Proposed AICPA Framework Accounting By Small & Medium-Sized Entities
...December 5, 2012 On November 1, 2012, the AICPA released an exposure draft of the much-anticipated private company financial reporting framework, entitled Financial Reporting Framework for Small and Medium-Sized Entities [FRF-SMEs]. As proposed, the F
Published on December 05, 2012
PCC Finalizes Issue 13-01a Identifiable Assets in a Business Combination
This report discusses a recently approved accounting alternative for private companies that have identifiable assets in a business combination
Published on October 22, 2014
Private Company Financial Reporting Detente At The NAAATS Town Hall
At the July 2012 National Advanced Accounting and Auditing Technical Symposium (NAAATS), then Financial Accounting Standards Board (FASB) chair Leslie Seidman spoke about the formation of the Private Company Council (PCC). Two years later, at the July 2014 NAAATS conference, three FASB members and three PCC members held a Town
Published on August 20, 2014
About the CPEA Professional Staff
The CPEA about us page describes the mission and staff of the CPEA. Provides biographical information about the AICPA employees and outside fellows who provide the services of the CPEA to members.
Published on October 06, 2014
Not For Profit Entities Recent Peer Review Findings
The AICPA Peer Review team recently released examples of matters identified in peer reviews related to not-for-profit entities. This report covers some of the more commonly identified issues, including tax disclosures, net assets classification and disclosure, donated goods and services, and the statement of functional expenses.
Published on September 17, 2014
Not-for-Profit Entity Fair Value Measurements Some AICPA Financial Reporting Whitepaper Guidance
For many involved in financial accounting and reporting processes of not-for-profit [NFP] entities, one of the more onerous challenges relates to properly-considering and, where applicable, properly-complying with the fair value measurement and disclosure requirements in FASB ASC 820.
Published on February 15, 2012
Revenue Recognition Convergence is Achieved What is Next
On May 28, 2014, the FASB and IASB issued a final, substantially converged revenue recognition standard. The revenue recognition standard, Accounting Standards Update [ASU] 2014-09, Revenue from Contracts with Customers, will substantially replace the numerous industry based accounting and audit guides, which have been codified in the FASB Accounting Standard
Published on June 18, 2014
Special Issues Related to Risks & Uncertainties
Volatility and uncertainty in the business and economic environment result in the need to disclose information about the risks and uncertainties confronted by reporting entities. FASB ASC 275 requires disclosures that focus primarily on risks and uncertainties that could significantly affect the amounts reported in the financial statements in the
Published on April 11, 2012