AICPA News Update Vol. 14 No. 46 

    Published October 28, 2011

    AICPA

    AICPA News Update

    A Weekly Email Newsletter on Issues & Events Surrounding the CPA Profession

    In This Update:

    October 28, 2011 - Volume 14 No. 46

    Free Webinar Offering CPE: Understand FAF’s Proposal on Private Company Financial Reporting and the AICPA’s Response
    ASEC Extends Comment Period on XBRL Exposure Draft to November 30
    AICPA Releases White Paper on Fair Value Measurement for NFPs
    AICPA Accounting Competition Semi-finalist Teams Announced
    Catch up on Professional News in These Publications
    Call for Submissions: Book Honoring Sidney Kess
    Free Webinar Offering CPE: Understand FAF’s Proposal on Private Company Financial Reporting and the AICPA’s Response

    This live webinar, Private Company Financial Reporting: FAF's Proposal Up Close, to be held 2-3 p.m. Eastern on November 4, features Barry Melancon, CPA, AICPA president & CEO, and Paul Stahlin, CPA, former AICPA Chairman of the Board. They will explain the Financial Accounting Foundation’s (FAF) proposal to establish the Private Company Standards Improvement Council and the AICPA’s position that it will not bring long-term, effective change to private company financial reporting. One CPE credit is available for free. Register today as space is limited. The webinar will be re-broadcast November 7 (with a live moderator), also offering one free CPE credit.

    Back to Top
    ASEC Extends Comment Period on XBRL Exposure Draft to November 30

    The XBRL Assurance Task Force of the AICPA Assurance Services Executive Committee has extended the comment period on Proposed Principles and Criteria for XBRL-Formatted Information. The full exposure draft, dated June 1, 2011, includes principles and criteria for preparers, reviewers and practitioners to use in evaluating information formatted in eXtensible Business Reporting Language (XBRL). To provide feedback, address your comments to Ami Beers, Manager of Business Reporting, Assurance and Advisory Services, at abeers@aicpa.org. Comments are requested by November 30.

    Back to Top
    AICPA Releases White Paper on Fair Value Measurement for NFPs

    Not-for-profit entities face various challenges in applying the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Codification 820, Fair Value Measurement, which codifies FASB Statement No. 157, Fair Value Measurements. To assist practitioners, the AICPA has issued a white paper, Measurement of Fair Value for Certain Transactions of Not-for-Profit Entities, which discusses fair value measurement for unconditional promises to give cash or other financial assets, beneficial interests in trusts and split interest agreements. AICPA members may download the white paper for free.

    Back to Top
    AICPA Accounting Competition Semi-finalist Teams Announced

    The 2011 AICPA Accounting Competition has launched with more than 705 participants, representing 147 colleges and universities, signed up for round one. Moreover, 122 teams had submitted proposals. Now, the AICPA has announced the 10 semi-final teams. Find out which teams made it to round two of the competition. Help the semi-finalists make it to the finals by voting on November 14, when their videos will be posted for the public voting period.

    Back to Top
    Catch up on Professional News in These Publications

    New issues of CPA professional publications and AICPA Insights blog posts are now available. Get up to speed on recent developments.

     

    Back to Top
    Call for Submissions: Book Honoring Sidney Kess

    The AICPA invites you to be part of a tribute to Sidney Kess, CPA, JD, LLM, a long-time speaker, writer, and teacher for the CPA profession and a dedicated volunteer. The AICPA's Publications Team is putting together a book honoring Sid's many contributions to the CPA profession. The team is seeking submissions from CPAs whose lives have been influenced by Mr. Kess, whether through attending a workshop or a conference, or through a personal relationship with him. If you are interested in submitting your story or learning more, please send an email to lessonsfromsid@aicpa.org or download the submission form. The deadline for submissions is November 18.

    Back to Top



    A A A


     
    Copyright © 2006-2014 American Institute of CPAs.