Blockchain was originally created to facilitate bitcoin transactions by enabling secure and traceable peer-to-peer deals without a central authority. Subsequently, blockchain has become a buzzword…
This article provides a discussion of defined benefit (DB) pension plans, those retirement vehicles in which employers provide a benefit to former employees upon retirement.…
Joint Venture Accounting
Valuation and Measurement Issues After Formation
IN BRIEF ASU 2023-05 addresses the accounting by a joint venture for the initial contribution of nonmonetary and monetary assets to the undertaking. This article…
Questions About the Classification of Joint Ventures for Accounting Purposes
An Analysis of the Existing Guidance
IN BRIEF FASB's recent guidance on accounting joint ventures, ASU 2023-5, is intended to resolve diversity in practice and simplify the accounting for these entities.…
A Conversation with SEC Chief Accountant Kurt Hohl
Highlights from the 20th Annual Baruch College Audit Conference
The 20th Annual Audit Conference, hosted by Baruch College, New York, N.Y., on Nov. 20, 2025, once again featured the theme of “Ensuring Integrity.” Regulators,…
A First Look at the Disaggregation of Income Statement Expenses
An Illustration of Typical Disclosures
On Nov. 4, 2024, FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). Public business entities must implement this standard for annual reporting…
IN BRIEF Joint ventures have been a popular vehicle for businesses to work together to share competencies and knowledge to reach a mutually beneficial outcome.…
This article provides a discussion of defined benefit (DB) pension plans, those retirement vehicles in which employers provide a benefit to former employees upon retirement.…
Joint Venture Accounting
Valuation and Measurement Issues After Formation
IN BRIEF ASU 2023-05 addresses the accounting by a joint venture for the initial contribution of nonmonetary and monetary assets to the undertaking. This article…
IN BRIEF Businesses facing liquidation are often confronted with questions on how to value their assets and liabilities so as to be meaningful to important…
Questions About the Classification of Joint Ventures for Accounting Purposes
An Analysis of the Existing Guidance
IN BRIEF FASB's recent guidance on accounting joint ventures, ASU 2023-5, is intended to resolve diversity in practice and simplify the accounting for these entities.…
A Conversation with SEC Chief Accountant Kurt Hohl
Highlights from the 20th Annual Baruch College Audit Conference
The 20th Annual Audit Conference, hosted by Baruch College, New York, N.Y., on Nov. 20, 2025, once again featured the theme of “Ensuring Integrity.” Regulators,…
A First Look at the Disaggregation of Income Statement Expenses
An Illustration of Typical Disclosures
On Nov. 4, 2024, FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). Public business entities must implement this standard for annual reporting…
IN BRIEF Joint ventures have been a popular vehicle for businesses to work together to share competencies and knowledge to reach a mutually beneficial outcome.…
The Danger of Bad Charts
Where to Look for Flaws in the Presentation of Financial Data
Can the users of financial statements and annual reports rely upon the charts in them for accuracy? A sample of 50 public companies' yearly reports…
The Danger of Bad Charts
Where to Look for Flaws in the Presentation of Financial Data
Can the users of financial statements and annual reports rely upon the charts in them for accuracy? A sample of 50 public companies' yearly reports…
A company's long-term liabilities, such as bonds payable and finance leases, arise from its future cash flow obligations. These liabilities are often initially recognized on…
LIFO or FIFO During Inflationary Times?
The Trade-Offs of Valuation Methods
In Brief The recent surge in inflation has led managers to reassess the best inventory valuation methods—first-in-first-out (FIFO) or last-in-first-out (LIFO). In times of rising…
On April 22, 2024, the Office of Management and Budget (OMB) released significant revisions to Title 2 of the Code of Federal Regulations (CFR), including…
Misconceptions in Not-For-Profit Accounting
Understanding the Reality Behind the Standards
Certain accounting standards are specific to donations, contributions, and grants from governments and foundations and are uniquely applicable to not-for-profit organizations. Nonprofits do not exist…
In Brief The use of Special Purpose Acquisition Companies (SPAC) as a means of bringing new entities to the public markets became increasingly popular in…
Improving the use of SOC 1 Reports
Insights from CFOs, CAEs, and Audit Committee Members
Business process outsourcing is increasing in volume and variety. Market research firm Grandview Research reported that the global market for business outsourcing was approximately $157…
In Brief The use of Special Purpose Acquisition Companies (SPAC) as a means of bringing new entities to the public markets became increasingly popular in…
Auditing Cryptocurrency Companies
Risky Business in a Volatile Industry
In Brief Recent events in the cryptocurrency industry highlight the risks for investors and customers—as well as auditors. This article summarizes the international, U.S. GAAP,…
Sustainability Reporting and the Greenwashing Challenge
Can the New International Sustainability Disclosure and Assurance Standards Eliminate Greenwashing?
In Brief While the use of sustainability reporting has grown in the United States in the absence of a legal mandate and as a result…
Improving Audits of Larger Governmental Entities and Employee Benefit Plans
Is Self-Regulation Enough?
Peer reviews help to improve the quality of financial statement audits and other attestation services. Assessing the root causes of peer review comments and then…
In December 2023, FASB issued ASU 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60). This final guidance requires all entities to measure certain crypto assets they…
Sustainability Reporting and the Greenwashing Challenge
Can the New International Sustainability Disclosure and Assurance Standards Eliminate Greenwashing?
In Brief While the use of sustainability reporting has grown in the United States in the absence of a legal mandate and as a result…
Mandatory Sustainability Metrics Reporting Has Arrived in America, via Europe
Getting Familiar with the EU’s Corporate Sustainability Reporting Directive
In Brief Sustainability reporting in the United States has traditionally been guided by a variety of voluntary standards and frameworks. But such reporting will soon…
In Brief Despite the headwinds generated by a growing anti-ESG movement, activists, stakeholders, NGOs, and other influencers are escalating their pressure on businesses and financiers…