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CPEA Reports 

Current and past reports of the CPEA, including special reports, can be found here. Our plain-English reports cover accounting, financial reporting, audit, compilation, review, and other A&A topics that our CPEA members need to know about. Moreover, detailed analyses of new professional standards are addressed in the CPEA reports.

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The CPEA Revenue Recognition Series Part V Principal Versus Agent Considerations

Report Continuing our series on revenue recognition, we provide in-depth implementation guidance on principal versus agent considerations. This is a challenging area for many firms, and those serving start-up clients should pay particular attention.
Published on August 17, 2016

ASU 2016-13 The FASBs New Credit Loss Standard

Report In this report, we discuss the amendments in ASU 2016-13 that significantly change how entities will measure credit losses for most financial assets and certain other instruments. Our report focuses on implications for private companies.
Published on August 17, 2016

Readily Determinable Fair Value Technical Corrections Raises Questions

Report Recent changes by the FASB to the definition of readily determinable fair value (RDFV) may preclude certain types of investments from using the fair value NAV practical expedient. This report discusses practice issues related to this change.
Published on August 17, 2016

NFP Entities Reporting a Measure of Operations and Oft-Missed Disclosures

Report In this report, we discuss topics related to NFP entity financial reporting, more specifically, guidance related to presenting an intermediate measure of operations and certain disclosure requirements which are being missed by some firms.
Published on July 20, 2016

Frequently Asked Questions Accounting and Financial Reporting Matters

Report We receive numerous technical inquiries from our members. This report provides guidance on some frequently asked member questions over the last year in the areas of accounting and financial reporting matters.
Published on July 20, 2016

Peer Review MFCs New Developments in 2015

Report Continuing our series about common A&A deficiencies identified in peer review, we look at newer financial reporting developments. Many of these deficiencies relate to changes that could continue to cause quality issues at firms.
Published on July 20, 2016

ASU 2016-09 Simplifications to Employee Share-Based Payment Accounting

Report Read about the provisions of ASU 2016-09 most relevant to private companies. Those provisions include forfeitures, expected term practical expedient, and a one-time accounting policy election to switch from measuring all liability-classified awards at fair value to intrinsic value.
Published on June 21, 2016

ASU 2016-10 Revenue From Contracts with Customers Identifying Performance Obligations & Licensing

Report Recently issued ASU 2016-10 amends the new revenue recognition standard. In this report, we discuss the changes made by ASU 2016-10 related to identifying performance obligations and licensing implementation guidance.
Published on June 20, 2016

Financial Reporting Alert Not-for-Profit Entities

Report The AICPA’s 2016 Not-for-Profit Audit Risk Alert has been released. Our report takes a look at certain accounting issues highlighted in the alert that may need to be considered by auditors and accountants during their current engagements.
Published on June 20, 2016

The New Lease Standard CPEA Implementation Series Part I

Report This series focuses on major areas of change for all lessee and lessor entities as a result of the new lease standard. Practitioners should not overlook these changes that are likely to affect most entities that enter into leasing arrangements.
Published on May 18, 2016

The CPEA Revenue Recognition Series NFP Entities Part II

Report In this report, we continue our revenue recognition series on implementation issues related to ASU 2014-09, Revenue from Contracts with Customers, and address issues identified within the higher education sector.
Published on May 18, 2016

EBP Audits Avoid These Mistakes When Using SOC 1 Reports

Report EBP auditors will benefit from learning about common deficiencies identified by the DOL and the AICPA’s Peer Review program when it comes to using SOC 1 reports. This report also provides related guidance on proper auditing steps.
Published on May 18, 2016

Construction Contractor Disclosures Common Peer Review Deficiencies

Report This report identifies common disclosure deficiencies in the financial statements of construction contractors and provides illustrative disclosures.
Published on April 27, 2016

ASU 2016-04 Recognition of Breakage for Certain Prepaid Stored-Value Products

Report ASU 2016-04 establishes that liabilities from the sale of prepaid stored-value products are financial liabilities and the unredeemed dollar value of those products should be accounted for in a manner similar to the breakage guidance in the new revenue recognition standard in FASB ASC 606.
Published on April 27, 2016

ASU 2016-05 Derivative Contract Novations Effect on Existing Hedge Accounting Relationships

Report ASU 2016-05 clarifies that a change in the counterparty to a derivative contract does not require the dedesignation of a hedging relationship.
Published on April 27, 2016

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