NSAC Happenings and Latest News - Page 30
Digital 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 ...
Read MoreNew FASB Standard Requires Businesses to Disclose Government Aid
A FASB standard issued recently will require businesses to disclose information in the notes to the financial statements about certain government assistance they receive. Previously, GAAP contained no specific, authoritative guidance for business entities on accounting for or disclosing government assistance they receive. The types of assistance the new standard requires to be disclosed include cash grants and grants of other assets. The ...
Read MoreUSDA Offers New Food Supply Chain Guaranteed Loan Program
The Food Supply Chain Guaranteed Loan Program is part of USDA’s Build Back America Better initiative to strengthen critical supply chains and our food system. This program guarantees loans of up to $40 million for qualified lenders to finance food systems projects, specifically for the start-up or expansion of activities in the middle of the food supply chain. The program will support new investments in infrastructure for food aggregation, ...
Read More