Auditing & Accounting

While we often think of accounting and auditing when we think standards, tax professionals are also subject to standards which are changing effective January 1, [...]

This blog will cover the second phase of the International Non-Profit Accounting Guidance by looking at Exposure Draft 2 and its proposed guidance for nonprofits. [...]

The AICPA has released their 2023 National Management of an Accounting Practice (MAP) Survey Executive Summary. This summary can help firms benchmark themselves against the [...]

The GASB recently proposed to separate out disclosures of various types of assets to help users understand the types of assets. Due to the creation [...]

The AICPA's Auditing Standards Board has issued a proposed SSAE to conform the attestation standards with the new quality management suite. Comments are due December [...]

The FASB has issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60) Recognition and Initial Measurement, to address diversity in practice with respect to the [...]

On October 5th, the Office of Management and Budget proposed changes to the Uniform Guidance. One of the most noteworthy changes is a proposal to [...]

This blog will review the accounting, auditing and ethics standards issued or proposed during the 3rd quarter of 2023. We'll also review some resources that [...]

Last month the FASB issued their investor outreach report which outlines the outreach performed by the FASB to get feedback from investors as part of [...]

OMB has updated regulations with respect to the domestic preferences provisions in the Build America, Buy America Act of the Infrastructure Investment and Jobs Act. [...]

By Walda Wildman, CPA All kinds of big companies are playing up their compliance with ESG standards. However, those companies haven’t had any codified standards to use in preparing [...]

In August, the FASB issued Chapter 5 of the Conceptual Framework, Recognition and Derecognition. The chapter addresses the criteria that would be used to determine [...]

The FASB has issued a new Concept Statement around the Reporting Entity. While concept statements are not authoritative GAAP they are the theory that underlies [...]

The International Sustainability Standards Board (ISSB) has proposed a Sustainability Disclosure Taxonomy. The proposal addresses a taxonomy for the disclosure requirements in IFRS S1 and [...]

Each year like many nonprofits, the FAF issues their annual report and posts it to their website. The FAF provides an excellent overview of the [...]

At the end of July, the FASB proposed new disclosure requirements that would require public business entities to provide more disaggregated data around their income [...]

In June, the FASB proposed changes to the accounting for purchased financial assets. Based on feedback obtained in its post-issuance review of CECL, stakeholders found [...]

On July 21st, the Office of Chief Counsel at the IRS issued a memorandum to address noncompliance with ERTCs. The memorandum provides responses to various [...]

This week's Genuine Learning Blog looks at IFRS S2 - Climate-related Disclosures. Issued the same day as S1, these disclosures focus on strategy, governance, metrics and risk [...]

The second quarter of 2023 was a slower one for standard setters. We'll look at the standards that were issued and proposed from April through June of [...]