FASB Eliminates the Concept of Extraordinary Items Accounting Standards Update (ASU) 2015-01
This alert provides information about FASB ASU 2015-01, Income Statement—Extraordinary and Unusual Items: Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.
Published on January 20, 2015
FASB Issues Accounting Alternative for Private Companies on Intangible Assets in Business Combinations Accounting Standa...
This alert discusses the FASB issuance of ASU 2014-08 for private companies on intangible assets acquired in a business combination.
Published on December 24, 2014
Standards Applicable to Registered Broker-Dealers And Other Entities Registered with the SEC and New Code of Professiona...
This alert includes a a summary of certain auditing, attestation, and independence standards applicable to the audit and attest engagements for certain entities registered either with the SEC, Commodity Future Trading Commission, or both, for fiscal years ending on or after June 1, 2014.
Published on December 18, 2014
Center for Plain English Accounting News Alerts - 2012
The 2012 Plain-English alerts are related to the release of authoritative accounting and attest literature and implementation guides associated with monthly reports.
Published on December 01, 2014
Early Adoption of the Going Concern Accounting Standard Audit Engagement Considerations
This alert provides some audit considerations for entities that are contemplating early adoption of ASU 2014-15 on going concern.
Published on November 25, 2014
ASU 2014-17 (FASB ASC 805) Pushdown Accounting
This alert discusses the recent release of ASU 2014-17, Business Combinations (Topic 805): Pushdown Accounting, a consensus of the FASB Emerging Issues Task Force.
Published on November 20, 2014
FASB Endorses PCC Issue 13-01A on Intangible Assets and Issues ASU 2014-16 on Derivatives and Hedging
This alert discusses the FASB formal endorsement of PCC Issue No. 13-01A as well as the recent issuance of ASU 2014-16.
Published on November 06, 2014
New Mortality Tables Released Result is Likely to be Higher Defined Benefit Plan Obligations
This alert discusses the recent release of the latest Society of Actuaries mortality tables and the potential impact on defined benefit plan obligations.
Published on October 30, 2014
SSARS NO. 21 ISSUED Major Changes for Accountants Who Prepare Financial Statements
On October 23, 2014, the ARSC released SSARS No. 21, Statements on Standards for Accounting and Review Services: Clarification and Recodification which represents ARSC’s efforts to clarify and revise the standards for reviews, compilations, and engagements to prepare financial statements.
Published on October 30, 2014
News & Alerts
The CPEA news and alerts page presents recent A&A news of interest to members and contains the library of alerts issued by the CPEA. Also presents important announcements dealing with CPEA membership and events.
Published on September 12, 2014
ASU 2014-15 (FASB ASC 205-40) Going Concern
On August 27, 2014, the FASB released Accounting Standards Update (ASU) 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This ASU amends FASB Accounting Standards Codification (FASB ASC) 205-40, Presentation of Financial Statements—Going Concern, to provide guidance about management’s responsibility to evaluate whether there
Published on August 28, 2014
Progress Report PCAOB Inspections of Broker-Dealer Audits
The Public Company Accounting Oversight Board (PCAOB) recently announced in their third progress report that they continue to find a high degree of independence problems and other deficiencies in audits of broker-dealers.
Published on August 19, 2014
Final Rule Adopted Fair Value Disclosures May Be Affected
On July 23, 2014, the Securities and Exchange Commission (SEC) voted to adopt a Final Rule designed to limit the risk of investor runs on money market funds. The Final Rule requires institutional prime money market funds to move from a stable $1 per share net asset value (NAV), to
Published on July 28, 2014
GASB Pension Accounting Standards New Auditing Interpretations Issued
In June 2014, the AICPA Auditing Standards Board (ASB) issued two auditing interpretations that are designed to help governmental pension plans, participating employers, and their auditors as they implement new GASB standards.
Published on July 08, 2014
ASU 2014-12 [FASB ASC 718] Stock Compensation
On June 19, 2014, the FASB released ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. This ASU brings consistency to the accounting for share-based payment awards that require a specific performance target to
Published on July 02, 2014