Insights

The AICPA Revenue Recognition Task Force releases exposure drafts. Stay informed about the latest accounting guidance.

Offering guidance for applying the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2014-09, Revenue From Contracts With Customers, the American Institute of Certified Public Accountants (“AICPA”) has issued Audit and Accounting Guide (AAG): Revenue Recognition.

LeaseCrunch, an accounting software company specializing in helping clients with the Financial Accounting Standards Board’s (“FASB”) lease accounting standard, has highlighted the five mistakes companies are making when implementing FASB Accounting Standards Codification (“ASC”) Topic 842, Leases.

The American Institute of Certified Public Accountants’ (“AICPA”) Professional Ethics Executive Committee has issued an exposure draft that proposes a new interpretation of a confidentiality rule concerning the disclosure of confidential client information.

AICPA updates two technical Q&As. Stay informed on how these updates impact financial reporting and audit practices.

How many revenue streams do your nonprofit have? Some organizations take the simple yet risky approach of having one main income source, and others depend on multiple revenue streams.

Earlier this week, the Center for Audit Quality announced that Citigroup’s Julie Bell Lindsay will become the organization’s new executive director effective May 6, 2019.

FASB aligns accounting for TV and film production costs. Learn about the new guidelines and how they impact the entertainment industry.

In Memorandum for Regional Directors (“MRD”) 19-PIC-001(R), dated January 11, 2019, the Defense Contract Audit Agency (“DCAA”) published audit guidance revising its policies and procedures for audits of incurred subcontract costs.

A new 2019 form has been issued by the Internal Revenue Service (“IRS”) to help governments and government entities comply with a portion of the Tax Cuts and Jobs Act (“TCJA”) involving reporting fines or penalties.