AU-C Section 505 External Confirmations
In implementing the clarified auditing technical literature guidance, auditors will notice some modifications associated with requirements that need to be addressed when using external confirmations to support their audit opinions.
Published on October 24, 2012
NFP Entity Financial Reporting Issues Fair Value Measurements and Disclosures
Issues with fair value measurements and related disclosures are certainly not isolated to not-for-profit [NFP] entities. However, these issues can be more prevalent for NFP entities.
Published on November 20, 2013
Peer Review Feedback -- Some Frequently-Encountered Deficiencies
In the peer review process, peer reviewers document areas where firms encounter difficulties in complying with attest engagement technical literature requirements.
Published on June 05, 2013
Partnership Accounting Some Unique Issues
Partnerships can have some unique accounting issues that are not addressed in the authoritative accounting literature. This report addresses these unique issues, such as methods of accounting for partner contributions, partner loans, transfer of a partner’s interest, allocation of salaries and bonuses, and other areas along with examples and illustrations.
Published on May 21, 2014
Statement of Cash Flows Guidance on Some Common Issues
This report provides guidance on some common issues with the statement of cash flows that financial statement preparers and practitioners encounter.
Published on October 22, 2014
Compensated Absences, Postemployment Benefits, and Bonus Agreements
The primary authoritative literature that addresses compensated absences is FASB ASC 710.
Published on July 08, 2009
Implementing ASU 2010-25 Participant Loans in Defined Contribution Plans
October 12, 2010 On September 28, 2010, the FASB released Accounting Standards Update [ASU] 2010-25, entitled Reporting Loans to Participants by Defined Contribution Pension Plans. The guidance amends currently-utilized guidance in FASB Accounting
Published on October 12, 2010
Special Issues Related to Accounting for Debt
Issues relating to recognition (when an item should be included in the financial statements) and measurement (at what amount the item should be reported) are not that difficult when it comes to long-term debt. On the other hand, issues relating to presentation and disclosure can be problematic.
Published on March 09, 2009
Current Economic Environment Some Accounting & Reporting Issues
While some signs exist related to the economy stabilizing, many reporting entities still are facing significant challenges because of the economic downturn. In some cases, the issues that existed in 2008 financial reporting have been exacerbated in 2009 because of the lingering effects associated with the downturn.
Published on November 09, 2009
AU-C Section 530 Sampling in Financial Statement Audits
In implementing the clarified auditing technical literature guidance, auditors will notice some modifications associated with requirements that need to be addressed when using statistical and nonstatistical sampling in audit engagements.
Published on November 21, 2012