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
FASB Issues SFAS No. 163 Financial Guarantee Insurance
In May 2008, the FASB issued SFAS No. 163, entitled Accounting for Financial Guarantee Insurance Contracts
Published on May 27, 2008
Comfort Letters & Other Verification Documents Risks & Professional Requirements
It is not uncommon for practitioners to receive request from clients, lenders, loan brokers, health insurance providers, adoption agencies, regulators, and a variety of other agencies to confirm client information
Published on May 08, 2013
FSP Guidance Related to Accounting for Investment Companies
On December 29, 2005, the FASB Staff issued FASB Staff Position [FSP] Nos. AAG INV-1 and SOP 94-4-1 [combined]. This FSP guidance includes a description of the limited circumstances where the net assets of an investment company [or a fund] must reflect the contract value [which generally equals the principal balance
Published on January 11, 2006
Statement of Cash Flows Display Issues
When reporting entities [and practitioners associated with those entities] are preparing [and reporting on] financial statements, sometimes questions arise related to the appropriate classification of items, events, and transactions within the statement of cash flows.
Published on May 16, 2007
Disaster Losses Focusing on Accounting & Reporting Matters
Businesses operating in locations where disasters occur commonly need to address negative ramifications associated with disastrous events, where those ramifications can be significant both in the short-term and in the long-term.
Published on January 16, 2013
CPEA Special Report Addressing Regulatory Reports & Verification Requests
This Center for Plain English Accounting special report includes some information on how certain regulatory reporting issues should be addressed and how certain verification requests from clients and third parties might be handled.
Published on November 06, 2013
OCBOA Financial Statements Some Practical Considerations
As financial accounting and reporting using U.S. GAAP becomes increasingly complex, where acceptable to end-users of financial statements, more and more reporting entities are making the election to have financial statements prepared using an other comprehensive basis of accounting [OCBOA]
Published on December 09, 2009
SFAS No. 161 - New Derivatives & Hedging Disclosure Guidance
In March 2008, the FASB issued SFAS No. 161, entitled Disclosures about Derivative Instruments and Hedging Activities.
Published on April 02, 2008
New Technical Practice Aid Guidance Addressing Various Issues
In June 2010, the AICPA released a flurry of Technical Practice Aid [TPA] guidance that addresses a wide-variety of accounting and reporting issues.
Published on July 21, 2010