by GAAP Dynamics | Jun 7, 2022 | Articles, Assurance
Back in my day (gosh, that makes me sound old), audit quality wasn’t really a “thing.” Sure, we did what we thought were good audits, and occasionally they might get reviewed, either internally or by an external firm, but these peer reviews were always rather...
by GAAP Dynamics | May 31, 2022 | Articles, Debt, Financial Services, Industry Accounting, Loans, Sales, Transfer
Repurchase agreements, securitizations, and loan participations are all common transactions executed by banks. Unfortunately, these common transactions can be quite the source of “trouble,” as they involve the transfer of financial assets. ASC 860, Transfers and...
by GAAP Dynamics | May 17, 2022 | Articles, Impairment
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:...
by GAAP Dynamics | Apr 19, 2022 | Articles, IFRS Accounting
IFRS 9 fundamentally changed the way financial instruments were accounted for and reported under IFRS. The standard was issued in various phases, taking years to develop and issue. Given the topic and the extent of the changes in the standard, it generally takes hours...
by GAAP Dynamics | Feb 22, 2022 | Articles, ASC 842, Lease Accounting, US GAAP Accounting
Summary provided by MaterialAccounting.com: Do you need help adopting ASC 842? The article below provides information about transition requirements the practical expedients available that may help with transition. ASC 842, Leases became effective for public...
