SAS 145 requires auditors to “stand-back” and assess material transactions, accounts, and disclosures that haven’t been deemed as significant. Read More ...
But Why? ASC 320 Classification & Measurement Reminders
Apr 18, 2023Issues in the banking industry have left many asking “why?” Why did this happen, why were investments transferred, and why is this allowed under ASC 320, Debt Securities? Read More ...
ASC 606: Tesla's Rev Rec for Cars & Software
Feb 28, 2023Some cars now require software updates. How are these accounted for? This post covers Tesla cars, software updates, and ASC 606, Revenue Recognition. Read More ...
Course Spotlight: Interest Method and Effective Interest Rates
Jan 31, 2023The interest method is used throughout U.S. GAAP. This post explores our CPE-eligible, eLearning course: Interest Method and Effective Interest Rates. Read More ...
Cornerstones of Audit: Courses covering key audit concepts
Dec 06, 2022Looking for a training solution that connects key audit concepts with your firm’s specific audit approach? New Cornerstones of Audit courses are here! Read More ...
Treat or Trick? ASU 2022-02: Changes to TDR Accounting
Oct 04, 2022ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings (TDRs) by creditors; however, it also enhances disclosure requirements. Read More ...
PCAOB 2020 Inspection Results: Deficiency Rates Fall
Jul 12, 2022Reports have been released for firms annually inspected by the PCAOB. This post explores the results of the 2020 PCAOB inspection cycle. Read More ...
Transfer Troubles: “Sale” or “Secured Borrowing” under ASC 860?
May 31, 2022Determining if a transfer is a sale or secured borrowing under ASC 860 can be a source of trouble for banks! This post discusses key guidance. Read More ...