Since 1973, GAAP (APB Opinion 28) has recognized the acceptability of presenting condensed interim information by public companies as provided for in Article 10 of…
A True Portrait of America’s Finances
Analyzing the Federal Government’s Fiscal Year 2018 Financial Statements
In late March, the U.S. Department of the Treasury issued the fiscal year 2018 financial report for the U.S. government. The report had some bad…
Functional Expenses by Nature and the Overhead Debate
Crafting an Alternative Approach to ASU 2016-14
FASB ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, is in full effect with the close of the December 31, 2018, fiscal year. As implementation progresses,…
Since 1973, GAAP (APB Opinion 28) has recognized the acceptability of presenting condensed interim information by public companies as provided for in Article 10 of…
The June 2017 installment of this column covered “Reporting on Restatement Adjustments after an Auditor Change” (http://bit.ly/2pQMClB). This installment expands on that theme, providing guidance…
In November 2014, FASB issued Accounting Standards Update (ASU) 2014-17, Business Combinations (Topic 805): Pushdown Accounting, which became effective immediately. Topic 805 requires that in business combinations…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
The June 2016 debate between Edward Weinstein and Stanley Goldstein about the role of the CPAs in sustainability accounting (“Sustainability—Not GAAP Measurement,” http://bit.ly/2fyI9Pj) presented two views;…
FASB News Response to Consolidated Reporting Amendment Mixed FASB’s recently proposed amendment of its consolidated reporting standard has generated a mixed response. The amendment would…
Our Greatest Hits | A look at the modified cash basis
From The CPA Journal Archives
"Our Greatest Hits" is an effort to show our readers the most popular - and still avidly read - articles from our archives. This article…
This article originally appeared in our June 2016 Issue. “We're actually confusing people more than we were helping people understand what's going on in the…
The Authors Respond
Response to Charles Landes and Michael Glynn
We appreciate and thank Charles Landes and Michael Glynn for their letter commenting on our article. Rest assured that we are not discrediting the quality…
Reimagining the Financial Ratios
Comparing Brand Values in the Technology Industry
Last year, in “Reimagining the Financial Statements” (The CPA Journal, April 2015, http://bit.ly/1SSQXz7), this author restated certain fiscal metrics of Apple Inc. to incorporate the value…
Equity Crowdfunding
The Good, the Bad, and the Potentially Ugly
On October 30, 2015, the SEC issued final rules to implement Title III of the Jumpstart Our Business Startup (JOBS) Act, which amended the Securities…