The Accounting Standards Executive Committee (AcSEC) comment letter on the joint FASB/IASB Discussion Paper, Preliminary Views on Revenue Recognition in Contracts with Customers
Published on July 11, 2011
File Reference No. 1820-100 Exposure Draft of a Proposed Accounting Standard Update - Revenue from Contracts with Custo...
...FinREC), formerly known as the Accounting Standards Executive Committee (AcSEC), of the American Institute of Certified Public Accountants comments on the Exposure Draft of the Proposed Accounting Standards Update, Revenue from Contracts with Customers (the Exposure Draft). FinREC supports the boards' overall goal
Published on July 11, 2011
FASB Comment Letter Archive
The AICPA takes opportunities to comment on Discussion Papers and other various standard setting items. Included are archived items.
Published on July 15, 2011
AICPA Comments on Notice 2005-74 on the Effect of Exchanges on Gain Recognition Agreements
The AICPA recommends that a successor transferor in an asset reorganization be permitted to assume the obligations associated with an original gain recognition agreement (GRA) for the remaining term of that GRA without triggering gain recognition
Published on April 30, 2010
AICPA Suggestion on Gift Card Income Wins IRS Approval
The CPA Advocate: September, 2013. The IRS has modified rules for the deferral of income from gift card sales, ass recommended by the AICPA.
Published on September 05, 2013
AICPA Asks IRS to Apply Anti-Mixing Bowl Changes Prospectively Only
AICPA offers comments to the IRS and Department of Treasury on Revenue Ruling 2004-43, which specifically addresses the application of sections 704(c)(1)(B) and 737 to the distribution of property by a partnership following an assets-over partnership...
Published on July 18, 2013
AICPA Comments on Proposed Open Account Debt Regs
September 6, 2007. In response to the 2005 Brooks Tax Court case ruling that taxpayers had valid open account debt even though large advances were made at year end only to be repaid in the first few days of the new year (taxpayers repeated this process for several consecutive years),
Published on April 16, 2010
Accounting and Financial Reporting Positions and Comment Letters
The Financial Reporting Executive Committee (FinREC) has issued the following comment letters to communicate its views and positions on accounting and financial reporting proposals issued by standard setters, such as FASB, GASB, and the IASB.
Published on February 06, 2014
AICPA Urges Congress to Make S Corporation Reforms
AICPA provides written testimony before Congress in support of the Subchapter S Modernization Act of 2003.
Published on September 28, 2012
AICPA Suggests Improvements to Form 1023
On December 2, 2002, AICPA makes suggestions to the IRS for improvements to Form 1023, the Application for Recognition of Exemption for nonprofit organizations
Published on November 12, 2012