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
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
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
NFP Entity Financial Reporting Issues Fair Value Measurements and Disclosures
Issues with fair value measurements and related disclosures are certainly not isolated to not-for-profit [NFP] entities. However, these issues can be more prevalent for NFP entities.
Published on November 20, 2013
Special Issues Related to the Statement of Cash Flows
According to SFAS No. 95, Statement of Cash Flows, the primary objective of a statement of cash flows is to provide relevant information about the cash receipts and cash payments of an entity during a period.
Published on May 13, 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
Compensated Absences, Postemployment Benefits, and Bonus Agreements
The primary authoritative literature that addresses compensated absences is FASB ASC 710.
Published on July 08, 2009
Personal Financial Statements
Personal financial statements are prepared for individuals either to formally organize and plan their financial affairs in general or for specific purposes, such as obtaining credit, income tax planning, retirement planning, gift and estate planning, or public disclosure of their financial affairs.
Published on July 09, 2008
Special Issues Related to Foreign Currency Translation
FASB ASC 830 deals with two main subjects: translation of foreign currency financial statements and foreign currency transactions.
Published on February 03, 2010
Special Issues Related to Commitments and Contingencies
FASB ASC 440 provides an overall accounting and disclosure model for unconditional purchase obligations, as well as reference to other types of commitments. FASB ASC 450 addresses accounting for contingencies.
Published on May 25, 2014