Financial reporting

GASB seeks comment on several issues

GASB issued an omnibus exposure draft covering accounting and financial reporting issues identified during the implementation of previous GASB guidance.

FASB considering goodwill accounting changes

FASB issued an Invitation to Comment on whether the board should make changes to the accounting for certain identifiable intangible assets acquired in a business combination and subsequent accounting for goodwill.

Lease accounting: A private company perspective

As they implement FASB’s new lease accounting rules, private companies and not-for-profits may be surprised by the complexity of the transition and the effects on the financial statements.

Q&A discusses ‘direct care’ expenses for collections

A Technical Question and Answer issued by the AICPA discusses the characteristics of expenses that would be considered “direct care of existing collections” under a new FASB standard that updates the definition of “collections.”

New GASB guide addresses fiduciary activities

GASB issued a new implementation guide that includes questions and answers related to recently released GASB standards on accounting and financial reporting for fiduciary activities.

Revenue recognition tips for not-for-profits

Not-for-profits have their own specific concerns related to the Financial Accounting Standards Board’s new revenue recognition standard. Find out in this episode how the new standard applies to not-for-profits.

GASB proposes guidance on PPPs and APAs

The guidance is designed to improve accounting and financial reporting for public-private and public-public partnership arrangements. Comments on the proposal were requested by Sept. 13.

Tips for a smooth CECL implementation

FASB’s new current expected credit losses standard contains big implementation challenges for the financial services industry but also applies to companies in other industries.

GASB issues implementation guide

GASB issued an implementation guide that is designed to assist state and local government financial reporting personnel as they adopt and apply certain GASB statements.

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A new line of business to consider

Technology assessments may open the door to new engagement opportunities for your firm. What is a technology assessment? How do you perform one? JofA Tech Q&A author J. Carlton Collins shows you in a detailed explanation.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.