September 7, 2022
Lease transactions have been engaged in by corporations for decades. As with other issues in financial reporting, accounting rule makers have desired to provide useful information about leasing in the financial statements. In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-02, which led to the creation of a new accounting standard for leases, Accounting Standards Codification 842.
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September 6, 2022
The Accounting and Auditing Policy Committee of the Federal Accounting Standards Advisory Board recently issued technical releases, including one regarding implementation guidance for leases.
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September 6, 2022
Due to the historic amount of federal pandemic funding, the AICPA Government Audit Quality Center is seeking auditor feedback on how it can best support auditors, particularly those who work with single audits.
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August 31, 2022
The Public Company Accounting Oversight Board recently released “Observations From the Target Team's 2021 Inspections,” sharing findings gathered from its 2021 inspections as well as focus areas for 2022 inspections.
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August 25, 2022
The Securities and Exchange Commission recently adopted amendments to its rules to require registrants to disclose information reflecting the relationship between executive compensation actually paid by a registrant and the registrant’s financial performance.
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August 16, 2022
The Public Company Accounting Oversight Board recently released a draft of its five-year strategic plan, inviting the public to comment on how the organization will pursue its mission of protecting investors from 2022 to 2026.
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August 16, 2022
The Financial Accounting Standards Board recently announced that the U.S. Securities and Exchange Commission has accepted the 2022 Q3 Supplemental GAAP Taxonomy, which includes improvements to the GAAP Financial Reporting Taxonomy and the SEC Reporting Taxonomy.
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August 9, 2022
The IRS recently issued Notice 2022-33, extending the deadline for compliance with certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019, the Bipartisan American Miners Act of 2019 and the Coronavirus Aid, Relief, and Economic Security Act.
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July 25, 2022
The Financial Accounting Standards Board recently approved new rules that will require companies to disclose information about the key terms of supply chain finance programs.
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July 15, 2022
In June 2022, two senior committees of the American Institute of Certified Public Accountants (AICPA) issued new quality management standards.
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