Accounting for Contingencies
Contingencies are existing uncertainties that may have financial impact, depending on future events. Loss contingencies are those that may result in the incurrence of a liability or the impairment of an asset. Gain contingencies are those that may result in the...
Published on January 07, 2009
Special Issues Related to Asset Retirement Obligations
FASB ASC 410 provides the authoritative guidance for the classification and measurement of obligations arising from the future cost of retiring long-lived tangible assets
Published on October 26, 2011
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
FASB/PCC Private Company Accounting Alternatives Preferability Questions Under FASB ASC 250
This report provides some background on the issue of preferability, as well as addresses some of the common questions and concerns as they relate to the private company accounting alternatives.
Published on March 18, 2015
The CPEA Revenue Recognition Series- Part II Fortune Favors the Prepared
This report is the second in our series on adoption of ASU 2014-09, Revenue from Contracts with Customers
Published on November 19, 2014
Special Issues Related to the Statement of Cash Flows
According to SFAS No. 95, Statement of Cash Flows, the primary objective of a statement of cash flows is to provide relevant information about the cash receipts and cash payments of an entity during a period.
Published on May 13, 2009
Broker-Dealer Audits PCAOB Continues to Identify Issues
The Public Company Accounting Oversight Board [PCAOB] recently announced that they continue to find many issues with audits of broker-dealers, despite some improvements.
Published on June 09, 2014
Controversy Over the Applicability of the Disclosure Requirement of Open Tax Years Unintended Consequences and Lessons f...
This report covers the applicability of a seemingly benign, but ambiguous, disclosure requirement of FIN 48 to provide a description of tax years open to examination.
Published on March 18, 2015
FASB ASC 740 Disclosure Illustrations - Uncertain Tax Positions
Now that reporting entities that are private companies need to implement the full provisions of FASB ASC 740, questions have been raised as to how the guidance appropriately should be implemented in financial statements. In particular questions have arisen as to how the guidance needs to be reflected in financial
Published on February 17, 2010
Special Report ASU 2014-07 FASB ASC 810 - Implementation Issues
Subsequent to the issuance of FASB ASU 2014-07 in March, several questions have been raised as to how the guidance should be implemented when the election is made to use the guidance in the preparation of private company financial statements. As such, discussions in these materials are focused on providing
Published on June 11, 2014