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Auditors Find Problems With DMV’s Modernization
It’s no secret the Department of Motor Vehicles struggled to implement a new computer and licensing system, but the department recently told the Auditors of Public Accounts that they’ve fixed those problems. The problems were mostly related to...
FASB and GASB to Cohost IN FOCUS: Not-for-Profit and Governmental Accounting Webcast for Academics
The Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB) today announced their joint webcast providing an update for college and university accounting educators on major recent FASB and GASB...
FASB Issues Revised Proposal to Improve Balance Sheet Debt Classification
The Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update (ASU) intended to improve guidance used to determine whether debt should be classified as a current or noncurrent liability in a classified...
3 steps to prep for the new EBP audit standard
If you perform financial statement audits of EBPs subject to ERISA, you’ll want to carefully review the changes and start planning for implementation well before the effective date
3 steps to prep for the new EBP audit standard
Last month, we issued a new statement on auditing standards (SAS) for employee benefit plan audits, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. The SAS is designed to make the auditor’s...
GASB Publishes Implementation Guidance on Lease Accounting
The Governmental Accounting Standards Board (GASB) has issued an Implementation Guide that contains questions and answers about the GASB’s new standards on accounting and financial reporting for leases. GASB Implementation Guides are intended to...
FASB Seeks Public Comment on Proposal to Delay Effective Dates for Private and Certain Public Companies and Organizations
The Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update (ASU) that would grant private companies, not-for-profit organizations, and certain small public companies additional time to implement FASB...
Top influencing skills accountants need
Words such as “influence”, “communications” and “emotion” don’t readily slot into the everyday vernacular, let alone the working tasks, of most management accountants. Yet, increasingly they’re all broader skill sets that are being built into...
3 tips to help your clients with revenue recognition implementation
Public companies adopted the new guidance in 2018, and soon private companies will get their turn. The guidance is effective for private entities in 2019 for annual reporting periods, and in 2020 for interim periods. Here are a few key things...
Why the CPA licensure process could change
This episode addresses how and why CPA licensure requirements might evolve as a result of the technological revolution that’s transforming the accounting profession. The episode’s guest is Carl Mayes, the associate director for CPA Quality and...