The AICPA Financial Reporting Executive Committee has published a working draft of an illustrative note to financial statements of SEC-registered broker-dealers.
This article breaks down cryptoassets into four categories.
The National Association of State Boards of Accountancy (NASBA) is proposing changes to the Uniform Accountancy Act (UAA) Model Rules related to peer review programs.
GASB published a proposed implementation guide that provides questions and answers about the board’s new standards for state and local government accounting and financial reporting for fiduciary activities.
The guidance supersedes the 2014 private company exception.
The objective is to make it easier for companies to make judgments.
Alignment with capitalization rules for films is sought.
The change takes effect alongside an Accounting Standards Update.
The standards cover financially material issues in 77 industries.
Audit committees have a lot to consider as 2018 concludes with adoption of game-changing accounting standards in full swing at many companies.
Under a proposal issued by FASB, not-for-profits would be able to take advantage of the private company GAAP alternatives for accounting for goodwill and accounting for intangible assets in a business combination.
FASB proposed an accounting standard that would clarify how lessors should handle certain scenarios under the board’s new lease accounting standard.
The taxonomies contain updates necessary for meeting GAAP and SEC requirements in financial reporting.
The AICPA issued working drafts of two new case studies that will be added to its new accounting and valuation guide, Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies.
FASB will not delay the effective date of its new lease accounting standard, board Chairman Russell Golden said at the AICPA Conference on Current SEC and PCAOB Developments.
The new concept of “individually tailored” accounting disclosures has been a challenge for accountants and auditors.
Companies need to adhere to policies and controls that reinforce quality in non-GAAP reporting and KPIs, Securities and Exchange Commission Chairman Jay Clayton and Chief Accountant Wes Bricker said at the AICPA Conference on SEC and PCAOB Developments.
An Accounting Standards Update affects accounting for sales and similar taxes, certain lessor costs and certain requirements related to variable payments in contracts.
Smaller organizations with limited staff may have difficulty implementing FASB’s new standard on presentation of not-for-profit financial statements. These best practices can make the work easier.
The change corrects a 2013 error.