its audit of financial statements at Studio Retail Group. Just as is the case with any other disclosure information, CFOs must rely on other functional leaders in the company for information and data.

Illinois 98

Illinois CPA audit tax return 98

Generate Accounting

MARCH 25, 2022

Any trust that receives income during the year will be required to report more information to Inland Revenue (IR) for the 2022 income year. From the 2022 tax year onwards more information will be required about a trust’s: earnings; settlements and settlors; beneficiaries and distributions; and persons with powers of appointment.

accrual accounting 52

accrual accounting Non-Profits financial statements Tax 52