FASB backs off bigger software accounting revamp
CFO Dive
MARCH 21, 2024
It's been decades since the Financial Accounting Standards Board has made any major changes to GAAP accounting rules for software.
This site uses cookies to improve your experience. By viewing our content, you are accepting the use of cookies. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country we will assume you are from the United States. View our privacy policy and terms of use.
CFO Dive
MARCH 21, 2024
It's been decades since the Financial Accounting Standards Board has made any major changes to GAAP accounting rules for software.
CFO Dive
OCTOBER 3, 2023
The board may remove some "non-authoritative" definitions from the codification — effectively the bible of generally accepted accounting standards.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
CFO Dive
APRIL 5, 2024
Many businesses and financial report preparers already rely on the IAS government grant accounting rules because GAAP is silent on the subject.
CFO Dive
AUGUST 17, 2022
The accounting changes come as crypto-asset valuations have taken a beating and drawn increasing regulatory scrutiny.
CFA Institute
MARCH 5, 2021
You can find significant alpha in the mechanics that drive GAAP accounting.
Bramasol
JULY 31, 2023
This new post provides a deeper look at how the leasing of medical equipment along with other bundled services or products presents particular challenges for meshing contracts and lessor accounting with DSE management and revenue recognition. According to Allied Market Research, "The global medical equipment rental market was valued at $56.0
PYMNTS
AUGUST 7, 2017
When it comes to earnings, a bit of accounting can make all the difference. The key element deserving of scrutiny here, the Times pointed out, comes with the way PayPal — and, to be fair, other tech companies — account for employee stock-based compensation. The implication here is that doing so would lower corporate profits.
The Charity CFO
MAY 10, 2022
If your nonprofit uses donations of supplies, services, and even time to help fund your operations, you need to know about recent changes in accounting standards for in kind donations. So now is the perfect time to make sure you report in kind gift donations in compliance with GAAP standards in 2022. Get the free guide!
The Charity CFO
JANUARY 21, 2022
And the issue of restricted funds presents unique bookkeeping and accounting challenges for a nonprofit that a for-profit company doesn’t face. This accounting system is called fund accounting. This accounting system is called fund accounting. Who’s Required to Use Fund Accounting? .
Boston Startup CFO
APRIL 3, 2023
Financial accounting: A topic that can easily disorient even the most driven entrepreneurs. Fortunately, we present you with a compass – a diagram that demystifies the functions of financial accounting. In this tier, a double-entry accounting system is employed to ensure the accurate recording of all transactions.
The Charity CFO
JANUARY 13, 2022
But accounting for in-kind donations presents its own unique challenges. In this article, we’ll dig into how to account for in-kind donations on your nonprofit’s books. Why accounting for in-kind donations matters. Accounting for in-kind donations isn’t just important; it’s required for many nonprofit organizations. .
CFO Leadership
OCTOBER 10, 2023
AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. However, they still have a place in corporate finance and accounting.
The Charity CFO
AUGUST 15, 2023
Myths of Nonprofit Accounting and Why They Matter to Job Seekers Unfortunately, many job seekers fall victim to the stereotypes and believe the myths surrounding nonprofit accounting. In this section, we will debunk the three most common nonprofit accounting myths. Ready to dive deep into this exciting realm?
The Charity CFO
NOVEMBER 10, 2022
What should you look for when evaluating nonprofit accounting services? Yes, they might have a board member or volunteer who takes care of the finances, but they often lack specific expertise in nonprofit accounting. Benefits of Nonprofit Accounting Services. Nonprofit organizations exist to further a mission or goal.
https://trustedcfosolutions.com/feed/
SEPTEMBER 15, 2022
As your business grows, your accounting solution should scale and grow with you, but this isn’t the case with older, outdated software. Spreadsheets can only tell you so much at a glance and cannot address complex accounting issues. If your accounting system can’t keep up, it’s time for a change. Lack of Financial Visibility.
PYMNTS
JUNE 10, 2019
Certified Professional Accountants (CPAs) in California are calling on an industry watchdog to clarify standards for cryptocurrency accounting, with expectations that corporations will increase their use of cryptocurrencies moving forward. GAAP,” the letter stated.
CFO Leadership
OCTOBER 18, 2023
AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. However, they still have a place in corporate finance and accounting.
The Charity CFO
MARCH 13, 2023
Fundraising ideas will impact your accounting When raising money through fundraising, you need to consider how this affects your nonprofit’s accounting. The way revenue and expenses are recorded can differ for GAAP purposes and tax purposes ( Form 990 ). It will not be reported on Form 990.
The Charity CFO
DECEMBER 30, 2021
Don't hire the wrong accountant for your nonprofit! The #1 accounting mistake that nonprofits make is hiring the wrong people to help them. Get this FREE guide to discover what you need to do to ensure you hire the right accountant, bookkeeper, or CFO the FIRST time. Get the free guide! What is a nonprofit financial audit? .
Proformative
SEPTEMBER 16, 2022
The company that I work for was just acquired by a private equity firm. The comp.
The Charity CFO
JANUARY 11, 2023
All these sources must be carefully managed to ensure compliance with Generally Accepted Accounting Principles (GAAP) and guidelines. Revenue recognition is an accounting process of properly identifying when income has been earned. Your organization’s accounting method really impacts the timing of recognizing transactions.
Future CFO
OCTOBER 27, 2020
New report Accounting & tax: the global and local complexities holding multinationals to account analyses and ranks 77 jurisdictions based on the complexity of their accounting and tax laws and practices. Source: TMF 2020.
CFO Share
AUGUST 5, 2021
The difference between cost of goods sold and ordinary business expenses is well defined in Generally Accepted Accounting Principles (GAAP) but routinely ignored by small business bookkeeping services. Even worse, an IRS income tax return does not follow the same rules as GAAP. Indirect materials and supplies (such as???).
Future CFO
DECEMBER 31, 2021
What does this mean to the finance and accounting team of 2022? Increasingly more Finance & Accounting (F&A) functions will adopt a hybrid work model in which CFOs provide the tools to finance staff to productively work from anywhere. CFOs are the logical candidate to lead the ESG initiative.
Focus CFO
DECEMBER 6, 2021
I continued to be amazed by the lack of understanding and importance placed on accounting records by business owners. They have not invested in their accounting department or accounting records because they consider it “overhead”. The Value of Good Accounting Records. GAAP based Managerial Financial Statements.
https://trustedcfosolutions.com/feed/
JUNE 2, 2022
In that case, you may be looking for more powerful real-time accounting solutions to provide you with a better view of your entire operation and help with things like taxation, HR, multiple currencies, and more. Secure access to your key data from anywhere, at any time, because your accounting solution is cloud-based.
VCFO
APRIL 27, 2023
Richard started in the mail room at Exxon, taking night classes to earn his degree in accounting. He provides exceptional leadership, communication, and mentoring skills, proven effective across multiple business platforms and company cultures. He earned his CPA license and was promoted twice in four years.
Future CFO
SEPTEMBER 15, 2021
There are 10 most sough-after shared services skills in the finance and accounting function in the past year, said Gartner recently. These shared services skills, according to GartnerTalentNeuron analysis of job postings in the finance and accounting function between July 2020 and July 2021, are as follows. Accounting experience.
CFO Share
NOVEMBER 15, 2023
This article includes small business accounting tips to prepare for an audit while minimizing its expenses and findings. An audit evaluates: Compliance with accounting standards (GAAP or IFRS.) Auditors are good at finding issues, so even the best accounting teams find themselves working with auditors to improve their processes.
Cube Software
MAY 11, 2023
Pro forma financial statements and GAAP It's important to note that, since pro forma statements are based on hypothetical or projected data, they are not compliant with generally accepted accounting principles—GAAP statements must be based on actual financial results. Pro forma statements are also used to secure financing.
CFO Share
NOVEMBER 11, 2023
Amortization of intangible assets is a routine accounting procedure, not a strategic focus for small businesses. Instead, they are created as an accounting “plug” to facilitate double-entry bookkeeping standards. This is tracked in an amortization schedule and maintained by your internal accountants.
The Charity CFO
JANUARY 5, 2023
Accountability for everyone involved. When creating your fiscal policy, ensure that it complies with the Generally Accepted Accounting Principles (GAAP). Make board members accountable. Bring GAAP compliance. Create transparency and accountability required by the board and IRS. Unbiased decision-making.
The Charity CFO
JANUARY 18, 2022
Zack joins us after two decades as a not-for-profit accountant in both public accounting and the nonprofit industry. In this new role, he will serve as one of our in-house experts on existing and emerging nonprofit accounting standards and auditing best practices. Louis and nationwide.
Strategic Treasurer
MARCH 6, 2023
The chapter of discussion “Cash Bootcamp for Treasurers” provides a practical approach to understanding different perspectives of cash, how accounting and treasury can live in harmony and more. What are some of the different ways we look at it in finance, accounting as a view of it? What is it? How does it work?
Future CFO
APRIL 18, 2022
DOWNLOAD NOW. The post IBM Cognos Controller: Financial close management managed by the office of finance appeared first on FutureCFO.
CFA Institute
APRIL 5, 2021
GAAP sometimes misrepresents business reality. We can use that fact to generate some alpha.
E78 Partners
SEPTEMBER 21, 2023
These challenges include resource limitations, complexity of accounting standards, volume of transactions, weak internal controls, stakeholder expectations, and much more. Furthermore, in an era of intricate financial landscapes, preparing for compliance with complex accounting standards becomes non-negotiable.
CFA Institute
AUGUST 18, 2020
Low accounting comparability can be costly for both firms and managers.
The Charity CFO
JANUARY 31, 2022
Like all nonprofit financial statements , the central role of the Statement of Activities is to provide transparency and accountability to your donors and board. If you use cash-based accounting, you’ll only record cash deposited into your bank during the reporting period. . Don't hire the wrong accountant for your nonprofit!
The Charity CFO
FEBRUARY 4, 2022
Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. A bookkeeper records and organizes financial data; an accountant interprets and presents that data. . And that’s a problem.
Centage
DECEMBER 21, 2023
hours for every report On-the-fly what-if scenarios 2-3 days per model Model major changes in hours >2 days for every what-if scenario “Prior to Centage I’d have a spreadsheet with 20 tabs, all of which were linked to a GAAP-based P&L on the first tab.
The Finance Weekly
MARCH 25, 2024
His main job is to handle all money matters at SoFi, like planning, accounting, and dealing with investors. His main gigs included handling all the financial operations like accounting and financial planning, crafting financial strategies to boost the business, and managing relationships with investors and banks.
Cube Software
MAY 10, 2023
Accruals and prepayment: Unearned revenue explained In accrual accounting, revenue is recognized when it’s earned. What if I use cash basis accounting? Cash basis accounting is an accounting method whereby income and expenses are recognized only when cash is exchanged.
CFO Share
MARCH 14, 2022
Audited financial statements focus on compliance with GAAP accounting standards, whereas Quality of Earnings reports focus on the company’s earnings history and potential. Significant and/or unusual accounting policies such as: Changes in accounting methods. Changes in accounting principles.
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content