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Tags archive: GAAP

Home /Tag: GAAP
Featured

Mind the GAAP

The Evolution of the Auditor’s Role and the ‘Fraud Expectation Gap’

By  Eric A. Kreuter, PhD, CPA, CFE, CGMA, CMA, MAFF, Glenn D. Sacks, CPA, CFE and Adrienne A. K. Martian, CPA, MST

December 2020 0

Newly minted CPAs typically have limited hands-on auditing experience. They almost always have no training in specialty areas, such as forensics. A term now commonly…

Feature Articles

Can Privately Held and Government Entities Present Condensed Interim Financial Information?

By  Howard B. Levy, CPA

March 2020 0

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…

Featured

The Gap between GAAP and Non-GAAP

By  Theresa F. Henry, PhD, CPA, Rob R. Weitz, PhD and David A. Rosenthal, PhD

March 2020 0

In Brief Many companies have increasingly turned to the reporting of non-GAAP measures, which fall outside the realm of generally accepted accounting principles and must…

Featured

CPAJ News Briefs

IASB, FASB News

By  Thomson Reuters Checkpoint

December 2019 0

IASB News Development of International Accounting Rules for Cryptoassets Stifled by Lack of Stability, Readiness IASB has said that because of insufficient use, stability, and…

Featured

Opening Remarks: The Road to Better Financial Reporting

Reflections on Comparability and Convergence

By  Russell Golden

August 2019 0

About the Speakers Wesley Bricker serves as the chief accountant for the SEC's Office of the Chief Accountant (OCA). (Editor's note: Bricker left the SEC in…

Featured

Learning from the Current Research on Non-GAAP Financial Measures

By  Jian Zhang, PhD

July 2019 0

In Brief One of the goals of GAAP is to present a full picture of a company's financial situation, but for various reasons, companies often…

Featured

The Expanding Use of Non-GAAP Financial Measures

Understanding their Utility and Regulatory Limitations

By  Seanna Asper, CPA, Chris McCoy, CPA and Gary K. Taylor, PhD

July 2019 0

In Brief There is a long history of businesses reporting non-GAAP financial measures, often to highlight a change in operating structure or illuminate the impact…

Featured

Can Privately Held and Government Entities Present Condensed Interim Financial Information?

By  Howard B. Levy, CPA

March 2019 0

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…

News & Views

CPAJ News Briefs

FASB, Audit Practice News

By  Thomson Reuters Checkpoint

March 2019 0

FASB News SEC Disclosure Rules to Be Pulled Into GAAP As part of a broader effort to simplify compliance without significantly altering the total mix…

News & Views

CPAJ News Briefs

FASB/PCAOB News

By  Thomson Reuters Checkpoint

November 2018 0

FASB News No New Guidance Planned for Financial Reporting Effects of Tax Reform Between guidance from the Big Four accounting firms, technical inquiries to FASB’s…

Featured

Disclosure of Pending Accounting Changes

By  Howard B. Levy, CPA

November 2018 0

This article contains practical guidance and support as to the appropriate disclosure of the expected effects of significant future accounting changes from new GAAP standards…

News & Views

CPAJ News Briefs

FASB/IASB News

By  Thomson Reuters Checkpoint

July 2018 0

FASB News Minor Technical Corrections Published for Lease Standard FASB has published an update to U.S. GAAP with 16 technical corrections for its much-watched lease…

Featured

Accounting for Sustainable Value

By  Michael Kraten, PhD, CPA

July 2018 0

The notion of sustainability is not an accounting concept, or even a business concept. Indeed, common English usage defines a sustainable entity merely as one…

News & Views

Tax & Accounting Update

By  Thomson Reuters Checkpoint

July 2018 0

Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…

Featured

Private Company Accounting Standards

Survey of New York CPAs Finds Adoption Slow

By  Nicholas J. Mastracchio, PhD, CPA and Heather M. Lively, CPA

December 2017 0

The CPA profession has been debating the concept of separate accounting standards for closely held businesses for over 40 years. In the December 1972 Journal of…

News & Views

FASB to Drop Obsolete Guidance for Steamship Companies

FASB/PCOAB/AICPA News

By  Thomson Reuters Checkpoint

November 2017 0

FASB News FASB to Drop Obsolete Guidance for Steamship Companies FASB has agreed to delete an outdated piece of guidance from U.S. GAAP governing a…

Featured

ICYMI | The State of FASB’s Simplification Initiative

Toward a Simpler GAAP

By  Jefferson P. Jones, Phd, CPA

September 2017 0

In Brief In recent years, FASB has made a priority of removing unnecessary complexity from FASB's accounting standards. The author gives a detailed accounting of…

Featured

Our Greatest Hits | A look at the modified cash basis

From The CPA Journal Archives

By  Kenneth M. Hiltebeitel, PhD, CPA and Wayne G. Bremser, PhD, CPA

September 2017 0

"Our Greatest Hits" is an effort to show our readers the most popular - and still avidly read - articles from our archives. This article…

Featured

ICYMI | A Refresher on Accounting for Leases

A Detailed Example under the Proposed Guidance

By  Jason C. Porter, PhD

September 2017 0

In Brief FASB’s long-debated exposure draft of a new standard on accounting for leases has raised the possibility that almost all leases will need to…

Recent Trends in Reporting Non-GAAP Income Featured

Recent Trends in Reporting Non-GAAP Income

An Example from Social Media Companies

By  Theresa F. Henry, PhD, CPA, David A. Rosenthal, PhD and Rob R. Weitz, PhD

July 2017 0

In May 2016, the SEC issued new Compliance and Disclosure Interpretations (CDI) and modified others to revise its guidance on the reporting of non-GAAP financial…

Featured

Use of ‘Composite’ (or ‘Group’) versus ‘Component’ and ‘Unit’ Depreciation

By  Howard B. Levy, CPA

June 2017 0

Editor's note: The following is a supplement to the author's “Depreciable Asset Lives: The Forgotten Estimate in GAAP,” published in the September 2016 CPA Journal.…

News & Views

FASB Small Business Advisory Committee Seeks U.S. GAAP Exemptions

By  Thomson Reuters Checkpoint

June 2017 0

FASB News Small Business Advisory Committee Seeks U.S. GAAP Exemptions Some members of FASB’s Small Business Advisory Committee (SBAC) have told the accounting board that,…

Feature Articles

The State of FASB’s Simplification Initiative

Toward a Simpler GAAP

By  Jefferson P. Jones, Phd, CPA

July 2016 0

In Brief In recent years, FASB has made a priority of removing unnecessary complexity from FASB's accounting standards. The author gives a detailed accounting of…

Feature Articles

Accounting for Leases

The New Standard

By  Norman Strauss, Prabhakar Kalavacherla, Mark LaMonte, Marc Siegel and Amie Thuener

July 2016 0

The second panel of the 15th Annual Financial Reporting Conference covered FASB's new standard on accounting for leases. The standard, which is 500 pages long,…

News & Views

SEC | The Audit Committee Financial Expert

A Closer Look at What That Means

By  Allan B. Afterman, PhD, CPA

June 2016 0

In 2003, the SEC adopted rules implementing section 407 of the Sarbanes-Oxley Act of 2002 (SOX), requiring a public company to disclose whether at least…

News & Views

Why Accountants Should Care about Non-GAAP Financial Metrics

By  Thomas Selling, PhD, CPA and Gregory Sommers, PhD, CPA

June 2016 0

“We're actually confusing people more than we were helping people understand what's going on in the business.” — Gregory Hayes, CEO of United Technologies, explaining…

News & Views

Sustainability—Not GAAP Measurement

A Unique Opportunity

By  Edward A. Weinstein, CPA and Stanley Goldstein, CPA

June 2016 0

Ed Weinstein and Stanley Goldstein have been close friends for four decades and have agreed on almost everything. They were quite surprised a year ago…

Featured

The Going Concern Gap in U.S. GAAP

Filling a Hole in Existing Standards

By  Jennifer Edmonds, PhD, Ryan Leece, PhD, CPA and James Penner, PhD, CPA

February 2016 0

Recent events, such as the fiscal crisis of 2007–2008 and the economic recession that followed, have prompted concerns about whether investors have received sufficient notice…

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  • Adapting to Constant Change March 2023
  • CPAJ News Briefs: FASB, PCAOB, IASB March 2023
  • Critical Audit Matter Reporting March 2023
  • Reassessing the Erroneous Refund Penalty March 2023
  • Keynote Session March 2023












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