Improving the Clarity of Auditing Standards
The overall goal of the Clarity Project, a multiyear project of the Auditing Standards Board was to make the standards easier to read, understand and implement and to converge them with the International Standards on Auditing. Although the purpose of redrafting the auditing standards is for clarity and convergence and
Published on June 02, 2014
Measurement of Fair Value for Certain Transactions of Not-for-Profit Entities
...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
Whitepaper - Measurement of Fair Value for Certain Transactions of Not-for-Profit Entities
...issued a whitepaper, Measurement of Fair Value for Certain Transactions of Not-for-Profit Entitiesfacing 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 January 28, 2013
Summary of Differences Between Clarified SASs and Existing SASs
...S. generally accepted auditing standards (GAAS) easier to read, understand, and apply, the Auditing Standards Board (ASB) is in the process of redrafting all of the auditing sections in Codification of Statements on Auditing Standards to apply the clarity drafting conventions and to converge with
Published on April 08, 2014
SAS Clarity - Group Audits
AU-C 600, Audits of Group Financial Statements, is one of the most significant changes as a result of the Auditing Standards Board's Clarity Project. Find additional information and guidance for understanding the changes created by the ASB's Clarity Project.
Published on April 03, 2013
Not-for-Profit Entities - Correction of Net Assets Balances Reported in Prior Periods
Not for Profit entities may be required to change net asset classifications that were reported in a previous year. In these instances the not for profit entity would be required to make certain judgments and determinations. This excerpt provides further information.
Published on September 19, 2014
Airlines - Frequent Flyer Programs
The policies and estimation methods used to recognize service to be provided under Frequent Flyer Programs have a significant effect on the measurement and recognition of revenue and costs related to those programs. This guide excerpt contains more information.
Published on July 22, 2011
ARSC Clarity Project
Statements on Standards for Accounting and Review Services No. 21 Released! Statements on Standards for Accounting and Review Services No. 21, Statements on Standards for Accounting and Review Services: Clarification and Recodific
Published on October 23, 2014
Airlines - Leased Property and Equipment
Aircraft leasing has diversified into a sophisticated financial market, resulting in a number of complex leasing structures and their tax status, because many aircraft leasing structures are designed to transfer tax benefits to the lessor from the airline. This guide excerpt provides more information.
Published on October 19, 2011
Recently Issued Technical Questions and Answers
The questions and answers in this section are not sources of established authoritative principles. This material is based on selected practice matters identified by the staff of the AICPA's Technical Hotline and various other bodies within the AICPA and has not been approved, disapproved, or otherwise acted upon by any
Published on September 26, 2014