by CPA Journal | Apr 29, 2020 | Articles, GASB, GASB 87, Government Accounting, Lease Accounting
Summary provided by MaterialAccounting.com: This article explains the impact GASB 87 will have on lease accounting for state and local governments. Effective for fiscal years beginning January 1, 2020, a new approach for accounting and reporting leases will be...
by CPA Journal | Apr 15, 2020 | Articles, ASC 606, ASC 840, ASC 842, Lease Accounting, Revenue Recognition
Summary provided by MaterialAccounting.com: This article summarizes and describes practical expedients provided under ASC 842. . . The new lease accounting guidance in Accounting Standards Codification (ASC) Topic 842, “Leases,” is currently in effect for public...
by CPA Journal | Mar 26, 2020 | Articles, Auditing
Since 1973, GAAP (APB Opinion 28) has recognized the acceptability of presenting condensed interim information by public companies as provided for in Article 10 of the SEC’s Regulation S-X. Occasionally, a privately held company or a government entity inquires as to...
by CPA Journal | Feb 7, 2020 | Articles, Investment Accounting, US GAAP Accounting
The securitization of trade receivables is a multibillion-dollar sector, and it is growing. It is vitally important that U.S. GAAP correctly reflect the economics of these transactions. This article argues that, in essence, cash inflows resulting from a transferor’s...
by CPA Journal | Dec 4, 2019 | Articles, Equity Securities, Goodwill Accounting, Intangible Assets, Investment Accounting
In Brief As CPAs continue to expand into providing financial and other advisory services, one area of interest is business valuation services. The author explains how business valuation factors into financial reporting, tax compliance, and litigation. He details the...
