The AICPA has issued a new nonauthoritative Technical Practice Aid addressing potential accounting and auditing implications of a fund or its trustee imposing restrictions on a nongovernmental entity’s ability to withdraw its balance in a money market fund or other short-term investment vehicle. TPA 1100.15, Liquidity Restrictions, covers balance sheet classification, disclosures, debt covenants, subsequent events and going-concern considerations, among other things. The document is available here.
Where to find June’s flipbook issue
The Journal of Accountancy is now completely digital.
Leases standard: Tackling implementation — and beyond
The new accounting standard provides greater transparency but requires wide-ranging data gathering. Learn more by downloading this comprehensive report.
From The Tax Adviser