by CPA Journal | Dec 17, 2020 | Articles, Goodwill Accounting, Intangible Assets, Lease Accounting
In Brief For the last seven years, Russell G. Golden has served as FASB’s chairman. During this time, and for the nine years previously, he has seen the standards setter face numerous challenges in its mission to improve the quality and reliability of financial...
by CPA Journal | Aug 26, 2020 | Articles, Auditing, CECL, Investment Accounting
Summary provided by MaterialAccounting.com: FASB’s new CECL standard is creating issues for auditors and other users. Learn how it could impact you in the article below. In Brief Although its full implementation has been delayed, FASB’s new standard on current...
by CPA Journal | Aug 19, 2020 | Articles, Auditing, CECL
In Brief After years of deliberation and comment, FASB’s long-awaited standard on accounting for credit losses, in the form of ASU 2016-13, was finally issued in 2016 and became effective in 2020. The implementation of this complex and controversial standard has...
by CPA Journal | Jun 15, 2020 | Articles, Auditing, Debt, Going Concern, Loans
In Brief The worldwide COVID-19 pandemic has affected businesses of every size in every country, and the United States has been hit particularly hard. Many businesses are facing increasing doubts about their ability to continue as a going concern, and the decisions...
by CPA Journal | Jun 8, 2020 | Articles, Auditing, Expense Accounting, GASB, GASB 34, Going Concern, Government Accounting, Impairment, Income Taxes
Summary provided by MaterialAccounting.com: COVID-19 has changed the way financial reporting and audits operate. This article explores possible audit scope limitations and other issues. In Brief The COVID-19 pandemic has disrupted life around the world, but business,...
