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The Center for Plain English Accounting is the AICPA’s national A&A resource center, available exclusively to members of the Private Companies Practice Section. The CPEA’s team of experts assists member firms in understanding and implementing accounting, auditing, review, compilation, and quality control standards by sharing technical advice and guidance in a straight-forward manner. CPEA professional staff provide A&A support by describing “how to do” what you “need to do” in implementing the authoritative literature.

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lock ASU 2016-04 Recognition of Breakage for Certain Prepaid Stored-Value Products
ASU 2016-04 establishes that liabilities from the sale of prepaid stored-value products are financial liabilities and the unredeemed dollar value of those products should be accounted for in a manner similar to the breakage guidance in the new revenue recognition standard in FASB ASC 606.
Two Projects Added to FASB Agenda lock ASU 2016-05 Derivative Contract Novations Effect on Existing Hedge Accounting Relationships
ASU 2016-05 clarifies that a change in the counterparty to a derivative contract does not require the dedesignation of a hedging relationship.
CPEA May 4, 2016 Webinar
In this webinar, we provide an A&A Update, an EBP Update, and we cover the new lease accounting standard.


SSARS No. 21: Background behind the Changes

In this brief educational video, experts involved in the development of SSARS No. 21 discuss the reasons why the pre-SSARS No. 21 professional literature required revision and clarification.

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