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    Improving the Clarity of Auditing Standards

    Article 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

    Article ...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

    White Paper ...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

    Overview ...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

    Article 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

    Article 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

    Article 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

    FAQ The Accounting and Review Services Committee continues to work to clarify the Statements on Standards for Accounting and Review Services and have released an updated timeline for their completion.
    Published on September 29, 2014

    Airlines - Leased Property and Equipment

    Article 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

    Article 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

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