NSAC Happenings and Latest News - Page 21
ACCTFAX Winter 2021
Originally published in The Cooperative Accountant, Winter 2021 Issue FASB PROPOSES IMPROVEMENTS TO FAIR VALUE GUIDANCE FOR EQUITY SECURITIES On September 15, 2021, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would improve financial reporting for investors and other financial statement users by increasing comparability of financial information across reporting ...
Read MoreHow to Stay Focused as Remote Work Remains
Here's why many employees still prefer to work from home and how you can improve focus and motivation. When the Pew Research Center found a large percentage of workers still preferred to work from home at the end of 2020, some skeptics might have expected this trend to soon reverse. But as 2021 has proven, working remotely has in fact become even more entrenched and expected by the workforce. In mid-October 2021, Gallup simplified the ...
Read MoreDigital Assets, Intangibles Among Priorities on FASB’s New Research Agenda
Earlier this year, FASB asked for comments on what its agenda priorities should be. In response to feedback received in the agenda consultation, FASB Chair Richard Jones announced comprehensive changes to the board's research agenda. FASB's research agenda now will include the following projects, in no particular order: · Accounting for exchange-traded digital assets and commodities. Accounting and disclosure for a subset of these ...
Read MoreWinter 2021 TCA Small Business Forum
Originally published in The Cooperative Accountant, Winter 2021 Issue Violations Enforced by Governmental Agencies Introduction To inhibit damaging practices and to encourage compliance, a plethora of government agencies enforce the compliance of regulations. Agencies like the Environmental Protection Agency (EPA) provide efficiencies to the market and peace of mind to consumers ...
Read MoreIs Goodwill Accounting’s Future in the Past?
Investors don't want to go back to an amortization model, but that's the way FASB is leaning. Portfolio managers and other investment professionals surveyed by the CFA Institute last week would prefer the Financial Accounting Standards Board (FASB) not travel back in time 20 years to attempt to improve the U.S. accounting standard for goodwill. FASB, however, seems intent on making the journey. Goodwill is the excess of the price paid for a ...
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