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MaterialAccounting strives to be a leading source of financial accounting information. We keep our readers up to date on the latest accounting news and aim to provide relevant information to anyone involved in the accounting and finance world.
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Our mission is to simplify financial accounting for accounting professionals who seek a comprehensive resource to help grow their understanding of the subject. Whether you’re an experienced accountant or a business owner trying to expand your accounting knowledge, we are here to help.
Recent Articles
Accounting for Your Software Costs
Summary provided by MaterialAccounting.com: This article provides an update on the FASB's developing rules for disclosing and presenting software costs. ---- What do Tesla cars, smart TVs and equipment used for making french fries have in common? The answer is...
Watch out: Top focal points for audit season
Summary provided by MaterialAccounting.com: Are you ready for audit season? This article explores top tips for upcoming audits, including potential trouble spots. -- As companies look ahead to audit season, it's more important than ever to stay aware of the major...
The New Lease Accounting Standard Is Here, Are You Ready?
Summary provided by MaterialAccounting.com: This article provides an overview of the new FASB standard, ASC 842, including the definition and what changes to expect during the transition. The new lease standard, Financial Accounting Standards Board (FASB) ASC 842, is...
ASC 842: The New Lease Accounting Standards Explained with Examples, Effective Dates, & More
Summary provided by MaterialAccounting.com: This article provides everything you need to know about the new lease accounting standard, ASC 842. What is ASC 842? ASC 842, or Topic 842, is the new lease accounting standard issued by the FASB and governs how entities...
FASB proposes to add recognition, derecognition guidance to conceptual framework
Summary provided by MaterialAccounting.com: This article discusses a new FASB proposal, guiding how we think about the items in financial statements. The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework discussing the...
Documenting ASC 842 Policies and Procedures
Summary provided by MaterialAccounting.com:This article discusses the new lease accounting standards, ASC 842, and the best procedures to use for implementation. As with any new standard update, adopting ASC 842 will require the implementation of new policies...
ASC 842 Lease Accounting: Frequently Asked Questions
Summary provided by MaterialAccounting.com: This article answers some of the most frequently asked questions regarding the FASB standard, ASC 842. November 16, 2022 As year-end is quickly approaching and annual reporting requirements come into play, companies...
Why Fixed Asset Software Isn’t Suitable for the New Lease Accounting Standards
Summary provided by MaterialAccounting: This article discusses the reasons why fixed asset software won't work for the transition to the new standard, ASC 842. Prior to the introduction of the new lease accounting standard, ASC 842, many organizations grouped their...