Accounting & reporting

What CPAs should know, and ask, about NFTs

An expert on digital assets, also an ENGAGE speaker, explains nonfungible tokens and addresses accounting questions related to NFTs in this podcast episode with transcript.

FASAB proposes conforming amendments to 4 technical releases

A proposal issued Wednesday by the Accounting and Auditing Policy Committee of the Federal Accounting Standards Advisory Board would amend four federal government accounting standards technical releases to conform with recently issued guidance.

FASB issues expanded hedge accounting standard

The Financial Accounting Standards Board (FASB) has published an Accounting Standards Update designed to better align hedge accounting with an organization’s risk management strategies.

SEC seeks to regulate principal trading firms

The SEC proposed new rules Monday that would require certain entities, most notably principal trading firms, to register with the Commission and to comply with federal securities laws and regulatory obligations.

Proposal would supersede auditing standard for group audits

The AICPA Auditing Standards Board is seeking comments on a proposed Statement on Auditing Standards that seeks to strengthen the auditor’s approach to planning and performing group audits and to improve the quality of such audits.

Grappling with Schedules K-2 and K-3

John Samtoy, CPA, discusses Schedules K-2 and K-3 for passthrough entities and U.S. persons who are partners in foreign partnerships, and how tax professionals can help clients with them.

SEC proposes new rules for cybersecurity reporting

Public companies would be required to provide investors with enhanced and standardized information about their cybersecurity practices under a new rule proposed Wednesday by the Securities and Exchange Commission.

SEC seeks more disclosures of short-sale data

The Securities and Exchange Commission voted to require certain institutional investment managers to report short sale-related information each month. The SEC then would make aggregate data about large short positions, including daily short-sale activity data, available to the public for each individual security.

Where to find May’s flipbook issue

The Journal of Accountancy is now completely digital. 

 

 

 

SPONSORED REPORT

Implementing lease accounting

FASB’s Codification (ASC) 842, Leases, requires companies to make significant changes in the way they report operating leases. But one of the initial challenges might be simpler than you think … find out more with this report.