Posts Tagged ‘FASB’

Accounting & Audit Alert- How to report software costs

What do Tesla cars, smart TVs and equipment used for making french fries have in common? The answer is embedded software, according to recent comments by Financial Accounting Standards Board (FASB) Vice Chair James Kroeker.

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Posted In: Alerts & Advisories

Accounting & Audit Alert- FASB proposes last-minute changes to lease accounting rules

Accounting Standards Codification Topic 842, Leases, requires organizations to report the full magnitude of their long-term lease obligations on their balance sheets — a historic first. For private companies and nonprofits, the changes take effect

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Posted In: Alerts & Advisories

Accounting & Audit Alert- New law puts “book income” in the crosshairs

The Financial Accounting Standards Board (FASB) could have congressional lobbyists nipping at its heels over a “book minimum tax” rule in the newly enacted Inflation Reduction Act of 2022 (IRA). This would be the first

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Posted In: Alerts & Advisories

Accounting & Audit Alert- How to account for collaborative agreements

Today, many companies share research or technology to develop new products. For example, manufacturers might enter into a joint venture to conduct scientific research to design a new medical device. Or a watchdog group might

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Posted In: Alerts & Advisories