Significant Changes Coming to U.S. GAAP
FASB and the IASB continue to work to improve accounting and financial reporting across the globe. The "Big 3" accounting topics, Revenue Recognition, Leases and Financial Instruments, continue to receive...
Published on May 21, 2013
FASB and the IASB have release for exposure a draft of a new standard on the accounting for leases. The AICPA has gathered need to know information with respect to...
Published on May 28, 2014
Private Company Financial Reporting Overview
On May 23 the Financial Accounting Foundation announced its decision to make process and structural improvements in private company financial reporting by creating a new Private Company Council. The chairman and members of the PCC were named in September.
Published on January 05, 2015
All the up-to-date information on the FASB Financial Instrument Accounting Project can be found here
Published on May 28, 2014
Brief Revenue Recognition Primer for Audit Committees
This document will focus on the guidance in FASB ASU No. 2014-09 and will assist audit committees in understanding the changes it affects
Published on June 12, 2014
Private Company Financial Reporting Committee Activities
...The Financial Accounting Standards Board (FASB) and the American Institute of Certified Public Accountants (AICPA) have embarked on a major initiative to further improve the FASB’s current standard-setting process to consider the needs...
Published on July 21, 2010
Financial Reporting Brief Roadmap to Understanding the New Revenue Recognition Standards
This document reorganizes the guidance contained in FASB ASC 606 (revenue recognition standard), to follow the five step revenue recognition model along with other guidance impacted by this standard. Additionally, it provides reference to applicable examples in...
Published on July 02, 2014
New Revenue Recognition Accounting StandardLearning and Implementation Plan
This document will focus on the guidance contained in FASB ASU 2014-09 and provide a roadmap for understanding and implementation
Published on January 21, 2015
Measurement of Fair Value for Certain Transactions of Not-for-Profit Entities
The AICPA has developed the included whitepaper to assist not-for-profit entities (NFPs) in addressing the various challenges in applying the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820, Fair Value Measurement, which codifies FASB Statement No. 157, Fair Value Measurements
Published on November 17, 2011
Health Care Entities Revenue Recognition Task Force
The Health Care Entities Revenue Recognition Task Force has been created to address issues which may arise due to FASB's new revenue recognition standard. Here you will find the issues identified and further discussion
Published on January 07, 2015