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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
Time-consuming government-reporting requirements on the horizon
Summary provided by MaterialAccounting.com: This article discusses upcoming changes to the financial reporting requirements under GASB. --- The pace of issuance and implementation of new Governmental Accounting Standards Board statements continues to accelerate. Not...
FASB proposes to add guidance on accounting for profits interest awards
Summary provided by MaterialAccounting.com: This article summarizes the FASB's proposed changes to the accounting standards. The Financial Accounting Standards Board proposed an accounting standards update Thursday that would add illustrative guidance to help...
Exploring the Differences Between IFRS and GAAP
Summary provided by MaterialAccounting: This article compares and contrasts IFRS and GAAP, including examples. -- The world of financial reporting operates on two major frameworks. These include International Financial Reporting Standards (IFRS) and Generally...
Will AI be the End for Accountants?
Summary provided by MaterialAccounting.com: This article provides insights into the way accountants are reacting to the rise of artificial intelligence. Will artificial intelligence (AI) replace accountants? As someone who’s worked in, and has been trying to get out...
FASB Amends Lease Accounting for Common Control Arrangements
Summary provided by MaterialAccounting: This article discusses the recent FASB update for arrangements between entities under common control. The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-01, Leases (Topic 842): Common...
Accounting for Leases under IFRS 16: An Overview
Summary provided by MaterialAccounting.com: This article provides an overview of the lease accounting standard, IFRS 16. Lease accounting…a broad accounting topic that transcends industries and, under IFRS 16, makes its way to most balance sheets. It’s hard to...
Post-Transition Policy and Procedure Considerations for Lease Accounting
Summary provided by MaterialAccounting.com: This article provides everything you need to know about post-transition lease accounting. ------- Wondering what’s next after successfully transitioning to ASC 842? Whether a company is using a lease accounting software or...
Best practices for implementing the new lease accounting standard
Summary provided by MaterialAccounting: This article describes the best tips for implementing ASC 842. The new standard requiring all leases longer than 12 months to be recorded on balance sheets is now in effect for nonpublic companies with a fiscal year beginning...