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.
Accounting Standards November 25, 2024
GASB Proposes Guidance on Subsequent Events
The proposal defines subsequent events and provides note disclosure requirements in order to reduce diversity in practice.
Accounting Standards November 25, 2024
FASB Issues Post-Implementation Review Report for Its Revenue Recognition Standard
The report discusses how the FASB staff conducted the Revenue PIR process, which included outreach with more than 2,200 stakeholders from diverse backgrounds, key implementation support
Accounting Standards November 25, 2024
FASB Seeks Feedback on Clarification to Interim Effective Date for Disaggregation of Income Statement Expenses Standard
The proposed ASU is aimed at public business entities that do not have an annual reporting period that ends on Dec. 31.
Accounting Standards November 25, 2024
New GASB Members Named
The Financial Accounting Foundation's Board of Trustees has appointed Robert W. Scott and Dianne E. Ray to the GASB board.
Accounting November 19, 2024
FASB Looks to Add New Guidance on How Businesses Account For Government Grants
The proposal would establish rules on the recognition, measurement, and presentation of a government grant received by a business.
Accounting November 14, 2024
FASB Seeks Comment on Financial KPIs
An invitation to comment was issued on Nov. 14 as part of the FASB's research project on financial KPIs for business entities.
Accounting November 13, 2024
FASB Rolls Out Plan to Improve Interim Reporting Guidance
A proposal issued on Nov. 13 is intended to provide stakeholders some clarity on the current interim reporting requirements.
Accounting Standards November 11, 2024
Federal Judges Say Google Lied and Cheated in Monopoly Cases
The tactics led a Virginia federal court judge to conclude that an “awful lot of evidence has likely been destroyed,” and provoked a San Francisco federal court judge to criticize Google for lying to the court and deliberately hiding evidence from opponents.
Accounting November 21, 2024 Sponsored
Archived Webcast – S Corporation vs. LLC: Similarities and Differences
While S Corporations and Limited Liability Companies (LLCs) are similar because they provide liability protection for business owners and allow for pass-through tax treatment, there are many differences as to how they are operated, complied with, and taxed.
Accounting November 4, 2024
FASB Adds Standard on Income Statement Expenses
The FASB listened to investor requests by requiring public companies to disclose more information about certain expenses.
Accounting Standards October 31, 2024
FASB Proposal Aims to Clarify Guidance on Accounting Acquirer in Business Combinations
The determination of the accounting acquirer can significantly affect the carrying amounts of the combined entity’s assets and liabilities, which can affect the combined entity’s post-transaction net income.
Accounting October 29, 2024
FASB Tackles Plans to Update Software Cost Accounting Guidance
The updated rules would enhance the transparency of an entity's cash flows related to internal-use software costs, the FASB says.