Financial Reporting


The Institute, in cooperation with industry experts, has updated and revised illustrative financial statements for banks, savings institutions, credit unions and mortgage companies (in separate versions), which members can find online at www.aicpa.org/members/div/acctstd/illustrative_fs.asp . These illustrative statements also are available in the AICPA publication, Checklists and Illustrative Financial Statements for Banks, Savings Institutions, Credit Unions, Finance Companies, and Mortgage Companies.

While the statements are not intended to be comprehensive or to establish a preference among alternative principles acceptable under GAAP, they do provide guidance useful to members employed in depository or lending institutions.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.