Accounting


 
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The SEC in March released Staff Accounting Bulletin (SAB) no. 105, Application of Accounting Principles to Loan Commitments ( www.sec.gov/interps/account/sab105.htm ). It adds section DD, “Loan Commitments Accounted for as Derivative Instruments,” to topic 5, “Miscellaneous Accounting,” of the commission’s codification of SABs. The new section provides interpretive guidance SEC-registered companies should consider when recognizing such commitments, and it emphasizes certain disclosure requirements that may be relevant to mortgage banking activities.

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.