Organizations differ by many factors, including legal and operating structure, size, industry, and geographic markets. In any ...

ASU 2023-05 addresses the accounting by a joint venture for the initial contribution of nonmonetary and monetary assets to the undertaking. This article discusses the underlying principle that JVs ...

What is audit quality? This is not meant as a philosophical question, but rather as one that can be answered through ...

In 2026, many investors may find themselves looking for solutions to address their capital gains. This could be the result of ...

IN BRIEF FASB's recent guidance on accounting joint ventures, ASU 2023-5, is intended to resolve diversity in practice and ...

Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). Public business entities must implement ...

A trust fund tax is a tax that is collected and accounted for by a third party, usually a business, which is then responsible ...

The shortage of individuals entering the CPA pipeline has reached a crisis stage. While professional institutions like the AICPA have been working on long-term strategies to address the problem, there ...

The rising popularity of artificial intelligence (AI) has made many CPAs feel unsure about the ways in which their profession may be affected. There are already some tedious tasks that AI can help ...

The SEC’s new cybersecurity rules require public companies to promptly disclose cybersecurity incidents and detail their risk management strategies. These rules mandate reporting significant cyber ...

The recent surge in inflation has led managers to reassess the best inventory valuation methods—first-in-first-out (FIFO) or last-in-first-out (LIFO). In times of rising prices, FIFO typically results ...

Recent events in the cryptocurrency industry highlight the risks for investors and customers—as well as auditors. This article summarizes the international, U.S. GAAP, and PCAOB auditing standards and ...