Accounting January 21, 2025
AICPA News – January 2025
AICPA News is a round-up of recent announcements and alerts from the American Institute of CPAs and the Chartered Institute of Management Accountants.
December 17, 2013
GASB Resolves Transition Issue for Pension Standards
The Governmental Accounting Standards Board (GASB) recently issued a statement regarding the transition provisions of GASB’s new pension standards for state and local governments.
June 17, 2013
New York CPA Society endorses new FASB tax proposal
The New York State Society of Certified Public Accountants (NYSSCPA) expressed agreement with a proposal from the Financial Accounting Standards Board (FASB) that, if implemented, would standardize the treatment of net operating loss carryforwards or tax credit carryforwards on financial statements.
June 10, 2013
Report looks at FASB’s Proposed Accounting Standards for Leases
Thomson Reuters has released an overview of the Financial Accounting Standards Board’s (FASB) proposed accounting standards for leases.
February 12, 2013
FASB issues XBRL implementation guide for subsequent events
FASB has issued its U.S. GAAP Financial Reporting Taxonomy Implementation Guide—Subsequent Events. The guide is the first in a series of XBRL Implementation Guides, which are designed to help Taxonomy users understand how certain disclosures are structured within the Taxonomy, and is available at www.fasb.org.
February 8, 2013
FASB Issues Accounting Standards Update on Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income
The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting reclassifications out of accumulated other comprehensive income.
January 15, 2013
FASB Suggests Changes to Accounting for Repurchase Agreements
The Financial Accounting Standards Board has issued for public comment its proposal to improve financial reporting about repurchase agreements and other transfers with forward agreements to repurchase transferred assets.
November 4, 2012
New Financial Reporting Standards for Small Businesses
New AICPA framework would offer small businesses a new method of financial reporting. The framework is intended for companies who are not required to use Generally Accepted Accounting Principles.
September 17, 2012
BNA Launches New Accounting Resource Center
Site offers tools for understanding how accounting standards can be applied, from the valuation and impairment of assets, to accounting for financial instruments, as well as how these standards are changing.
August 7, 2012
Murray State & Texas A&M Professors Write the Book on Financial Accounting & Reporting
Two professors in the Bauernfeind College of Business at Murray State University, L. Murphy Smith, DBA (Doctor of Business Administration), and Katherine Taken Smith, DBA, along with Shannon Knight, CPA, a business professor at Texas A&M University, collaborated on a new financial accounting textbook. The book, Financial Accounting and Reporting, is published by CCH.
July 17, 2012
SEC Stalls on IFRS, Some Companies May Adopt Anyway
U.S companies will not be required to meet a mid-2013 deadline for adopting IFRS accounting standards. At least not anytime soon.