Accounting & reporting news and resources

To implement rapid changes in accounting standards, CPAs can focus first on their areas of specialty, according to Michael Brand, CPA, CGMA, a partner at Johnson, Feigley, Newton & Brand LLP.

July 1, 2017

CAQ, investor groups rally to preserve SOX provision

A bill in Congress would raise revenue thresholds, exempting more issuers from internal control assessment requirements.

June 28, 2017

GASB establishes new approach for reporting leases

GASB issued a statement that is designed to help align the accounting and financial reporting of lease transactions more closely with their economic substance.

June 27, 2017

FASB proposes superseding guidance for S&L bad debt reserves, steamship entities

Technical corrections proposed by FASB would affect accounting guidance for certain bad debt reserves of savings and loans, and steamship entities.

June 22, 2017

FASB issues proposal for consolidation of VIEs

A proposed ASU would give private companies an alternative for financial reporting associated with consolidation of variable-interest entities.

June 22, 2017

What FASB has in store for not-for-profits

The pace of standard setting may slow in the coming months, but one key new project is on the horizon.

June 13, 2017

Why CPAs need to get a grip on blockchain

The decentralized ledger system may seem confusing, but it also adds up to new opportunities for savvy financial professionals.

June 7, 2017

Hedging may get easier under new FASB accounting standard

Accounting obstacles that prevented some organizations from using hedging to manage risks may be eliminated by a standard that received preliminary approval from FASB.

June 7, 2017

IASB interpretation addresses uncertainty in accounting for income taxes

A new interpretation issued by the IASB specifies requirements for how organizations should reflect uncertainty in their accounting for income taxes.

June 1, 2017

FinREC issues a dozen revenue recognition working drafts

The AICPA’s FinREC issued 12 working drafts of industry-specific accounting issues.

June 1, 2017

GASB omnibus addresses wide range of accounting issues

The new requirements take effect this month.

June 1, 2017

FinREC issues revenue recognition drafts for 4 industries

Airlines, gaming, hospitality, and time-share are addressed.

June 1, 2017

FASB issues new amortization accounting rules for callable debt securities

Stakeholders said current GAAP distorts interest income.

June 1, 2017

U.S. tax and FASB’s new paradigm for revenue recognition

Companies must prepare for unforeseen implications for tax planning.

FROM THIS MONTH'S ISSUE

How to replace running totals in Excel

Accountants routinely copy down formulas in Excel to track cumulative balances, such as cash flow and retained earnings, but there is a better way. This JofA Technology Q&A article shows the way with step-by-step instructions and a video walkthrough.