Drawing from lessons learned in a real-life dissolution, a former CFO shares what CPAs need to know about applying FASB ASC 205-30.
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Accounting & reporting
Going concern: What CPAs in audit and finance should know
Going concern assessments are drawing renewed attention. AICPA standard setters help refresh what you know about this fundamental principle.
GASB issues guidance for its reporting model related to subsidies
New questions and answers aim to assist stakeholders with financial reporting requirements related to subsidies in Statement No. 103, Financial Reporting Model Improvements. GASB also seeks feedback on a model for voluntary digital reporting.
FASB proposes update to residential mortgage servicing rights guidance
Feedback on the proposal, which addresses stakeholder concerns, is being accepted through Nov. 9.
FASB updates investment company fair value reporting standard
The amendments address stakeholder concerns that current GAAP guidance doesn’t consider a contractual restriction on the sale of an equity security when measuring the fair value of that security.
FASB proposes several incremental improvements to GAAP
In addition to language tweaks, the proposed Accounting Standards Update includes clarifications related to estimates of expected credit losses and several other topics.
FASB proposal addresses whether certain digital assets are cash equivalents
FASB is seeking feedback on a proposal that aims to answer stakeholder uncertainty about how the definition of cash equivalents applies to stablecoins and other digital assets.
SEC proposal aims to clarify securities rules for crypto assets
The framework proposed Tuesday includes two exemptions from the registration requirements of the Securities Act of 1933. The proposed rules will be open for public comment for 60 days.
SAS 149 is coming: What audit teams need to know
The standard is effective for audits of group financial statements for periods ending on or after Dec. 15, 2026. Find out how it changes group audits and how you can prepare.
FASAB provides new guidance on public-private partnerships disclosures
The technical release aims to address implementation challenges shared by practitioners regarding a standard issued a decade ago.
SEC eyes e-delivery as the default over paper
The proposal would allow issuers, broker-dealers, investment advisers, and others to deliver information to investors electronically without first obtaining affirmative consent.
FASB seeks comment on fair value reporting proposal
FASB published a proposed Accounting Standards Update to improve investment company financial reporting by amending how investment companies measure the fair value of an equity security that is subject to a contractual sale restriction.
How to handle increased enforcement of unclaimed property notices
Companies can respond to states’ changing enforcement of unclaimed property notices by applying these best practices.
PCAOB seeks comment on standard-setting and research
The PCAOB seeks public comment on future areas of focus for standard setting, building on the dialogue initiated earlier this year.
FASB seeks comment on hedge accounting guidance
FASB published two Accounting Standards Updates recently. One is intended to improve accounting guidance for interest rate risk hedging and net investment hedging, and the other relates to guidance for certain market-return cash balance plans.
PCAOB seeks comment on proposed quality control amendments
The PCAOB issued for public comment a supplemental release regarding narrow, targeted proposed amendments to QC 1000, A Firm’s System of Quality Control, and related amendments to forms and the QC reporting rule.
SEC shares 3 goals in proposed 2026–2030 strategic plan
The commission is accepting comments on the draft through July 2.
SEC proposes rescission of climate disclosure rules
The proposal is the next formal step in the commission’s move away from historic rules it adopted in 2024.
GASB seeks new board member
The candidate selected for the part-time position will begin a five-year term in 2027.
FASAB seeks feedback on proposed practical expedient for embedded leases
Comments are requested by July 30 on a proposal that would allow reporting entities to apply a practical expedient to contracts or agreements that meet certain eligibility conditions.
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