Compensated Absences, Postemployment Benefits, and Bonus Agreements
The primary authoritative literature that addresses compensated absences is FASB ASC 710.
Published on July 08, 2009
OMB Circular A-133 Audits Common Findings and Deficiencies
Recently, the AICPA Ethics Division compiled a list of deficiencies frequently identified in investigations of the Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments and Non-Profit Organizations audits over the last 2 years. The focus of this report will be on the more...
Published on August 20, 2014
Designing Analytical Procedures in a Review Engagement
In performing the inquiry and analytical procedures for a review engagement, it is important to understand that these performance requirements are not to be performed in a “mechanical” manner.
Published on July 07, 2010
Performing Review Engagements A Reminder About Some Practice Issues
It sometimes is noticed that practitioners face greater challenges in complying with review engagement technical literature when compared to compilation and audit engagement technical literature requirements.
Published on August 14, 2013
Employee Stock Ownership Plans Unique Accounting and Reporting Issues for Employers
An employee stock ownership plan (ESOP) is a specific way to share ownership with employees and a way to provide tax benefits to the company, those who sell stock to the ESOP, and employees. Employers’ accounting for ESOPs is governed by FASB Accounting Standards Codification (FASB ASC) Topic 718, Compensation—Stock
Published on July 16, 2014
Compilation & Review Engagement Guide Implementation Issues
Until the April 2010 issuance of the AICPA Guide, there had been no Accounting and Auditing Guide that existed in order to help practitioners implement compilation and review guidance in the SSARSs technical literature. Now, that practical implementation guidance is available, and it needs to be utilized as authoritative guidance
Published on July 21, 2010
The CPEA Revenue Recognition Series Fortune Favors the Prepared
The effective date of Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, may still be a few years away. However, we feel that the magnitude of the changes in financial reporting and, more significantly, the conduct of business in the economy necessitate advance planning. In this report we
Published on August 20, 2014
Special Issues Related to Asset Impairment
Impairment models under U.S. GAAP vary depending on the asset subject to the impairment test.
Published on August 05, 2009
Revisiting the Guidance Related to Variable Interest Entities
In January 2003, the FASB issued FASB Interpretation (FIN) 46. Less than a year later, the FASB significantly revised the guidance and issued FASB Interpretation 46 (Revised 2003), Consolidation of Variable Interest Entities (FIN 46R).
Published on June 08, 2011