Accounting for Contingencies in Business Combinations
On April 1, 2009, the FASB Staff issued FASB Staff Position [FSP] FAS 141R-1, entitled Accounting for Assets Acquired and Liabilities Assumed in a Business Combination That Arise from Contingencies. The guidance in the FSP amends the guidance in SFAS No. 141R so that most...
Published on April 15, 2009
Accounting Guidance for Condensed Interim Reports
In February 2009, the Auditing Standards Board [ASB] and the Accounting and Review Services Committee [ARSC] simultaneously released a new SAS [ASB] and a new SSARS [ARSC], that clearly-stipulate how reviews of interim financial information should be performed, where...
Published on March 18, 2009
Accounting for Company-Owned Insurance Programs
Now that reporting entities [and practitioners associated with those entities] have “entered” calendar-year 2008, some of the accounting authoritative literature guidance that becomes effective in the first quarter of 2008 calendar-years is being considered carefully
Published on January 09, 2008
Accounting for Intangible Assets Other Than Goodwill
While much of the discussions and accounting authoritative technical literature related to intangible assets has a focus on recognition, measurement, impairment, and disclosure issues related to goodwill, preparers of financial statements often need to address accounting...
Published on December 19, 2012
Accounting for Customer Loyalty Programs
Given the lack of accounting guidance in the U.S. related to customer loyalty programs, and given the “frequency” that reporting entities [and practitioners associated with those entities] need to address the accounting for...
Published on January 09, 2008
Accounting For Operating Leases Amortizing Improvements & Nonlevel Rents & Incentives
While most current discussions related to accounting for leases are focused on new guidance being developed by FASB and the IASB that will change the landscape associated with lease accounting, some questions still arise in accounting...
Published on May 22, 2013
ASU 2013-05 (FASB ASC 830) Accounting for Cumulative Translation Adjustments
Accounting Standards Update [ASU] 2013-05 resolves a practice diversity in circumstances where reporting entities release cumulative translation adjustments into net income when a parent either sells a part or...
Published on March 05, 2013
Special Issues Related to Investments
Accounting for investments in debt and equity varies, depending on several factors: the type and marketability of the investment, management’s intended holding period for the investment, the nature of...
Published on July 22, 2009
ASU 2014-08 (FASB ASC 205 and 360) Reporting Discontinued Operations
Accounting Standards Update [ASU] 2014-08 amends the guidance in FASB ASC 205 and FASB ASC 360 to change the definition of discontinued operations and criteria for reporting discontinued operations...
Published on April 11, 2014
FASB Issues ASU 2013-02 (FASB ASC 220) New Comprehensive Income Display Guidance
Accounting Standards Update [ASU] 2013-02 amends the guidance in the FASB ASC 220 to improve the transparency of reporting reclassifications out of accumulated other comprehensive income
Published on February 06, 2013