How do U.S. companies get out of paying taxes on $2.5 trillion? By using the indefinite reversal criteria in ASC 740, a.k.a. the APB 23 exception! Read More ...
GAAP Flash – Hedging under ASC 815 (FAS 133) and Other News – 09.16.16
Sep 16, 2016In this issue we discuss making hedging easier under ASC 815 (FAS 133), internal control over financial reporting, and non-GAAP financial measures. Read More ...
Want Effective Training? Everyone Plays a Part to Rise Above the Rest!
Sep 13, 2016I just got back from an amazing training experience and I learned the special formula for effective training. It’s you, regardless of your role! Read More ...
GAAP Flash – PCAOB Inspection Reports and Non-GAAP Measures – 09.09.16
Sep 09, 2016This week’s issue discusses negative interest rates, non-GAAP financial measures, audit quality, and the latest release of PCAOB inspection reports. Read More ...
Example: Accounting for Uncertain Tax Positions (ASC 740)
Sep 06, 2016Do you know how to account for uncertain tax positions under U.S. GAAP (ASC 740)? This post summarizes the guidance with a worked example. Read More ...
GAAP Flash –Liquidation Accounting, Uncertain Tax Positions – 09.02.16
Sep 02, 2016This week: new FASB guidance on the statement of cash flows, liquidation accounting, SEC enforcement actions related to revenue recognition, and more. Read More ...
Comparing the New Revenue Recognition Standards: IFRS 15 and ASC 606
Aug 30, 2016The Boards issued the new revenue recognition standards hoping for convergence, but the list of differences between the two standards is growing. Read More ...
GAAP Flash – ASC 605, ASC 805, and Not for Profit Financial Statements – 8.26.2016
Aug 26, 2016In this week’s GAAP Flash, we discuss revenue recognition (ASC 605), business combinations (ASC 805) and changes to not for profit financial statements. Read More ...