About Us
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.
Our Mission
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
It’s Time for Accountants to Embrace Fintech
Summary provided by MaterialAccounting: This article discusses the use of fintech in the accounting industry and the reasons why it should be used. “What comes to mind when you hear the word ‘fintech’?” Michael Ly asked the packed room during his session at...
Overview of IAS 36 Impairment of Assets & Impact of Market Disruption
Pandemics, growing inflation, war, market instability, shortages on everything from labor to baby formula…it feels like all this year is missing is a plague of locusts! Oh wait, didn’t that happen last year? With all of this market disruption, it begs the question:...
Considering Starting a Restaurant? Here’s What You Need to Know
Whether you’re a new owner or considering a second location, expanding within the foodservice industry is an exciting decision, but it also comes with several items to navigate. Below are a few first steps any restaurant owner should think about before opening their...
FASAB proposes changes in federal lease accounting
Summary provided by MaterialAccounting.com: This article discusses the recent updates from The FASAB. The update provides technical clarification and amendments on lease accounting. --- The Federal Accounting Standards Advisory Board is looking for feedback on an...
GASB releases omnibus guidance updating various standards
Summary provided by MaterialAccounting.com: This article highlights The GASB's updated guidance for different accounting issues. The Governmental Accounting Standards Board issued guidance Monday to address different accounting and financial reporting issues...
Lease Payments: Establishing the Initial Lease Liability & ROU Asset under ASC 842
Summary provided by MaterialAccounting.com: This article provides information about the next steps to take in your ASC 842 transition after compiling your lease portfolio and determining important dates, which is establishing your initial lease liability and ROU...
Goodwill in a Bad Economy
Summary provided by MaterialAccounting.com: This article provides information about the value of acquired goodwill and testing for impairment in the current economy. --- In today’s volatile economy, many businesses and non-profits have been required to write down the...
Rental Property Income Tax: Why Active or Material Participation Matters
Owning rental real estate can be a great supplemental source of income in addition to a normal day job. What is most commonly misunderstood about this type of investment is how an individual can treat the income and or losses for tax purposes. Determining your level...