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March 16, 2022

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.

March 15, 2022

SEC set to discuss staff climate change proposal

The Securities and Exchange Commission will meet Monday to discuss a staff proposal designed to improve and standardize companies’ climate change disclosures for investors.

March 9, 2022

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.

February 25, 2022

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.

February 9, 2022

SEC proposes new rules for private equity

Agency seeks comment on new requirements, including one that would mandate that registered fund advisers provide quarterly statements to investors.

February 8, 2022

TQA addresses health care accounting for items free of charge received for distribution

The AICPA issued nonauthoritative information addressing how for-profit health care business entities and nongovernmental not-for-profit health care entities may consider accounting for vaccines or other pharmaceuticals, medical supplies, or equipment received free of charge for distribution to specified patients.

February 3, 2022

A blockchain glossary, the CPA firm of the future, and Excel malware

Blockchain — what does it mean to you? A glossary of terms offers clarity. Also, hear or read more about accounting firms’ tech-integrated future.

February 1, 2022

FASB’s position on leases standard is ‘insensitive’

A reader responds to a JofA article on FASB declining to extend nonpublic lease accounting effective date.

January 26, 2022

Cryptoasset accounting: Tips for common scenarios

The evaluation of whether contracts involving cryptoassets contain embedded derivatives, and borrowing, lending and mining of cryptoassets all come with complex accounting implications. This nonauthoritative guidance can steer entities in the right direction on reporting the performance of these assets more consistently in the financial statement.

January 6, 2022

GASB to consider governmental going concern standards

GASB has decided to undertake a major project on accounting and financial reporting for going concern uncertainties and severe financial stress.

December 23, 2021

FASB issues 2 new financial accounting concept statements

Two new FASB concept statements address financial statement elements and factors FASB should consider in developing accounting guidance.

December 20, 2021

FASB ASU addresses supplier finance programs

A proposed Accounting Standards Update would help investors and others better consider the effects on a buyer’s working capital, liquidity and cash flows. The comment deadline is March 21.

December 15, 2021

Digital assets, intangibles among priorities on FASB’s new research agenda

FASB updated its research agenda Wednesday in response to comments received in a consultation earlier this year.

December 15, 2021

SEC addresses share buyback disclosures, insider trading rules

The Securities and Exchange Commission issued separate proposals Wednesday that are designed to enhance share buyback disclosures and provide protections against insider trading.

December 7, 2021

FASB working to balance desires of investors and preparers

Investors want more disaggregated information. Financial statement preparers are concerned about the costs of preparing that information. FASB Chair Richard Jones is seeking to balance those priorities.

December 7, 2021

Tips for avoiding trouble with non-GAAP reporting

Non-GAAP measures in public company reporting continue to be scrutinized carefully by SEC staff, according to information presented at the AICPA & CIMA Conference on Current SEC and PCAOB Developments.

December 6, 2021

Revenue recognition: Tips for challenging circumstances

Certain issues related to revenue recognition are causing enough application problems that the Financial Accounting Standards Board may choose to adjust the standard. But in the meantime, financial statement preparers need to apply the current rules correctly.

December 2, 2021