NSAC Happenings and Latest News - Page 105
FASB Simplifies Accounting for Goodwill
The FASB issued new guidance that simplifies the accounting for goodwill impairment for all entities by eliminating the requirement to calculate the implied fair value of goodwill (i.e., Step 2 of today's goodwill impairment test) to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value (i.e., measure the charge based on ...
Read MoreFASB's New Guidance on the Definition of a Business
The FASB changed its definition of a business in an effort to assist entities with evaluating whether a set of transferred assets and activities is a business. The changes will likely result in more acquisitions being accounted for as asset acquisitions rather than business combinations. The new guidance will require an entity to first evaluate whether substantially all of the fair value of the gross assets acquired is concentrated in a single ...
Read MoreBest Practices: 10 Competencies of Top Staff Accountants
Distinguishing yourself as a top staff accountant can lead to many rewards: more responsibilities, higher job satisfaction, promotions, and higher pay. But making your mark involves more than debits and credits. Here are 10 qualities that top staff accountants must master to set themselves apart. Accuracy. Details matter, and there is no room for error in accounting. Staff accountants must become experts at self-review by coming back to their ...
Read MoreMembership Campaign 2017
The NSAC Membership Committee is once again seeking and supporting your efforts to help enroll new members to the Society. As a token of the organization's appreciation, all members will receive a portable power bank charging device in the coming weeks. We hope this device will be used and serve as a reminder of our need for members to serve as ambassadors. The new member recruiting campaign for 2017 will award a $200 gift card to anyone who ...
Read MoreKenneth Spearman's Passing
It is with sad hearts that we share the news that past NSAC president Kenneth Spearman recently passed. Ken was president of NSAC in 2002-2003. During that time he worked for Citrus Central in Florida as well as Florida's Natural Growers Cooperative. In 2009, Ken became a board member on the Farm Credit Administration, appointed by then President Obama. In March of 2015 Ken became Chairman and CEO of the FCA and chairman of the board of ...
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