Genuine Learning Blog: Updated Statements on Standards for Tax Services
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, [...]
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 [...]