PCAOB Issues Spotlight for Audits Nearing Completion in Light of COVID-19
by CCH ARM Editorial on April 3, 2020 at 9:30 pm
The Public Company Accounting Oversight Board (PCAOB) has released a new staff PCAOB Spotlight document, COVID-19: Reminders for Audits Nearing Completion, to provide important reminders to auditors of issuers and broker-dealers for audits nearing completion. Reasons for Issuance of the PCAOB Spotlight Explaining the decision to issue the new Spotlight, Chairman William D. Duhnke III said, The post PCAOB Issues Spotlight for Audits Nearing Completion in Light of COVID-19 appeared first on Tax & Accounting Blog.
GASB Issues Statement No. 93 for Transition from LIBOR
by CCH ARM Editorial on April 3, 2020 at 9:12 pm
The Governmental Accounting Standards Board (GASB) has issued Statement No. 93, Replacement of Interbank Offered Rates, to assist state and local governments in the transition away from existing interbank offered rates (IBORs), including the London Interbank Offered Rate (LIBOR) to other reference rates. Variable payment rates based on LIBOR Some governments have entered into agreements The post GASB Issues Statement No. 93 for Transition from LIBOR appeared first on Tax & Accounting Blog.
FASB Plans to Address Standard-Setting Issues During the Coronavirus
by CCH ARM Editorial on April 2, 2020 at 5:47 pm
The FASB is monitoring and responding to the COVID-19 (coronavirus) pandemic situation and is committed to supporting and assisting its stakeholders during this difficult time. At its meeting on April 8, 2020, the FASB is expected to discuss plans to support stakeholders as they navigate the impact of the pandemic. Discussion will include: Responses to The post FASB Plans to Address Standard-Setting Issues During the Coronavirus appeared first on Tax & Accounting Blog.
Wolters Kluwer’s Continuing Audit Education Adds Value
by Joam Singh on March 31, 2020 at 1:00 pm
The value of continuing audit education from the School of Audit During the first few months of each year our lives go on hold as we take care of our clients needs. As auditors, we understand that. However, if you think that your employees are too busy to care about continuing audit education, think again. The post Wolters Kluwer’s Continuing Audit Education Adds Value appeared first on Tax & Accounting Blog.
IASB Releases Guidance on Application of IFRS 9 During Time of Uncertainty Due to COVID-19 Pandemic
by CCH ARM Editorial on March 30, 2020 at 10:31 pm
The International Accounting Standards Board (IASB) has released the document, IFRS 9 and COVID-19—Accounting for Expected Credit Losses Applying IFRS 9 Financial Instruments in the Light of Current Uncertainty Resulting from the COVID-19 Pandemic. Application of IFRS 9, Financial Instruments The document responds to questions regarding the application of International Financial Reporting Standard (IFRS) 9, Financial The post IASB Releases Guidance on Application of IFRS 9 During Time of Uncertainty Due to COVID-19 Pandemic appeared first on Tax & Accounting Blog.
Accounting is the story of a business told in the language of numbers. Some people have a natural understanding of numbers, but it is not something that comes naturally to everyone. Thus, even if you have learned the basics and can prepare your own budgets or monthly...
Ever complain to a friend or family member about your debt and received advice that landed you in more debt? The one person who will not lie to you about your finances is your accountant. Each is obligated by law to act professionally, with integrity. Hiring an...
An accountant can help you save money. Look at it this way - your accountant probably knows more about you than even your mother at this point! He or she can help you devise strategies to hide money from yourself, such as automatic payroll deductions into a brokerage...
Changing jobs? Your accountant would advise you on assuring that your new employer is withholding the right amount from your paycheck. It is definitely worth keeping an eye on, to avoid back taxes in the future.
Living paycheck to paycheck? An accountant can analyze your financial situation and provide you with options on how to reduce your debt. Your accountant can also teach you methods to improve your credit score, which is invaluable if you are thinking of purchasing...