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October 16, 2020

Government reporting and the future: A Q&A with GASB Chairman Joel Black

With state and local governments facing serious pandemic-related concerns, the Governmental Accounting Standards Board is providing relief and resources while also working on its “big three” high-impact projects for the future. GASB Chairman Joel Black explains in this Q&A.

October 15, 2020

FASB clarifies callable debt securities accounting

FASB published a new standard that clarifies accounting requirements for callable debt securities.

October 14, 2020

Costs and benefits: A Q&A with FASB Chair Richard Jones

The chair of the Financial Accounting Standards Board describes his vision for standard setting and his dedication to making sure the costs of new rules don’t exceed the benefits.

October 8, 2020

Fair value, stablecoins addressed in new AICPA guidance

Nonauthoritative set of 13 Q&As also touches on how investment companies and broker-dealers should account for digital assets.

September 29, 2020

How auditors can enhance the reliability of non-GAAP reporting

Practitioners are not required to provide an opinion on non-GAAP measures during a financial statement audit, but they can be engaged to perform additional procedures related to this information, according to a new Center for Audit Quality report.

September 23, 2020

SEC amends rules for whistleblowers, shareholder proposals

The SEC voted to amend rules that govern its whistleblower program and the amount a shareholder must hold to have a proposal included in a company’s proxy statement.

September 23, 2020

New FAQs address health care entity pandemic accounting

Pandemic-related accounting issues for health care entities are addressed in new AICPA guidance that has been added to a list of previously posted frequently asked questions.

September 22, 2020

New ESG reporting metrics released by World Economic Forum

Environmental, social and governance measures and disclosures released by the World Economic Forum are designed to make it easier for companies to benchmark their sustainable business performance.

September 21, 2020

FASB proposes expedient for private company franchisors

FASB issued a proposal that would provide a practical expedient for private company franchisors in how they analyze certain activities when determining their performance obligations in a franchise agreement under the board’s new revenue recognition standard.

September 17, 2020

Treasury report on CECL standard is inconclusive

The coronavirus pandemic and current market conditions prevent a definitive assessment of the impact of the FASB’s new standard on accounting for credit losses, according to a new report released by Treasury.

September 17, 2020

FASB alters not-for-profit accounting rules for gifts-in-kind

Not-for-profit financial statements will include more information on contributed nonfinancial assets, also known as gifts-in-kind, under a new standard issued by FASB.

September 11, 2020

Consistency sought in sustainability, corporate reporting through global effort

IFAC called for the creation of a new sustainability accounting standards board, and five global organizations committed to working together toward unified corporate reporting.

September 11, 2020

SEC changes disclosure rules for banks

The SEC announced rule changes that will change the disclosures bank and savings and loan registrants are required to provide investors.

September 2, 2020

TQAs discuss nongovernmental health care entities’ pandemic-related issues

Technical Questions and Answers issued by the AICPA address nongovernmental health care entities’ accounting for governmental assistance related to the coronavirus pandemic.

September 1, 2020

TQAs address lease accounting for retirement communities

Background and nonauthoritative guidance on lease accounting for continuing care retirement community Type A life care contracts is provided in Technical Questions and Answers (TQAs) published by the AICPA.

August 28, 2020

How lenders should account for forgivable PPP loans

The forgivable portion of a Paycheck Protection Program loan should be accounted for by the lender as an interest-bearing loan until payment for that loan is received from the SBA, according to new Technical Question and Answer Guidance issued by the AICPA.

August 26, 2020

SEC changes disclosure rules, redefines ‘accredited investors’

The SEC voted to amend its rules for public company disclosures of the description of business, legal proceedings and risk factors. The commission also changed its definition of “accredited investor.”

August 17, 2020

FASB addresses valuation of private company share-based awards

Private company share-based awards can be difficult to value because such shares often are not actively traded. FASB proposed guidance that is designed to make this valuation less costly and complex.

August 11, 2020

Pandemic-related FAQs for health care entities

Health care entities’ financial statement preparers and auditors can benefit from an FAQ document developed by the AICPA on issues related to the coronavirus pandemic.

August 5, 2020

FASB simplifies accounting for convertible instruments, contracts in own equity

FASB issued a new standard that is intended to simplify accounting for convertible instruments and contracts in an entity’s own equity.

FROM THIS MONTH'S ISSUE

4 ways solo practitioners can stand out

Five years ago, a grieving Angel Zhen started his own CPA firm with no clients and no revenue. Today, he has 300 clients, $600,000 in revenue and 12 weeks of annual vacation. In this JofA article, he shares how he set up his firm and how you could do the same.