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    Compensated Absences, Postemployment Benefits, and Bonus Agreements

    Report 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

    Report 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

    Report 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

    Report 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

    Report 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

    Report 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

    Report 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

    Report 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

    Report 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

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