In completing the comprehensive project to change the conceptual framework, the International Accounting Standards Board (IASB) confirmed the objective of IFRS financial reporting as providing financial information that is useful to investors and others when deciding whether to provide resources to a company. To read the full article in the Journal of Accountancy, click: New IFRS Conceptual Framework Revises Foundational Reporting Concepts.
-
-
Accounting Standards Update 2016-01 has generally flown under the radar since it was released almost two years ago. However, this accounting update has the potential to significantly affect financial reporting by public and private companies with minority equity investments—including corporate entities with a portfolio of venture capital investments. This whitepaper provides an overview of the accounting standards changes as they pertain to companies with equity investments and a few best practice considerations for firms with exposure to these changes. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Corporate Venture Capital and ASU 2016-01: Best Practices for…
-
Accounting Standards Update 2016-01 has generally flown under the radar since it was released almost two years ago. However, this accounting update has the potential to significantly affect financial reporting. Mercer Capital’s forthcoming whitepaper on ASU 2016-01 will provide an overview of the accounting standards changes as they pertain to companies with equity investments and a few best practice considerations for firms with exposure to these changes. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Changes Coming to Corporate Venture Capital Investment Reporting. This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted…
-
Evolving Accounting Standards for CPAs Wiley author Joanne Flood reviews three significant Accounting Standards Updates (ASU). First, she reviews ASU 2014–08, issued in April 2014. This ASU focuses on Reporting [for] Discontinued Operations. This ASU changes the criteria for determining which disposals can be presented as discontinued operations. In the remaining portion of the article, she summarizes changes brought about by ASU 2014–10, Elimination of Certain Financial Reporting Requirements, including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, and ASU 2014–15, Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern.
-
Healthcare consulting in an era of reform Part 2 In Part 1 of this article, the impact of healthcare reform on the opportunities for healthcare consulting was discussed. In Part 2, methods utilized by healthcare consultants, as well as the phases of a typical healthcare consulting engagement, are discussed.
-
A Petitioner Relies Reasonably on His CPA in Gaggero v. Commissioner, the Tax Court Finds. That Makes a Difference: Here’s Why. In Gaggero v. Commissioner, Judge Holmes at the U.S. Tax Court disagrees with the IRS’s contention that the plaintiff conducted an improper scheme to avoid capital gains. In First Street Holdings NV, LLC v. MS Mission Holdings, LLC, Judge Markell at the U.S. Bankruptcy Court finds a lower bankruptcy court’s errors to be likely prejudicial.