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18 episodes with Financial Accounting Standards Board
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6 episodes with Financial Accounting Standards Board
18 episodes with Financial Accounting Standards Board
2 episodes with Financial Accounting Standards Board
3 episodes with Financial Accounting Standards Board
2 episodes with Financial Accounting Standards Board
2 episodes with Financial Accounting Standards Board
2 episodes with Financial Accounting Standards Board
Brad and his guests discuss three topics: the Financial Accounting Standards Board's exposure draft about debt modification and extinguishment of liabilities; reporting lines of credit on the statement of cash flows; and SSARS No. 27 on financial statements prepared as part of a consulting services engagement. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. *** Resources:FASB Seeks Public Comment on Proposal to Improve Accounting for Debt ExchangesSSARS No. 27 At a GlanceAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group
This Day in Legal History: The District of Columbia is EstablishedOn July 16, 1790, the District of Columbia was established as the permanent seat of the United States government by the Residence Act. This pivotal legislation, signed by President George Washington, designated a new federal district along the Potomac River, which would be separate from any state and under the direct control of the federal government. The district originally included land donated by both Maryland and Virginia, reflecting a compromise between the northern and southern states to establish a neutral capital.The creation of the District of Columbia was a significant event in American legal history, as it ensured that the federal government would not be beholden to any single state. This move aimed to prevent conflicts of interest and promote a balanced governance structure. The district was meticulously planned by French engineer Pierre Charles L'Enfant, who envisioned a grand capital with wide avenues and impressive public buildings.However, by the mid-19th century, it became evident that major government buildings and developments were concentrated on the Maryland side of the Potomac River. In response, Virginia requested the return of its portion of the land. This request was granted, and the land was retroceded to Virginia in 1847.The establishment and subsequent adjustment of the District of Columbia underscore the evolving nature of American governance and territorial organization. Today, the district stands as a symbol of national unity and a center of political power, home to iconic structures such as the Capitol, the White House, and the Supreme Court. The Residence Act's enactment on this day laid the groundwork for the vibrant and influential capital city that Washington, D.C., has become.A U.S. judge dismissed a criminal case against Donald Trump regarding the mishandling of classified documents, citing the improper appointment of Special Counsel Jack Smith. Judge Aileen Cannon ruled that Attorney General Merrick Garland lacked the authority to appoint Smith or fund his work, deviating from long-standing legal practices. This decision is a significant victory for Trump, who recently survived an assassination attempt and accepted the Republican presidential nomination.Garland appointed Smith in November 2022 to investigate Trump's retention of classified documents post-presidency. Trump argued that special counsels are principal officers requiring Senate confirmation, while the Justice Department viewed them as inferior officers appointable by the attorney general. Cannon sided with Trump, stating that Smith's role undermines the separation of powers and disrupts the Justice Department's structure.This ruling breaks from historical precedent, as courts have typically supported the authority of special prosecutors. Cannon dismissed the relevance of the 1974 Supreme Court ruling requiring Nixon to release Watergate tapes, noting it doesn't bind the attorney general's appointment authority.Cannon also referenced Justice Clarence Thomas's opinion on presidential immunity in her decision. The Justice Department plans to appeal, arguing that the ruling deviates from previous courts' conclusions about the attorney general's authority. The appeal is expected to go to the 11th Circuit Court of Appeals, which previously overturned another of Cannon's decisions related to the classified documents investigation.Trump Judge's Ruling on Special Counsel Veers From Recent CasesMasimo Corp has filed a lawsuit against activist investor Politan Capital, alleging "material misstatements and omissions" in Politan's proxy materials. Politan, which holds nearly a 9% stake in Masimo, has been critical of the company's capital allocation and board oversight, particularly concerning Masimo's $1 billion acquisition of Sound United. Politan has nominated two candidates for Masimo's five-member board, with two seats up for election this year.This marks the second consecutive year Politan has proposed board candidates, with last year's nominees, including Politan's owner Quentin Koffey, being elected. Politan denies the lawsuit's claims, calling it "without merit."Masimo postponed its annual shareholder meeting to September 19 from July 25, a move Politan criticized as an attempt to silence shareholders. Politan vowed to prevent further delays. Masimo's stock has dropped 27% over the past year, and Politan has promised to review the company's strategy, costs, and growth plans if its nominees are elected. Proxy advisory firms ISS and Glass Lewis support Politan's candidates, William Jellison and Darlene Solomon.Masimo initiates legal action against activist investor Politan | ReutersMajor tech companies like Meta, Apple, and Microsoft are increasing transparency about their AI use amid pressure from regulators, oversight committees, and investors. Meta updated its AI labeling policy to better address misinformation, while Microsoft released its first responsible AI report in May. Apple has also pledged more disclosure about its AI plans after a shareholder proposal received significant support.Shareholders are demanding that these companies reveal the risks their AI tools pose to finances, operations, employees, and society. The entertainment industry is also under scrutiny, especially after AI-related labor concerns during the Hollywood strikes. A recent AI proposal at Netflix received 43% shareholder support, indicating growing investor interest in ethical AI practices.Despite these pressures, companies continue to pursue AI for its financial potential. Over 40% of S&P 500 companies mentioned AI in their recent annual reports, showing a marked increase since 2018. However, shareholder campaigns are prompting changes, as seen when the AFL-CIO withdrew AI-related bids at Disney and Comcast after they agreed to more disclosure.Microsoft faced shareholder proposals last year demanding more detailed AI risk reports, even after committing to a responsible AI report. Alphabet, Google's parent company, encountered three AI-related proposals at its June meeting, reflecting investor concerns about misinformation, governance, and human rights impacts.Meta, having faced its own shareholder proposal in May, updated its AI labeling to provide clearer information about manipulated media. The company's new digital assistant and AI-generated content features continue to draw scrutiny.The entertainment industry is particularly sensitive to AI's impact on labor, with Netflix's shareholder proposal highlighting potential hiring discrimination and job losses. The AFL-CIO emphasized the importance of engaging workers in discussions about AI's use to mitigate such risks.Globally, AI regulation is evolving, with the EU's AI Act set to take effect, imposing stringent ethical guidelines on AI use. In contrast, the US has been slower to adopt comprehensive AI laws, though an executive order last year introduced significant security and privacy measures. Companies are also establishing new roles and committees to manage AI ethics and transparency, tailoring communication to various stakeholders to navigate the complex regulatory landscape.Meta, Apple, Microsoft Move to Fend off Mounting AI ConcernsThe SEC has eased its stance on accounting for certain crypto assets, but critics argue its two-year-old guidance remains unclear and hampers digital currency adoption. Recently, the SEC informed some large banks and brokerages that they could offer certain crypto products without adding them to their balance sheets, circumventing Staff Accounting Bulletin 121 requirements. Despite this, crypto advocates remain dissatisfied, citing a lack of open dialogue with industry leaders. Banks, seeking more clarity, have turned to their Capitol Hill allies, though a recent legislative attempt to overturn the 2022 guidance failed.The SEC's bulletin has posed challenges for banks aiming to tap into the $2 trillion digital asset market, raising concerns about securing customer holdings while regulatory issues are sorted out. The SEC hasn't provided exceptions to the bulletin but noted some entities presented different circumstances from those described in the guidance. Since the bulletin's release in March 2022, significant changes, like the collapse of crypto exchange FTX, have highlighted the need for better security of digital assets.The SEC's guidance aimed to enhance asset security, crucial for mainstream adoption. Discussions between companies and the SEC have opened doors for banks to serve crypto holders. Despite this, the bulletin had a chilling effect, halting some well-regulated entities from participating in the digital asset market. Political interest in crypto has surged, with figures like Donald Trump and the Republican Party showing support, while the SEC continues to enforce compliance with securities laws.In late 2023, the SEC began privately consulting with large banks and brokerages, suggesting that with proper safeguards, certain services wouldn't require booking the value of customer assets as a liability. This approach allows banks to serve the crypto market without inflating their balance sheets, which could trigger capital reserve requirements. The SEC's new guidelines are seen as a step forward, though critics believe the Financial Accounting Standards Board should ultimately address customer-held crypto assets to ensure consistent and comprehensive standards.SEC's Relaxed Stance on Crypto Guidance Fails to Appease CriticsIn my column, I discuss New York Gov. Kathy Hochul's decision to reconsider congestion pricing in Manhattan, illustrating the political challenges of such fees compared to taxes. Hochul's initial plan involved charging drivers up to $15 to enter parts of the city to reduce traffic and raise funds for infrastructure and climate change initiatives. Faced with political backlash, she is now exploring a payroll tax to cover a $1 billion revenue gap, highlighting the greater acceptability of taxes over fees.I suggest taxing privately owned parking spaces as an alternative to congestion pricing. This could achieve similar revenue goals with less political resistance. Parking taxes can discourage driving in congested areas and raise funds for public transit, although they wouldn't affect rideshare drivers or those who don't park, making it a temporary solution.The public generally prefers taxes over direct fees like congestion pricing, which are more visible and provoke strong reactions due to their clear costs. A payroll tax, though affecting more people, is less direct and thus more politically viable. A parking space tax could also distribute costs more broadly, including to parking facility owners, offering a less visible means of raising revenue.Ultimately, I argue that congestion pricing, despite its initial unpopularity, has proven effective globally in cities like London and Stockholm. New York should consider revisiting congestion pricing, supported by public education on its benefits and a phased implementation to gain public acceptance.New York Should Tax Parking Spaces, Not Streets, to End Standoff This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe
Join us on Accounting Matters for a conversation about the intricacies of accounting for crypto assets under the latest guidance from the Financial Accounting Standards Board, ASU 2023-08.Connect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts and Spotify.
Are you dreaming big enough? How are you creating your future with courage, strength, and service? In this episode, Jeff, Jeff, and Bo discuss: Surrendering to the Lord. Doing things for something bigger than yourself. Tell your story to change one life. Making the next step with meaning no matter where you're at now. Key Takeaways: To find real passion and determination, you need to think outside yourself. Serve others and it will fill your soul.Find your courage and jump off the cliff of change. You'll be amazed at where you can go with God.Strengths are for service, not status. You have strengths, use them to serve. The two most important moments of your life are the moment you are born and the moment you know why. You can have more than one why and you can add more as you grow. "Tell your story. Write your book. If you can change one person's life, it's worth it." — Bo Parfet Episode References: From Success to Significance: When the Pursuit of Success Isn't Enough by Lloyd ReebMindset: The New Psychology of Success by Carol S. DweckChase the Lion: If Your Dream Doesn't Scare You, It's Too Small by Mark BattersonHalftime Institute: https://halftimeinstitute.org/ About Bo Parfet: Bo spearheads strategic growth opportunities across DLP Capital's family of companies. He is an experienced senior executive with a passion for “Impact” investing. He graduated with his Bachelor of Arts in Economics from Colorado State University. Early in his career, Bo was an investment banker at JP Morgan in New York City and a Fellow at the Financial Accounting Standards Board (also known as “FASB”). Seven years later, Parfet and his wife co-founded Denali Venture Philanthropy to fuse their business experience with a desire to support positive global change. Bo also has a Master of Arts in Economics from the University of Michigan and an MBA from Northwestern University's Kellogg School of Management. He is passionate about high-altitude ski mountaineering and is one of about 100 Americans to climb all Seven Summits, the highest mountains on each continent. He has published four books: Die Trying: One Man's Quest to Conquer the Seven Summits, The Precipice of Life: Leadership and Personal Growth Insights from a Mountaineer's Edge, Healthy Hello's and They Lived to Tell the Tale: True Stories of Mountain Adventure from the Legendary Explorers Club (Chapter Author). Bo participates in speaking engagements domestically and internationally. He is a British American Project Fellow, a member of the fabled Explorers Club, and a sitting member on the Board of Directors for a number of companies and non-profit organizations. He was recognized for his demonstrated commitment to social change and awarded the Presidential Volunteer Service Award, given to individuals who have completed 4,000 hours or more of volunteer service throughout the world. Connect with Bo Parfet:Website: https://www.boparfet.com/LinkedIn: https://www.linkedin.com/in/boparfet/Book: Die Trying: One Man's Quest to Conquer the Seven Summits Connect with Jeff Thomas: Website: https://www.arkosglobal.com/Podcast: https://www.generousbusinessowner.com/Book: https://www.arkosglobal.com/trading-upEmail: jeff.thomas@arkosglobal.comTwitter: https://twitter.com/ArkosGlobalAdv Facebook: https://www.facebook.com/arkosglobal/LinkedIn: https://www.linkedin.com/company/arkosglobaladvisorsInstagram: https://www.instagram.com/arkosglobaladvisors/YouTube: https://www.youtube.com/channel/UCLUYpPwkHH7JrP6PrbHeBxw
In this episode, CII General Counsel Jeff Mahoney interviews Stephen G. Ryan, the Vincent C. Ross Professor of Accounting at the Leonard N. Stern School of Business at New York University. Professor Ryan is the co-author of a recent research paper entitled "Banks' Motivations for Designating Securities as Held to Maturity."
Coming soon to corporate financial statements: a lot more tax transparency. After seven years and three rounds of proposals, the Financial Accounting Standards Board in December published new rules requiring companies to shed light on the income taxes they pay to federal, international, and state governments. The disclosure rules, which kick in as early as 2025, are a response to years of complaints that current financial reporting rules offer too few details about tax obligations. Soon, companies will have to separately list any jurisdiction that accounts for more than 5% of their total tax obligations. Publicly traded companies will have to further break down how they calculated their effective tax rate, so investors and other financial statement readers can contrast it with their statutory rate. Bloomberg Tax reporter Nicola M. White spoke with David Gonzales, a vice president at Moody's Investors Service, about what kind of details companies will have to provide and how investors and analysts could use them. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
Dr David Martin is truly an extraordinary man who has achieved so much in so many different sectors and disciplines. He joins Hearts of Oak to unpack a number of aspects of what has been behind the last four years of destabilisation. We start 20 years ago, in 2003 Dr Martin published a briefing on Coronavirus. Why was this on his radar 2 decades ago? We explore the hidden world of funding for pharma and research, which is widely unknown to the public. Yet it needs to be called out and Dr Martin has had some backlash for pointing out Vivek Ramaswamy's links to this. Is the motive behind all of this simply profit? 'Profit with Impunity' is a phrase that Dr Martin used in his speech in the UK Parliament back in December 2023 and we analyse that phrase. But its not just about money, it is a power grab and a reassessment of what freedoms we are allowed. There really is so much information packed into this interview, with people like Dr David Martin around, the truth will always come out. Dr. David Martin founded M·CAM® in 1998 and has served as its CEO and Chairman since that time. M·CAM® has been an international intangible asset underwriter and analyst firm spanning work in innovation finance, trade, and intangible asset finance. Dr. Martin is the developer of several innovation-based quantitative indices of public equities and is the Founder of the Purple Bridge Funds. He managed the Innovation Alpha ETFs (NYSE:INAU; NYSE:INAG; and NYSE:TWAR). He is the creator of the public equity index – the CNBC IQ100 powered by M·CAM® which now is reported as a leading economic indicator for the U.S. and Global Innovation Economy published by The Conference Board. As a spokesperson for global financial and intangible asset accountability and quality reform, Dr. Martin has worked closely with the United States Congress and numerous trade and financial regulatory agencies in the United States, Europe, and Asia in advocating and deploying infrastructure to support growing reliance on contract and proprietary rights in business transactions. Under the leadership of Dr. Martin, M·CAM® has supported the modernization of banking, intangible asset, tax, and accounting laws through its work with oversight agencies and policy makers. This work included work with the United States Congress, the Financial Accounting Standards Board, the United States Departments of the Treasury and Commerce, the European Union and many other countries. Dr. Martin received his undergraduate (BA) from Goshen College, his Masters of Science from Ball State University, and his Doctorate (PhD) from the University of Virginia. Dr. Martin is a Batten Fellow at the University of Virginia's Darden Graduate School of Business Administration. Connect with Dr Martin... X https://x.com/DrDMartinWorld?s=20 WEBSITE https://www.davidmartin.world/ https://www.m-cam.com/ Interview recorded 16.1.24 Connect with Hearts of Oak... WEBSITE https://heartsofoak.org/ PODCASTS https://heartsofoak.podbean.com/ SOCIAL MEDIA https://heartsofoak.org/connect/ Support Hearts of Oak by purchasing one of our fancy T-Shirts.... SHOP https://heartsofoak.org/shop/ *Special thanks to Bosch Fawstin for recording our intro/outro on this podcast. Check out his art https://theboschfawstinstore.blogspot.com/ and follow him on X https://twitter.com/TheBoschFawstin?s=20
Send us a Text Message.Unlock the secrets to enhancing your financial savvy with a deep dive into the world of credit and the powerful influence of GAAP-compliant financial statements. In our latest episode, we dissect the complex relationship between your financial documentation and your credit standing, emphasizing the critical role that certified, auditor-verified statements play in your personal and business financial health. We tackle the often daunting arbitration process, providing strategic insights on how to effectively challenge discrepancies with credit bureaus. Plus, we illuminate the authoritative framework of the Generally Accepted Accounting Principles and the Financial Accounting Standards Board, equipping you with the know-how to confidently assert your consumer rights and navigate the financial landscape.Venture further with us as we unravel the intricacies of the Social Security Trust Fund, comprising the Old-Age and Survivors Insurance as well as the Disability Insurance Trust Funds. We explore the fund's dual components, their operational mechanisms, and the pivotal role played by the Treasury in their management. Delving into the historical backdrop of the 1935 Social Security Act and the consequential Payroll Taxes, we probe into the investment of excess funds and the complex relationship among the Treasury General Account, the Federal Reserve, and the wider economic network. This comprehensive tour through the financial system culminates with an overview of monetary policies and their wide-reaching implications on our economy, providing you with a robust understanding of these pivotal national financial structures.https://onlyfans.com/donkilam https://www.amazon.com/Million-Dollars-Worth-Game-Kilam/dp/B09HQZNRB9Support the Show.https://donkilam.com
Tom Barbieri, PwC's Chief Accountant, is accelerating the first episode in our October all-star series to share insights on critical accounting and reporting topics.To kick off the series, Tom is joined by Gary Sardo, Financial Accounting Standards Board (FASB) practice fellow, to discuss FASB's disaggregation of income statement expenses (DISE) project.In this episode, you'll hear:3:51 - An overview of investor feedback and background on the FASB's decision to propose enhancing the disclosure requirements for income statement expenses7:54 - Companies impacted by the proposed standards10:32 - A breakdown of the proposed disclosure requirements, including:13:42 - Defining “relevant expense captions,” distinguishing features of each caption and the associated proposed requirements16:22 - Materiality considerations17:30 - Investor and preparer feedback on the proposed standard, including practical challenges in the inventory expense breakdown21:26 - Details on the proposal to further break down inventory and manufacturing expense24:00 - Operability challenges and data needs that companies should be considering now24:42 - Details on the proposed disclosure requirements for:24:44 - “Other” expense categories29:59 - Selling expenses32:26 - A summary of the proposed reporting requirements, including timing considerations and how companies can prepare for the transition37:53 - Next steps on the FASB's agenda and final advice for companies who seek to get prepared and engaged prior to the end of the comment periodFor more on the status and details of the project, refer to the exposure draft on the FASB website. Additionally, tune into PwC's Q3 2023 quarterly accounting webcast for more on the DISE project.Tom Barbieri is PwC's Chief Accountant. He has over 30 years of experience advising large financial services and multinational corporations on complex accounting issues. Tom leads the Accounting & SEC Services Group within the National Office, which is focused on supporting our clients and engagement teams in navigating complex technical accounting and financial reporting matters. He is also a member of the Financial Accounting Standards Advisory Council.Gary Sardo is a practice fellow at the Financial Accounting Standards Board. Prior to his role at the FASB, Gary was a director at PwC with over 15 years of experience, most recently in PwC's Deals practice specializing in capital markets and accounting advisory services.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com
Feels like a lot has been happening in the crypto world lately, and while none of these stories/events is individually worthy of its own episode, everyone loves the occasional news roundup. So in this episode we take a quick ride through some recent newsworthy events affecting The Space. Key Points From This Episode:Grayscale's court win.Financial Accounting Standards Board's new fair value accounting rules for digital assets.New proposed Treasury Department rules.SEC's enforcement action against NFT issuer Impact Theory.Terraform Labs Order.Industry groups sue the SEC to block implementation of the private fund adviser rule.Celebrating circles.Disclaimer:This show is for informational purposes only. Nothing presented here constitutes legal advice. Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/Links Mentioned in Today's Episode:Grayscale win: https://www.reuters.com/legal/us-court-says-sec-wrong-deny-grayscales-spot-bitcoin-etf-proposal-2023-08-29/FASB Fair Value Accounting: https://www.coindesk.com/policy/2023/09/06/fasb-says-crypto-assets-should-be-marked-at-current-values/#:~:text=The%20first%20U.S.%20accounting%20rule,Accounting%20Standards%20Board%20(FASB).Treasury Department Proposal: https://dailyhodl.com/2023/09/08/u-s-treasury-and-irs-propose-new-rules-that-broaden-client-information-crypto-businesses-are-required-to-file/Impact Theory Settlement: https://www.sec.gov/files/litigation/admin/2023/33-11226.pdfTerraform Labs Order: https://storage.courtlistener.com/recap/gov.uscourts.nysd.594150/gov.uscourts.nysd.594150.51.0.pdfLawsuit vs Private Fund Adviser Rule: https://nvca.org/press_releases/nvca-asset-management-associations-file-lawsuit-to-set-aside-secs-new-private-fund-adviser-rule/Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/Cole-Frieman & Mallon LLP - https://colefrieman.com/Music by Joe Ginsberg - https://www.instagram.com/thejoeginsbergFor any questions or comments, email: tow@colefrieman.com
Join AM Now hosts Adam Olsen and Nicole Harger for another dose of what's happening in accounting and finance these days, including: Highlights from the recently released third annual FASB Investor Outreach Report, which sheds light on the Financial Accounting Standards Board's engagement with investors Overview of the EU's Carbon Border Adjustment Mechanism (CBAM) and the European Commission's new reporting rules for importers involved in CBAM The future of the SASB Standards amidst the recent advancements by the ISSB's IFRS S1 and S2 For more information on these and related topics:The FASB Investor Outreach Report, 2022-2023Commission adopts detailed reporting rules for the Carbon Border Adjustment Mechanism's transitional phaseFuture of the SASB Standards: What you need to know for 2023 disclosureConnect with Embark on: LinkedIn Instagram Twitter Facebook YouTube Listen to AM Now on Apple Podcasts, Google Play, and Spotify.
The Financial Accounting Standards Board released Accounting Standards Update 2023-02, which expanded the ability to use the proportional amortization method of accounting to all tax credits. Michael Novogradac, CPA, and Novogradac partner Brad Elphick, CPA, discuss what the announcement means for multiple types of tax credit investments, including federal low-income housing tax credits, new markets tax credits, historic tax rehabilitation credits and renewable energy tax credits such as the production tax credit and investment tax credit. They discuss how the impacts of proportional amortization can be further expanded and how additional action could spur deeper change.
The Financial Accounting Standards Board released Accounting Standards Update 2023-02, which expanded the ability to use the proportional amortization method of accounting to all tax credits. Michael Novogradac, CPA, and Novogradac partner Brad Elphick, CPA, discuss what the announcement means for multiple types of tax credit investments, including federal low-income housing tax credits, new markets tax credits, historic tax rehabilitation credits and renewable energy tax credits such as the production tax credit and investment tax credit. They discuss how the impacts of proportional amortization can be further expanded and how additional action could spur deeper change.
Pat and Rafael dive into Bitwave's recent blog post about "must have" features crypto accounting software should contain in order to ensure compliance with the Financial Accounting Standards Board's (FASB) proposed new accounting rules for organizations holding crypto and digital assets.Get NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE for listening to this episode.Checkout the Bitwave channel on Earmark to get even more CPEChapters(00:00) - Crypto With Accountants Episode 03 (00:20) - Introduction and what this episode will cover (03:16) - Implementation and customer success (10:43) - What Multi Subsidiary can provide customers (12:38) - Why the "Banking hours" has no correlation with Cryptocurrencies (17:18) - Why is FP&A so important to Crypto? (25:47) - How money is sensitive in the blockchain world? (34:59) - Expense Reporting (41:00) - Security in the crypto world (44:11) - NFT Paris Connect with Patlinkedin.com/in/patwhitetwitter.com/patwhiteConnect with Rafaellinkedin.com/in/rafaelcasastwitter.com/RafaelCasasBWFollow the Crypto With Accountants Podcast on Social Mediafacebook.com/CryptoAcctsPodtwitter.com/CryptoAcctsPodlinkedin.com/showcase/cryptoacctspodLeave a review on Apple Podcasts or PodchaserSubscribe to the Crypto With Accountants Podcast in your favorite podcast app!This podcast is a production of the Earmark Media
For this episode of our weekly podcast, Talking Tax, we're revisiting interviews with some of the biggest tax policy makers in the news this year. The OECD's two-pillar plan to reshape the global tax framework, the Inflation Reduction Act, and getting the court system back to a sense of normalcy amid the pandemic were among the biggest tax stories this year. Kathleen Kerrigan, the new chief judge of the US Tax Court, talks about pushing for more electronic filing of petitions and other challenges. Richard Jones, chairman of the Financial Accounting Standards Board, talks about the new work on his plate as a result of the Inflation Reduction Act. And Pascal Saint-Amans, chief of the OECD's Centre for Tax Policy and Administration until late this year, talks about his decade-plus work revamping global tax rules and some of the organization's under-the-radar initiatives. Saint-Amans is now a partner at Brunswick Group and a professor at Lausanne University. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
Hard Money with Natalie Brunell - Headlines this week include Sam Bankman-Fried's extradition to the US on a record 250 MILLION dollar bail, Binance US purchasing the assets of failed crypto lender Voyager, questions around the health of Binance itself in the wake of the FTX collapse as well as a questionable audit, continued outflows from Binance, Grayscale exploring options to return capital to its investors, the Financial Accounting Standards Board reached an important decision, the Bank of Japan with a surprising change in policy, S&P data suggesting a major downturn in equites, a possible rate increase from the Federal Reserve in early 2023, Mortgage rates at their highest levels in 20 years, increasing credit card debt, strength in luxury retail market, the fate of Elon Musk as Twitter's CEO, and finally, concerns around the relationship between Twitter and the FBI. Plus a preview of Natalie's interview with "Fossil Future" author, Alex Epstein. Watch the full interview with Alex Epstein here: https://www.youtube.com/watch?v=0n6nInK0zHo Hard Money with Natalie Brunell features weekly headlines and hard hitting interviews from the world of Bitcoin and Finance, a macro update with Andy Edstrom, as well as Bitcoin stories from around the world. Hard Money is a production of Swan Studios. Connect with Natalie and Hard Money on Twitter: https://twitter.com/natbrunell https://twitter.com/hardmoneyshow Join us for Pacific Bitcoin Festival 2023! Purchase your tickets now before prices go up: https://PacificBitcoin2023.com Swan Bitcoin is the best way to accumulate Bitcoin with automatic recurring buys and instant buys from $10 to $10 million. Get started in just 5 minutes. your first $10 purchase is on us: https://swanbitcoin.com/yt Are you a high net worth individual or do you represent a corporation that might be interested in learning more about Bitcoin? Swan Private guides corporations and high net worth individuals toward building generational wealth with Bitcoin. Find out more at https://swanbitcoin.com/private Check out the best place for Bitcoin education, Swan Bitcoin's "Bitcoin Canon". Compiling all of the greatest articles, news sources, videos and more from your favorite bitcoiners! https://www.swanbitcoin.com/canon/ #bitcoin #bitcoinnews #hardmoney
My guest for this episode is Melisa Galasso. Melisa is the founder and CEO of Galasso Learning Solutions LLC. A Certified Public Accountant (CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. Melisa is a Certified Speaking Professional (CSP), a Certified Professional in Talent Development (CPTD), and has earned the Association for Talent Development Master Trainer™ designation. Within the industry, Melisa serves on the Financial Accounting Standards Board's (FASB) Not-for-Profit Advisory Committee, the American Institute of CPAs (AICPA)'s Council, and is the Chair of the Girl's on the Run Greater Charlotte Advisory Council. She previously served on the AICPA's Technical Issues Committee and the Virginia Society of CPA's Board of Directors and is a past Chair of the North Carolina Association of CPA's Accounting and Auditing Committee. Melisa is the author of Money Matters for Nonprofits: How Board Members Can Harness the Power of Financial Statements by Understanding Basic Accounting. Here's what to expect during the episode: Why is financial management important for a nonprofit organization? What is the role of technical accounting? Why should nonprofit leaders learn basic financial management? What are the basic financial reports that a board member should understand? What is the difference between an accrual basis and a cash basis? Connect with Melisa Galasso! Websites: https://galassolearningsolutions.com/ | https://moneymattersfornonprofits.com/ LinkedIn: https://www.linkedin.com/in/melisagalasso/ Facebook: https://www.facebook.com/GalassoLearningSolutions/ Go to https://hilandconsulting.org/boardorientationchecklist to get your free Effective Board Orientation Checklist. Mary's book is available on Amazon or wherever books are sold: Love Your Board! The Executive Directors' Guide to Discovering the Sources of Nonprofit Board Troubles and What to Do About Them. Be sure to subscribe to Inspired Nonprofit Leadership so that you don't miss a single episode, and while you're at it, won't you take a moment to write a short review and rate our show? It would be greatly appreciated! Let us know the topics or questions you would like to hear about in a future episode. You can do that, and follow us, on Facebook. Connect with Mary! LinkedIn: https://www.linkedin.com/in/maryhiland Inspired Nonprofit Leadership Facebook Group: https://tinyurl.com/inspirednonprofitleadership Company Facebook: https://www.facebook.com/hilandconsulting Website: https://www.hilandconsulting.org
Tune in as Parth shares his experience using an application that allows creators to have a personal coin with value based on their social clout. Then, hosts break down the Financial Accounting Standards Board’s tentative board decisions for how companies should account for crypto assets and discuss the latest $100 million plus hack impacting Mango Markets. Please remember: this podcast is solely for informational and educational purposes and is not investment, tax, legal or insurance advice. Digital assets are speculative and highly volatile and you should conduct thorough research before you invest. To learn more, visit: fcatalyst.com FMR LLC. © 2022 FMR LLC. All rights reserved.
On location at Bitcoin Amsterdam! - Episode 18 of Hard Money with Natalie Brunell - Headlines this week include the latest CPI print, stocks trading down, continued rate hikes from the US Federal Reserve, rapid deprecation in treasury markets and Janet Yellen making an about face with her new concerns, JP Morgan Chase CEO Jamie Dimon's latest comments on the economy, a new EU band on crypto payments to Russian wallets, additional quantitative easing measures for the UK, Paul Tudor Jones on Bitcoin and the economy, the Financial Accounting Standards Board stating that companies should use fair-value accounting for measuring Bitcoin holdings, a new all-time- high for bitcoin mining difficulty. Paypal backtracking, and finally JP Morgan Chase cancelling its relationship with Kanye West. This week's special guest if Christian Keroles, Managing Director of Bitcoin Magazine, and this week's special report shares some highlights from The Bitcoin Conference in Amsterdam put on by Bitcoin Magazine. Chapters: 00:00:00 "Hard Money" Intro 00:00:35 Macroeconomic and Bitcoin Headlines from this Week 00:08:46 Join us at Pacific Bitcoin 00:09:32 Learn about the Fold App and Fold Card 00:09:53 Interview with Christian Keroles of Bitcoin Magazine 00:14:48 Learn about Marathon Bitcoin Mining 00:15:29 Bitcoin Magazine - The Censorship Resistant Issue 00:15:59 Highlight from The Bitcoin Conference Amsterdam - Special Report 00:20:33 "Hard Money" Outro Hard Money with Natalie Brunell features weekly headlines and hard hitting interviews from the world of Bitcoin and Finance, a macro update with Andy Edstrom, as well as Bitcoin stories from around the world. Hard Money is a production of Swan Studios. Connect with Natalie and Hard Money on Twitter: https://twitter.com/natbrunell https://twitter.com/hardmoneyshow Save the date for the Pacific Bitcoin Conference, November 10th & 11th in Los Angeles, California. Purchase your tickets now before the prices go up: https://pacificbitcoin.com Swan Bitcoin is the best way to accumulate Bitcoin with automatic recurring buys and instant buys from $10 to $10 million. Get started in just 5 minutes. your first $10 purchase is on us: https://swanbitcoin.com/yt Are you a high net worth individual or do you represent a corporation that might be interested in learning more about Bitcoin? Swan Private guides corporations and high net worth individuals toward building generational wealth with Bitcoin. Find out more at https://swanbitcoin.com/private Check out the best place for Bitcoin education, Swan Bitcoin's "Bitcoin Canon". Compiling all of the greatest articles, news sources, videos and more from your favorite bitcoiners! https://www.swanbitcoin.com/canon/ #bitcoin #bitcoinnews #hardmoney
In this week's special episode, we are discussing the deals market in 2022. Host Heather Horn sat down with Mike Bellin and John Vanosdall, partners in PwC's Deals practice, to get some insight on current deals trends and how companies can prepare for IPOs, M&A's, and other capital market transactions in today's environment.In this episode you'll hear:1:37 - Key impacts on the deals market from inflation, interest rates, supply chain, and geopolitical events6:30 - How companies are structuring deals and M&A transactions to maximize value given current market conditions17:49 - How this year's deals market has impacted the diligence process20:40 - The importance of managing regulatory, accounting, and impairment considerations proactively28:13 - How geopolitics and ESG continue to be at the forefront of discussions in getting transactions done31:52 - Insights on how companies can manage IPO and deal readiness in the midst of volatilityWant to learn more? Check out the Q3 capital markets watch, learn more on transformation in the M&A market, and sign up to receive a copy of our Deals 2023 outlook report.Mike Bellin is a PwC Deals partner and co-leads PwC's IPO Services practice. Mike focuses on IPOs, SPACs, accounting for carve-outs/spin-offs, purchase accounting, pro forma financial statements, stock compensation, the SEC registration process, and much more. In addition, he frequently advises on IPOs, helping his clients with their initial registration process and operational readiness.John Vanosdall is a partner in PwC's Deals practice. He has 10+ years of experience providing corporate and private equity clients in the technology sector with advice on complex M&A accounting issues, including business combinations, disposal transactions, and fair value measurements. John spent 4 years working at the SEC, two of those years as Deputy Chief Accountant, where he led the SEC staff's work to oversee the Financial Accounting Standards Board.Heather Horn is a Deputy Chief Accountant in PwC's National Office and leader of the thought leadership group, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.
Richard Jones took the helm of the board charged with writing US accounting rules the same year the coronavirus pandemic upended the economy. Jones and the six other members of the Financial Accounting Standards Board had to act quickly to tackle questions on how to use accounting standards during such an uncertain time. Two years later, FASB is plotting its next big moves, including writing rules for buzzy topics like cryptocurrency and figuring out how the new tax-and-climate law will impact its work. On this episode of Talking Tax, Jones speaks with Bloomberg Tax's Nicola M. White about FASB's agenda and how the standard-setter works with a Securities and Exchange Commission that's increasingly active in accounting issues. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
Navigating the Financial Accounting Standards Board's new lease standard, ASC 842, involves a complex choreography of financial statement organization and preparation. In this episode of It Figures, CRI Partners Lorri Kidder and Alyssa Hill explain how strategic planning, cloud-based software, and a little bit of elbow grease can streamline the lease accounting process.
Wouldn't it be nice if crypto accounting were less ... cryptic? FASB, the Financial Accounting Standards Board, has finally said it will think about setting rules around accounting for certain digital assets like bitcoin. Ben Taylor of SoftLedger, whose accounting software can help automate cryptocurrency transactions, breaks it all down. Listen in.
In this episode, Courtenay welcomes Dr. David Martin to the show to discuss the origins of conformity. If you believe that what we're seeing today in the “Covid Crisis” is new, Dr. David Martin is here to challenge that thought. He points to historical evidence of how conformity, constriction, and conditioning has been at play for centuries. In doing so, it has inhibited people from truly grasping what it means to be alive and to live in truth. In this episode, Dr. David Martin also scratches the surface of the economic downfall we can expect to see in 2028, in a follow up episode he'll share how to prepare. Dr. David Martin is the founder, CEO, and Chairman of M-CAM. He's the developer of several innovation-based quantitative indices of public equities and is the Founder of the Purple Bridge Funds. He managed the Innovation Alpha ETFs (NYSE:INAU; NYSE:INAG; and NYSE:TWAR). He is the creator of the public equity index – the CNBC IQ100 powered by M·CAM which now is reported as a leading economic indicator for the U.S. and Global Innovation Economy published by The Conference Board. As a spokesperson for global financial and intangible asset accountability and quality reform, Dr. Martin has worked closely with the United States Congress and numerous trade and financial regulatory agencies in the United States, Europe, and Asia in advocating and deploying infrastructure to support growing reliance on contract and proprietary rights in business transactions. Under the leadership of Dr. Martin, M·CAM has supported the modernization of banking, intangible asset, tax, and accounting laws through its work with oversight agencies and policy makers. This work included work with the United States Congress, the Financial Accounting Standards Board, the United States Departments of the Treasury and Commerce, the European Union and many other countries. Dr. Martin received his undergraduate (BA) from Goshen College, his Masters of Science from Ball State University, and his Doctorate (PhD) from the University of Virginia. Dr. Martin is a Batten Fellow at the University of Virginia's Darden Graduate School of Business Administration. ————————————————— Follow & Connect with Courtenay: https://www.courtenayturner.com Twitter: Courtenay Turner (@CourtenayTurner) :https://twitter.com/CourtenayTurner?s=20 Instagram: https://instagram.com/kineticcourtz?utm_medium=copy_link Read some of her articles: https://www.truthmatters.biz ————————————————— Other video Platforms: Rokfin: https://www.rokfin.com/courtenayturner Odysee: https://odysee.com/@CourtenayTurner:f Rumble: https://rumble.com/user/CourtenayTurner BitChute: https://www.bitchute.com/channel/yNVIxoBspPt6/ ————————————————— Video Edited By Griffo Productions www.griffoproductions.com ————————————————— ©2022 All Rights Reserved Learn more about your ad choices. Visit megaphone.fm/adchoices
The Emerging Issues Task Force of the Financial Accounting Standards Board is considering changing the generally accepted accounting practices for tax credit investments beyond the low-income housing tax credit (LIHTC), a move that could alter the landscape for investors. Michael Novogradac, CPA, and partner Brad Elphick, CPA, discuss the state of play for potential changes to the proportional amortization method for tax credits other than the LIHTC. They discuss 2014 EITF guidance for the LIHTC and how it affected the affordable housing world, then they look at the current status of the efforts to broaden the use of the proportional amortization method to other tax credits. After that, they discuss the criteria needed to use proportional amortization in LIHTC properties, diving into specifics. They wrap up by discussing possible timelines for guidance and details of a Novogradac GAAP Accounting for Tax Credit Working Group.
The Emerging Issues Task Force of the Financial Accounting Standards Board is considering changing the generally accepted accounting practices for tax credit investments beyond the low-income housing tax credit (LIHTC), a move that could alter the landscape for investors. Michael Novogradac, CPA, and partner Brad Elphick, CPA, discuss the state of play for potential changes to the proportional amortization method for tax credits other than the LIHTC. They discuss 2014 EITF guidance for the LIHTC and how it affected the affordable housing world, then they look at the current status of the efforts to broaden the use of the proportional amortization method to other tax credits. After that, they discuss the criteria needed to use proportional amortization in LIHTC properties, diving into specifics. They wrap up by discussing possible timelines for guidance and details of a Novogradac GAAP Accounting for Tax Credit Working Group.
A severe talent shortage caused by the "Great Resignation" will be the most important issue affecting accounting work in 2022, according to three senior accountants. Labor shortages, along with a loss of institutional knowledge, will cause problems not only at the firms accountants are auditing, but within the accounting firms themselves. Given how widespread this phenomenon is across different sectors, it's a problem that can't necessarily be solved with higher salaries and bonuses. On today's Talking Tax podcast, Bloomberg Tax's Amanda Iacone speaks with three accountants about what they expect will be driving their profession in 2022. In addition to the Great Resignation, they also talk about complying with new sustainability reporting rules and the prospect of new rules coming from the Financial Accounting Standards Board. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690
David Trainer is CEO of New Constructs. We talk with David about data science and machine learning, what technology skills finance and investment professionals need, and the future of investments and artificial intelligence! New Constructs is an independent debt & equity research firm that specializes in leveraging cutting edge machine learning technology. The company was started in 2002 by David Trainer who is a Wall Street veteran and corporate finance expert. He has previously advised the Financial Accounting Standards Board on how to ensure accounting rules align with the best interests of investors as a member of the Investors Advisory Committee. David has held numerous prominent roles with hedge funds, asset managers, and Wall Street firms. He has created many world-renowned financial and economic models. Prior to Wall Street, David worked with Arthur Andersen. In 1994, he earned his B.S. in International Business from Trinity University in San Antonio, TX. David is also author of Modern Tools for Valuation. View additional resources
House Representative Tom Emmer, of Minnesota, is one of the most active voice for crypto and blockchain in the US government. In this episode, he discusses: what book made Tom fall down the crypto rabbit hole why Tom believes the Financial Accounting Standards Board needs to set clear accounting standards for cryptocurrencies why the current way of accounting for Bitcoin on balance sheets may be a detriment to companies in the future how he feels about the acting head of the OCC putting together a “sprint team” of federal regulators to establish overarching crypto standards why he is fighting to change tax rules for forked coins what problems the Eliminate Barriers to Innovation Act might solve why he is so passionate about the Securities Clarity Act, which would explicitly separate digital tokens from securities how DeFi should be regulated and why he is not a fan of FATF's recently proposed guidance Tom's prediction for when these bills may actually become law Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021 Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero NEAR: https://near.org Episode Links Tom Emmer Twitter: https://twitter.com/RepTomEmmer Website: https://emmer.house.gov/ Documents Mentioned FASB letter https://emmer.house.gov/2021/5/emmer-urges-fasb-to-issue-clear-accounting-standards-for-virtual-currencies Eliminate Barriers to Innovation Act https://www.forbes.com/sites/jasonbrett/2021/04/22/us-house-passes-bill-to-create-first-crypto-task-force-on-digital-assets/ Safe Harbor for Taxpayers with Forked Assets Act https://emmer.house.gov/2021/5/emmer-introduces-legislation-to-protect-taxpayers-with-digital-assets-pending-further-irs-guidance Securities Clarity Act https://emmer.house.gov/2020/9/emmer-introduces-legislation-to-provide-clarity-for-digital-assets-under-securities-law Proposed FATF Guidance (quick breakdown) https://www.coincenter.org/a-quick-analysis-of-fatfs-2021-draft-cryptocurrency-guidance/ Miscellaneous Congressional Blockchain Caucus https://congressionalblockchaincaucus-schweikert.house.gov/members US Regulatory “sprint” https://decrypt.co/71975/us-agencies-sprint-align-on-bitcoin-regulations Michael Saylor episode https://unchainedpodcast.com/why-bitcoin-now-michael-saylor-on-the-best-way-for-companies-to-buy-bitcoin/ Age of Cryptocurrency https://www.amazon.com/The-Age-of-Cryptocurrency
House Representative Tom Emmer, of Minnesota, is one of the most active voice for crypto and blockchain in the US government. In this episode, he discusses: what book made Tom fall down the crypto rabbit hole why Tom believes the Financial Accounting Standards Board needs to set clear accounting standards for cryptocurrencies why the current way of accounting for Bitcoin on balance sheets may be a detriment to companies in the future how he feels about the acting head of the OCC putting together a “sprint team” of federal regulators to establish overarching crypto standards why he is fighting to change tax rules for forked coins what problems the Eliminate Barriers to Innovation Act might solve why he is so passionate about the Securities Clarity Act, which would explicitly separate digital tokens from securities how DeFi should be regulated and why he is not a fan of FATF’s recently proposed guidance Tom’s prediction for when these bills may actually become law Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021 Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero NEAR: https://near.org Episode Links Tom Emmer Twitter: https://twitter.com/RepTomEmmer Website: https://emmer.house.gov/ Documents Mentioned FASB letter https://emmer.house.gov/2021/5/emmer-urges-fasb-to-issue-clear-accounting-standards-for-virtual-currencies Eliminate Barriers to Innovation Act https://www.forbes.com/sites/jasonbrett/2021/04/22/us-house-passes-bill-to-create-first-crypto-task-force-on-digital-assets/ Safe Harbor for Taxpayers with Forked Assets Act https://emmer.house.gov/2021/5/emmer-introduces-legislation-to-protect-taxpayers-with-digital-assets-pending-further-irs-guidance Securities Clarity Act https://emmer.house.gov/2020/9/emmer-introduces-legislation-to-provide-clarity-for-digital-assets-under-securities-law Proposed FATF Guidance (quick breakdown) https://www.coincenter.org/a-quick-analysis-of-fatfs-2021-draft-cryptocurrency-guidance/ Miscellaneous Congressional Blockchain Caucus https://congressionalblockchaincaucus-schweikert.house.gov/members US Regulatory “sprint” https://decrypt.co/71975/us-agencies-sprint-align-on-bitcoin-regulations Michael Saylor episode https://unchainedpodcast.com/why-bitcoin-now-michael-saylor-on-the-best-way-for-companies-to-buy-bitcoin/ Age of Cryptocurrency https://www.amazon.com/The-Age-of-Cryptocurrency
If after all the ink spilled on the topic of #deaccessioning, you're still unclear what the fuss is about, here's a short summary of the concerns of most art museum directors, excerpted from a presentation I recently made to the Federal Bar Association. We go back to the landmark decision in 1993 by the Financial Accounting Standards Board to restrict the proceeds of art sales to buying new art, the softening of its stance in 2019, and the temporary lifting of restrictions against the use of deaccessioning proceeds by the Association of Art Museum Directors. We recap the swirling external forces bearing down on art museums today regarding the monetization of collections, and I close with the hope that art museums won't discard obligations to preserving our shared cultural heritage and will instead turn to philanthropy to address pressing needs from DEI to operating shortfalls.
If after all the ink spilled on the topic of #deaccessioning, you’re still unclear what the fuss is about, here’s a short summary of the concerns of most art museum directors, excerpted from a presentation I recently made to the Federal Bar Association. We go back to the landmark decision in 1993 by the Financial Accounting Standards Board to restrict the proceeds of art sales to buying new art, the softening of its stance in 2019, and the temporary lifting of restrictions against the use of deaccessioning proceeds by the Association of Art Museum Directors. We recap the swirling external forces bearing down on art museums today regarding the monetization of collections, and I close with the hope that art museums won’t discard obligations to preserving our shared cultural heritage and will instead turn to philanthropy to address pressing needs from DEI to operating shortfalls.
本期节目的嘉宾是我们的朋友吴桑。吴桑是美国卡内基梅隆大学Tepper商学院会计学博士候选人，研究方向是会计信息结构和经济激励。会计常常被看作是一种“实用”的技术，从审计到税收等很多情境下都需要会计学知识和职业人才帮助公司、个人完成投资等操作。但在实用之外，会计学为什么也是一门被教授、研究的学科呢？博士阶段的会计学研究和本科阶段的教育有什么不同？上市公司在准备财务报表时应该遵循哪些准则？这些准则又会如何影响公司、投资者的决策？在理解会计准则的作用之后，我们如何运用这些知识来帮助我们更好地进行个人投资？ 从瑞幸咖啡的财务造假讲起，吴桑和我们在这期节目中聊到了会计准则、服务对象、会计学的目的等话题。本期嘉宾吴桑内容提要+精彩预告00:35 嘉宾介绍01:00 什么是财报？04:00 会计学包含什么？财务会计：“公司希望利润越高越好”税务会计：“公司希望利润越低越好“管理会计：“公司希望信息越准确越好“05:50 以财务会计为例，会计学如何通过设计会计准则而服务于投资者？“投资者在进行投资决策时需要在不同的公司之间进行比较，如果每个公司采用不同的会计方法，公司之间就很难比较”“会计规则降低了投资者处理信息的成本”17:00 如此“实用”的会计学是一个学科吗？会计学领域研究什么？“本科教育培养学生运用规则准备会计信息，不是一个学科““博士阶段研究：拥有怎样特质的会计信息会引导投资者做出怎样的决定，又会怎样影响资源、资本的社会分配；拥有怎样特质的会计信息会影响公司是否主动披露这些信息”21:00 税务会计如何处理公司收益和政府税收的潜在矛盾？“经济学研究如何有效地配置资源；会计学研究在信息不对称的情况下，如何设计这些信息可以辅助配置资源的过程”“政府并不是希望税收越高越好”“会计学研究如何规范会计信息的准备过程，从而尽量减少信息不对称，帮助大家做更好的决定”27:30 理想世界下的完美信息对称为什么不存在？“没有一种衡量和传播信息的方式是完美的”30:00 会计准则的各个要素之间有什么需要权衡取舍的部分？Relevance-reliability tradeoff（相关性-可靠性权衡）Comparability tradeoff（可比性权衡）37:50 进入股市之前应该考察什么？“股票价格取决于公司本身的价值，和其他投资者对于公司价值的判断”“重要的是别人认为这个公司的价值高还是低”44:00 会计学在股票市场中扮演什么角色？——信息结构可以影响共识偶像行业的例子49:50 投资经验小分享“长期投资被舆论影响的程度较小”“短期投资卖出价格更多地取决于社会舆论”“需要知道公司财务报表的数字说明了什么”54:00 学习会计学如何影响了吴桑的生活？56:20 总结 参考资料互联网与娱乐怪盗团. (2020年04月06日). “瑞幸咖啡到底是怎么做假账的？——基于财报的分析.” 新浪财经-自媒体综合. 检索自https://finance.sina.com.cn/stock/stockzmt/2020-04-06/doc-iimxyqwa5255176.shtmlCorona, Carlos and Wu, Sang, "Heterogeneous Interpretations of Public Disclosure, Price Efficiency, and Keynesian Beauty Contests" (November 27, 2019). Available at SSRN: https://ssrn.com/abstract=3388309 or http://dx.doi.org/10.2139/ssrn.3388309Demski, J. S. (2007). Is accounting an academic discipline? Accounting horizons, 21(2), 153-157.Dye, Ronald A., and Sri S. Sridhar. "Reliability‐relevance trade‐offs and the efficiency of aggregation." Journal of Accounting Research 42.1 (2004): 51-88.Financial Accounting Standards Board. (Septermber 2010). “Conceptual Framework for Financial Reporting.” Statement of Financial Accounting Concepts No. 8. Retrieved from https://www.fasb.org/jsp/FASB/Document_C/DocumentPage?cid=1176157498129&acceptedDisclaimer=trueWu, Sang and Xue, Wenjie, "Optimal Comparability, Relative Accounting Performance, and Real Effects" (August 2, 2019). Available at SSRN: https://ssrn.com/abstract=3409454 or http://dx.doi.org/10.2139/ssrn.3409454 片头片尾音乐《Sunrise at Seaside》by 王乾 封面图片Portrait of Luca Pacioli (c. 1495–1500). Attributed to Jacopo de' Barbari. Retrieved from http://www.ritrattopacioli.it/.Luca Pacioli（1445–1517）开创了现在通用的复式记账法，被认为是会计学之父. -----------双重意识是一档「让我们认识到那些我们以为此时此刻与我们生活需求没有关联的东西其实和我们紧密相关」的播客节目。你可以在苹果播客, 喜马拉雅，网易云音乐，荔枝fm，小宇宙APP和Spotify搜索"双重意识DoubleConsciousness"找到我们，关注我们并收听我们的节目， 给我们留言、提供反馈意见。希望加入听友群的朋友可以关注公众号，后台回复“听友群”扫描二维码来和我们一起聊天。
Thriller Premium is covering MicroStrategy World.Now 2021 for the first year, because MicroStrategy is the first publicly traded company to invest significant treasury assets in Bitcoin. At World.Now, you'll hear from MicroStrategy Chairman and CEO Michael Saylor, as well as a slate of BTC industry luminaries, as they discuss this groundbreaking treasury reserve strategy. Were excited as hell to cover this event this year and bring you all the latest highlights to keep you up to date in what is going on with the Corporate adoption space of Bitcoin.Our first day agenda, MicroStrategy provided a concise yet comprehensive overview of the topics corporations needed to address as they develop & implement their Bitcoin strategy. Topics included: 1. Macroeconomic environment, outlook, treasury & investment strategy 2. Integrating Bitcoin into the Balance Sheet or P&L of public & private companies 3. Financial, Operational, Systems, & Execution Considerations 4. Legal & Regulatory Considerations 5. Accounting, Tax, & Audit ConsiderationsHighlightsBitcoin Macro StrategyBitcoin as an investment grade, safe-haven treasury reserve asset. Bitcoin is the solution to the store of value problem faced by all corporations & their customers. In this session, we will discuss:Bitcoin as the emerging dominant monetary networkThe pros & cons of other assets as a treasury reserveThe macroeconomic outlook for the coming four yearsThe history of Bitcoin & structure of the crypto industryCritical developments this year and outlook for next yearSPEAKERS:Michael J. Saylor Chairman and CEO, MicroStrategyMichael Saylor (michael.com) is the Chairman & CEO of MicroStrategy (MSTR), a publicly traded business intelligence firm that he founded in 1989. He is also the founder of Alarm.com (ALRM), named inventor on 40+ patents, & author of the book “The Mobile Wave”. He founded & serves as trustee for the Saylor Academy (saylor.org), a non-profit organization that has provided free education to 800,000+ students. He is an advocate for the Bitcoin Standard (hope.com). He has dual degrees from MIT in Aerospace Engineering & History of Science.Bitcoin Corporate StrategyBitcoin can be integrated into the P&L as well as the balance sheet of corporations.Bitcoin treasury strategyBitcoin product strategyBitcoin service strategyBitcoin for competitive advantageBitcoin to avoid solvency challengesExamples of corporations successfully integrated BitcoinFuture opportunities & competitive dynamicsSPEAKER:Michael J. SaylorChairman and CEO, MicroStrategyMichael Saylor (michael.com) is the Chairman & CEO of MicroStrategy (MSTR), a publicly traded business intelligence firm that he founded in 1989. He is also the founder of Alarm.com (ALRM), named inventor on 40+ patents, & author of the book “The Mobile Wave”. He founded & serves as trustee for the Saylor Academy (saylor.org), a non-profit organization that has provided free education to 800,000+ students. He is an advocate for the Bitcoin Standard (hope.com). He has dual degrees from MIT in Aerospace Engineering & History of Science.Bitcoin Corporate PlaybookA walkthrough of key strategic and operational considerations and associated steps to consider for corporations integrating Bitcoin into a treasury reserve strategy.Corporate governanceVendor selection & due diligenceExecution technique Systems & risk controlsDebt, equity, & shareholder relationsFuture opportunities & competitive dynamicsSPEAKER:Phong LePresident and CFO, MicroStrategyPhong Le has served as President & Chief Financial Officer since July 2020, and has previously served in various senior executive positions, including Senior Executive Vice President, Chief Operating Officer and Chief Financial Officer, since joining MicroStrategy in August 2015. Prior to joining MicroStrategy, Mr. Le served as the chief financial officer of XO Communications, a privately‐held telecommunications company, from August 2014 to August 2015. From March 2010 to August 2014, Mr. Le held senior positions at NII Holdings, a Nasdaq‐listed telecommunications company, including vice president of financial planning and analysis, vice president of strategy and business operations, and vice president of strategic finance. Prior to that, Mr. Le worked in the consulting practice at Deloitte from 1998 to 2010, where he held various positions, including senior manager. Mr. Le holds a B.S. in Biomedical Engineering from The Johns Hopkins University and an M.B.A. from the Sloan School of Management at the Massachusetts Institute of Technology.Jeremy PriceSenior Vice President, Financial Planning & Analysis, MicroStrategyJeremy Price is the Senior Vice President of Financial Planning & Analysis at MicroStrategy and served in that role since 2016. In addition, he has also led our Treasury and Investor Relations teams since 2020, helping lead our treasury reserve and bitcoin initiatives. Mr. Price joined MicroStrategy in 2002 and has served in various roles in the Finance, Consulting and Operations organizations. Mr. Price received a BBA from Loyola University Maryland.Bitcoin Legal ConsiderationsAn overview of key legal & regulatory considerations for corporations integrating Bitcoin into a treasury reserve strategy, from the point of view of the General Counsel.Corporate governanceRegulatory considerationsVendor selection & due diligencePolicies and proceduresDisclosure considerationsSPEAKERS:W. Ming ShaoSEVP and General Counsel, MicroStrategyW. Ming Shao has served as Senior Executive Vice President & General Counsel since December 2014, and has previously served in various senior positions, including Executive Vice President & General Counsel, Senior Vice President & General Counsel, and Senior Vice President & Deputy General Counsel, since joining MicroStrategy in February 2000. Prior to that, Mr. Shao was a lawyer practicing at the global law firm Hogan & Hartson L.L.P. (now Hogan Lovells US LLP). Mr. Shao received an A.B. in Government from Cornell University and a J.D. from Harvard Law School.Euna GreeneAssistant General Counsel, MicroStrategyEuna Greene has served as Assistant General Counsel since May 2020 and has previously served as Principal Senior Counsel and Senior Counsel since joining MicroStrategy in May 2016. Prior to that, Ms. Greene was a lawyer practicing at the global law firm Hogan Lovells US LLP. Ms. Greene received a B.A. in Economics and Psychology from Cornell University and a J.D. from Cornell Law School.J. Dax HansenPartner & Chair, Blockchain Tech & Digital Currency Industry Group, Perkins Coie LLPJ. Dax Hansen is a technology transactions and regulatory attorney who has pioneered blockchain, digital currency, payments and fintech law. Dax serves as chair of the firm's leading Blockchain Technology & Digital Currency industry group, which publicly launched in 2013 after the firm spent several years helping innovators lay the groundwork for blockchain infrastructure. Since 2006, Dax has chaired the firm's Electronic Financial Services (Fintech) practice, which, for decades, has served clients innovating and operating at the intersection of emerging technologies and money.Thomas S. WardPartner, WilmerHale LLPTom Ward is a partner in the Corporate Practice Group and serves as chair of WilmerHale's International Transactions Group. His practice focuses on corporate and securities matters, with an emphasis on public and private offerings, mergers and acquisitions, venture capital work and international transactions.Bitcoin Finance ConsiderationsAn overview of key finance, accounting, tax, and audit considerations for corporations integrating Bitcoin into a treasury reserve strategy.Accounting considerationsTax considerationsAudit considerationsRisk controlsStrategic considerationsSPEAKERS:Phong LePresident and CFO, MicroStrategyPhong Le has served as President & Chief Financial Officer since July 2020, and has previously served in various senior executive positions, including Senior Executive Vice President, Chief Operating Officer and Chief Financial Officer, since joining MicroStrategy in August 2015. Prior to joining MicroStrategy, Mr. Le served as the chief financial officer of XO Communications, a privately‐held telecommunications company, from August 2014 to August 2015. From March 2010 to August 2014, Mr. Le held senior positions at NII Holdings, a Nasdaq‐listed telecommunications company, including vice president of financial planning and analysis, vice president of strategy and business operations, and vice president of strategic finance. Prior to that, Mr. Le worked in the consulting practice at Deloitte from 1998 to 2010, where he held various positions, including senior manager. Mr. Le holds a B.S. in Biomedical Engineering from The Johns Hopkins University and an M.B.A. from the Sloan School of Management at the Massachusetts Institute of Technology.Rob Massey, PartnerGlobal Tax Leader – Blockchain and Digital Assets Rob Massey has over 20 years of professional experience in tax consulting for technology companies. Since 2013, he has focused on blockchain, digital assets, cryptocurrency and tokenization. He serves companies throughout the blockchain ecosystem inclusive of investors, miners, staking providers, payment processing, wallet hosting, exchanges, hedge funds, tokenization and protocol development. Rob leads Deloitte's blockchain efforts in tax for the global firm.Rob's blockchain expertise spans the comprehensive tax considerations of blockchain enabled transactions and the analysis of the tax impacts of tokenization and digital asset transactions across various business models and industries. Rob holds a B.S in Accounting from the University of San Diego and a M.S. in Tax from San Diego State University. Rob is also a certified public accountant.Amy Park, PartnerUS Audit & Assurance Blockchain & Digital Assets SpecialistAmy has more than 16 years of experience in public accounting, including a practice fellowship at the Financial Accounting Standards Board. Currently, she serves as an audit partner in Deloitte's National Office Accounting and Reporting Services specializing in technical accounting matters in consolidation, financial instruments, and digital asset accounting. She also serves on the AICPA's Digital Assets Task Force, focusing on accounting matters. In addition to her technical experience, Amy has served public and private companies in the banking and securities industries. Amy is a member of the American Institute of Certified Public Accountants. Amy holds a B.S. in Economics with a concentration in Accounting from The Wharton School, holds a B.A. in East Asian Studies from the University of Pennsylvania, and is a certified public accountant.MicroStrategy has laid out a concrete plan for every Corporation to add Bitcoin to its Treasury. It has Open Sourced its entire playbook on how to do this from a company first perspective that has never been done before. Very impressed with the attention to detail with MicroStrategy as a company and the on point nature the company displayed today during the conference. References Docs Mentioned in Conference: Bitcoin Initiative – Project Roadmap | Key Considerations for Corporate Investment in Bitcoin | Treasury Reserve Policy | Bitcoin Trading Policy | Contractual Considerations for Digital Asset Custodians | Bitcoin Accounting Treatment Considerations | Corporates Investing in Crypto
Let’s face it - as we approach year-end reporting, the pandemic is top of mind for most preparers. That’s why in this episode, Heather Horn and a team of PwC National Office partners come together to help listeners understand key year-end accounting and reporting considerations related to the impacts of COVID-19.Topics include:1:22 - Debt modifications5:43 - Lease modifications8:32 - Lease abandonment12:18 - CECL considerations15:06 - Fair value 20:33 - Impairment26:01 - Strategic disposals29:29 - Revenue and receivables35:22 - Government grants40:15 - Restructuring and compensation42:42 - SEC remindersTom Barbieri is a PwC partner and the Financial Instruments Accounting Leader in PwC’s National Office. He has over 29 years of experience advising clients on complex accounting financial reporting issues relating to financial instruments. During Tom’s tenure in National, he has been at the forefront of emerging accounting issues and has regular interactions with the Financial Accounting Standards Board, SEC, and other nationally renowned accounting experts.Matt Sabatini is a partner in PwC's National Office with nearly 20 years of experience helping clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, corporate reorganizations, recapitalizations, joint ventures, and other investments. Jay Seliber is a partner in PwC’s National Accounting Services group with over 30 years of experience. He helps clients with their most complex accounting matters, particularly in the areas of revenue recognition, M&A, stock compensation, employee benefits, restructurings, impairments, and financing transactions. Ryan Spencer is a partner in PwC's National Office specializing in SEC financial reporting matters. He has over 20 years of experience serving clients in the technology and life sciences industries and is a frequent contributor to PwC’s publications and communications.Heather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With nearly 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
Yesterday we introduced CECL, The Current Expected Credit Loss. A new accounting standard introduced by the Financial Accounting Standards Board at the end of last year. Less than a year old, and already this somewhat arcane new standard is having a profound effect on the earnings numbers released today. Earlier this morning, the final two of the nation's big four banks announced their third quarter results. And both the Bank of America and Wells Fargo Bank used the new standard to transform their earnings. So let's take a closer look at this CECL, and why its having such an impact on today's earnings.
Yesterday we introduced CECL, The Current Expected Credit Loss. A new accounting standard introduced by the Financial Accounting Standards Board at the end of last year. Less than a year old, and already this somewhat arcane new standard is having a profound effect on the earnings numbers released today. Earlier this morning, the final two of the nation's big four banks announced their third quarter results. And both the Bank of America and Wells Fargo Bank used the new standard to transform their earnings. So let's take a closer look at this CECL, and why its having such an impact on today's earnings.
Yesterday we introduced CECL, The Current Expected Credit Loss. A new accounting standard introduced by the Financial Accounting Standards Board at the end of last year. Less than a year old, and already this somewhat arcane new standard is having a profound effect on the earnings numbers released today. Earlier this morning, the final two of the nation's big four banks announced their third quarter results. And both the Bank of America and Wells Fargo Bank used the new standard to transform their earnings. So let's take a closer look at this CECL, and why its having such an impact on today's earnings.
Josh interviews Jayde Terrell, an Assurance Associate/Auditor for PricewaterhouseCoopers in Tampa, Florida. In her position, she works alongside clients' accounting staffs in order to make sure they're adhering to the standards set forth by the Financial Accounting Standards Board.Big 4 Accounting FirmsPricewaterhouseCoopersDeloitteErnst & YoungKPMGDo you have a job that you think people should know about? Fill out this form for a chance to come on the show and talk about it!Check us out at https://tellmeaboutyourjobpodcast.com!Support the show (https://paypal.me/joshnassar)
To help navigate uncertain times, hear PwC discuss the CARES Act—what’s in it and the accounting impacts.You’ve heard about the CARES Act - but do you know how to account for its provisions. This podcast is the next episode in a series that addresses questions received surrounding the impacts of COVID-19 and related legislation on your financial statements. Heather Horn is joined by PwC’s Pat Durbin, Tom Barbieri, and Michael O’Brien to discuss the accounting implications of the CARES Act as well as highlights from the FASB’s April 8th meeting. Topics include:1:26 - Background. We begin by giving background on the genesis of the bill and an overview of what’s in it.4:15 - Credit losses and troubled debt restructuring. Tom discusses the accounting relief provided to companies in these topical areas and helps to interpret the guidance.11:40 - Grants. The bill contains many different types of grants, including grants for not-for-profits. Pat highlights the different accounting considerations.21:24 - Loan programs. Tom provides an overview of the loan programs in the Act and discusses how borrowers can account for these loans.23:00 - Tax implications. There are a number of items in the Act that have tax implications. Pat explores aspects of the CARES Act that will be accounted for under the income tax guidance.30:55 - Disclosures. There are particular disclosure items that companies need to think about specific to the CARES Act. Pat explains.32:25 - What’s next? We wrap up with thoughts on what listeners may see next coming from Congress. As the leader of the revenue and liabilities division in PwC’s National Office, Pat Durbin leads a team of partners and directors responsible for consulting with our clients and engagement teams on complex accounting matters relating to revenue, compensation, income taxes, inventory and several other topics under both US GAAP and IFRS. Tom Barbieri is a PwC partner and the Financial Instruments Accounting Leader in PwC’s National Office with over 29 years of experience advising clients on complex accounting financial reporting issues relating to financial instruments. During Tom’s tenure in National, he has been at the forefront of emerging accounting issues and has regular interactions with the Financial Accounting Standards Board, SEC, and other nationally renowned accounting experts. Michael O'Brien is a Managing Director in the Office of Government, Regulatory Affairs & Public Policy. In his current role, Michael represents the firm and its interests before Congress, the Executive Branch, and Federal regulatory agencies. He has represented the firm on matters related to the implementation of Sarbanes-Oxley and Dodd-Frank, state and federal taxation, and litigation reform. Heather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting
If you’re unsure about how COVID-19 might impact your financial reporting, you're not alone. In response to the COVID-19 crisis, this podcast is part of a series that will address questions received surrounding the impacts to financial statements. Heather Horn is joined by PwC partners Tom Barbieri, Chip Currie, and Matt Sabatini to focus on the impairment models for various financial instruments.Topics include:0:50 - Available-for-sale (AFS) debt securities. The current economic environment has companies focused on the application of impairment models. Chip and Tom begin by discussing the model for AFS debt securities, as well as give some practical considerations given today’s environment. 7:19 - Equity securities using the measurement alternative. Next, we discuss what companies should consider regarding the impairment model for equity investments accounted for using the measurement alternative.12:30 - Equity method investments. Turning to the last financial instrument in our discussion, Matt provides thoughts on the impairment model for equity method investments and how companies will need to exercise judgment in their evaluation. About our guestsTom Barbieri is a PwC partner and the Financial Instruments Accounting Leader in PwC’s National Office with over 29 years of experience advising clients on complex accounting and financial reporting issues relating to financial instruments. During Tom’s tenure in National, he has been at the forefront of emerging accounting issues and has regular interactions with the Financial Accounting Standards Board, SEC, and other nationally renowned accounting experts. Chip Currie is a Partner in PwC’s National Office with over 20 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments for both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters.Matt Sabatini is a partner in PwC's National Office with nearly 20 years of experience helping clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, corporate reorganizations, recapitalizations, joint ventures, and other investments. About our hostHeather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
If you’re unsure about how COVID-19 might impact your financial reporting, you're not alone. In response to the COVID-19 crisis, this podcast is the first in a series that will address questions received surrounding the impacts to financial statements. Heather Horn is joined by Chris Merchant and Tom Barbieri, PwC partners, to focus on fair value considerations.Topics include:0:40 - Market overview. We begin by discussing how COVID-19 is affecting world markets and the profound challenges that businesses are facing.3:32 - Valuation considerations. Fair value is one area of GAAP that has not significantly changed in recent years. Here we discuss the fundamental principles for how companies should think about fair value including the valuation premise and the fair value hierarchy. 9:42 - Determining the fair value during market volatility. COVID-19 disruptions are causing a lot of uncertainty. Tom and Chris explain what companies need to know regarding certain judgements and assumptions. 15:30 - Levelling. Given that companies may be using different inputs in their valuations, Chris discusses what companies should consider as they prepare their levelling tables.21:06 - Oversight. We close the episode by addressing questions received regarding governance over valuation.About our guestsTom Barbieri is a PwC partner and the Financial Instruments Accounting Leader in PwC’s National Office with over 29 years of experience advising clients on complex accounting financial reporting issues relating to financial instruments. During Tom’s tenure in National, he has been at the forefront of emerging accounting issues and has regular interactions with the Financial Accounting Standards Board, SEC, and other nationally renowned accounting experts. Chris Merchant is a partner in PwC’s Financial Markets Practice, leading the Financial Analytics Team. With nearly 20 years of experience serving a diverse range of institutions, Chris advises clients on strategy, operations, and disruption, with a particular focus on harnessing emerging technologies to improve customer experience, draw insights, and leverage data to create institutional value. About our hostHeather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
The Financial Accounting Standards Board is seeking to clarify the reporting of nonfinancial contributions to nonprofits, so it released the first draft of a proposed Accounting Standards Update on the topic. Ahead of the April 10 deadline for comment, we talked with Michael Cade, strategy consultant and executive coach for MFCCoach LLC in Morrisville, Pa., to get his thoughts on the proposed ASU. You can also get more insights from Cade at his blog, Not for Profit – Beyond the Numbers. To read the full transcript click here.
Don't you just hate it when you get used to doing something one way and then something unexpected comes along and flips your world upside down? Well, that's what's happening in the world of lease accounting. While the Financial Accounting Standards Board's Accounting Standards Codification Topic 842 won't actually impact companies until 2021, as always, there are steps businesses should be taking now to prepare. Kerry McElroy and Cody Niese are leading up Rea's internal ASC 842 task force in an effort to ensure that the transition is as smooth as possible for our clients. In this episode, the duo helps us understand the subject of lease accounting a little bit better while explaining why the change is taking place, how it will affect businesses, the next steps businesses should take, and more. Listen to this episode of unsuitable to learn: What is lease accounting and why is it changing? How will the lease accounting change affect small- to mid-sized businesses? What software solutions are available? Learn more about this topic: Listen: https://www.reacpa.com/insight/episode-204-ideas-that-drive-success-in-your-manufacturing-business/ (“Episode 204: Ideas That Drive Success In Your Manufacturing Business”) Read: https://www.reacpa.com/insight/a-closer-look-at-gasb-84-88/ (“A Closer Look At GASB 84 & 88”) Try: https://www.leasecrunch.com/ (LeaseCrunch – Lease Accounting Software for CPA Firms) If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use https://urldefense.proofpoint.com/v2/url?u=https-3A__www.google.com_url-3Fq-3Dhttps-3A__www.google.com_url-3Fq-253Dhttps-3A__soundcloud.com_tags_ReaRadio-2526amp-3Bsa-253DD-2526amp-3Bust-253D1495715306637000-2526amp-3Busg-253DAFQjCNEO7cuFlEr4TprDlXnPLFfc9-2Dgibw-26sa-3DD-26ust-3D1495715306647000-26usg-3DAFQjCNEzY2V0AC9u7-5FBmQFuJKyVAvJyQeg&d=DQMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=k7LfU80KH4iNnyPfAqQ-rX5QpCf0a3QOjTYt0O4ZNmU&m=T1q209PKwbilMnNtQPiJxrBmabVSEA0vG_jEl1oE1Fg&s=2nQGrmKAd8X40UODzRu5Qf8X4SHKpfADfpIyDje_vsE&e= (#ReaRadio) to join the conversation. You can also watch the podcast in action on the https://urldefense.proofpoint.com/v2/url?u=https-3A__www.youtube.com_channel_UC-5FeV4nJToshDK5yNISpZH1w&d=DQMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=k7LfU80KH4iNnyPfAqQ-rX5QpCf0a3QOjTYt0O4ZNmU&m=nPEHxkyMiraiLhboRvg_aol6-fqT9JdWkaDW1OWOlxw&s=HoyT0c7uSAdLfAmwU0Ps8RC4nUbrxhjRpa5Cx18qNlA&e= (Rea & Associates YouTube channel) and access additional resources at http://www.reacpa.com/podcast (www.reacpa.com/podcast).
A new U.S. accounting standard is about to make a huge difference in what banks’ financial statements and earnings look like—and for some of them, what their future lending practices could be. The standard is known as CECL—for current expected credit losses. It’s considered accounting rulemakers’ chief response to the 2008 financial crisis. Starting in 2020 banks have to venture into new territory, factoring future economic developments into expectations for credit losses, and put aside loan loss reserves for them. That means impacts on earnings, stock prices, and capital. Some critics say it could affect banks’ appetites for anything but the safest loans. Bloomberg Tax reporter Nicola White spoke with Talking Tax host Amanda Iacone about how the standard works, what challenges banks face, and the latest developments from the Financial Accounting Standards Board.
Since the ABA Banking Journal Podcast last checked in on the Current Expected Credit Loss standard — which is coming into effect for many banks and the vast majority of bank assets on Jan. 1, 2020 — there have been several key developments: the proposal of a three-year delay for private and smaller public companies, the introduction of bipartisan bills that would require the Financial Accounting Standards Board to pause CECL implementation pending a quantitative impact study and questions over the readiness of the audit sector for CECL. In this episode — sponsored by RIVIO Clearinghouse, the future of financial information exchange — ABA accounting experts Michael Gullette and Joshua Stein discuss: The potential competitive effects of an extended period where some banks are on CECL and others are not Concerns about the lack of readiness among auditors on CECL, which are heightened because the effective date is less than three months away The risk of CECL’s reliance on lagging indicators that amplify the standard’s procyclicality The chances of a CECL delay for all institutions, as ABA has urged CECL challenges they heard from community bank CFOs at ABA’s CFO Exchange earlier this month
On August 28, 2017, the Financial Accounting Standards Board issued Accounting Standards Update 2017-12, Derivatives and Hedging (Topic 815): “Targeted Improvements to Accounting for Hedging Activities.” Podcast host Rich Paul, Deloitte & Touche LLP’s US Audit & Assurance Consumer industry leader, welcomes Deloitte & Touche LLP Audit & Assurance partners, Jon Howard and Chris Monteilh, to discuss the accounting standard and considerations for companies in the consumer industry.
We spend a lot of time on this show talking about future trends and technologies — things like artificial intelligence, blockchain, and automation – and, more importantly, what those things mean for the future of our profession. But there are many other hard trends — a.k.a. future facts, a.k.a. things that we know are going to happen – that will have a huge impact on what we do. The topics aren’t always as sexy, sure, but they’re equally impactful, and if we want to get serious about becoming future-ready, we need to be talking about these things, too. So, that brings us to the decidedly un-sexy world of regulation this week. It probably doesn’t excite you, but we have to talk about this stuff, as a profession, because it might have more of an impact on what we do going forward than anything that technology can throw our way. Luckily, our guest, Russ Golden, is one of the best people to talk to about regulation in the accounting and finance world because Russ is the Chairman of the Financial Accounting Standards Board, better known as FASB. To learn more, and for the complete show notes, visit blionline.org/blog. Resources: Find out more about the FASB’s most recent initiatives at (http://fasb.org/) LinkedIn: https://www.linkedin.com/in/russellgolden Read: “FASB Proposes Improvements Related to Distinguishing Liabilities From Equity” Learn more at MACPA.org/future-learning Future-Proof is a production of (http://crate.media/)
The Financial Accounting Standards Board has issued what's being called “the most significant revision to the U.S. Generally Accepted Accounting Principles' revenue recognition standards in history.” So Chris Roush, a principal in Rea's Millersburg office, and Katie Snyder, a supervisor in our Wooster office, have confronted the changes head on to help business owners understand the new standard, while uncovering opportunities for new bottom line growth. During today's episode, Chris and Katie explain what business owners need to know about this new standard, as well as the opportunities for potential revenue that it creates. Five Steps of Revenue Recognition The Financial Accounting Standards Board's new standard includes five steps of recognizing revenue from contracts with customers: Identify contracts with your customers Identify the performance obligations in the contract (i.e. what is the customer going to get in exchange for what they pay?) Determine the transaction price Allocate the prices to the performance obligations, if there are multiple performance obligations Recognize revenue If you are a business owner or financial professional, you will be interested in these other topics discussed in this episode: What changes are in store for financial statement preparers All GAAP financial statement preparers will need to enhance/expand footnote disclosures regarding revenue, even if there is no other impact How the new standard can actually be viewed as an opportunity to look at other areas of potential revenue If you liked this episode of unsuitable on Rea Radio, let us know by hitting the like button or by sharing it with your professional network. You can also use #ReaRadio to join the conversation on Facebook and Twitter, and you can watch the podcast in action on the Rea & Associates YouTube channel. Additional resources can be found at www.reacpa.com.
Insurance companies that issue long-duration contracts (LDTI) can expect volatility, increased data and disclosure requirements, and the potential for a new market for reinsurers thanks to recent accounting changes, according to Milliman’s William Hines and Francois Dauphin. In the latest episode of Critical Point, Milliman’s life insurance actuaries discuss key takeaways from the Financial Accounting Standards Board (FASB) Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI), which will require significant risk management and has a go-live date of January 2021.
Not-for-profits have their own specific concerns related to the Financial Accounting Standards Board’s new revenue recognition standard. Find out in this episode how the new standard applies to not-for-profits.
Over the past year, we’ve spent a lot of time talking about how the accounting and finance profession is changing – but we haven’t spent nearly as much time talking about how those who regulate our profession are changing. So, on today’s episode, we sit down with Terri Polley, (outgoing) president and CEO of the Financial Accounting Foundation. The FAF is an independent, not-for-profit, private-sector organization that is responsible for the oversight of the Financial Accounting Standards Board, or FASB, and the Governmental Accounting Standards Board, or GASB. To learn more, and for the complete show notes, visit blionline.org/blog. Resources: Learn more at MACPA.org/future-learning LinkedIn: https://www.linkedin.com/in/terripolley/ Read: “Teresa S. Polley to Step Down as President and CEO of Financial Accounting Foundation” Future-Proof is produced by Podcast Masters
In the latest edition of the Nareit REIT Report podcast, Serena Wolfe, a partner at Ernst & Young LLP, discussed the Financial Accounting Standards Board’s lease accounting standard that took effect for publicly traded companies, including REITs, at the beginning of 2019. The new standard had been under discussion for 10 years or more, and “where we actually ended up is very different from where we began,” Wolfe said. The impact for REITs as lessors is not as significant as originally anticipated, and definitely not as large as for lessees, such as restaurants and retailers, she noted. REITs that are lessees, through a ground lease or a building lease, for example, “could face a large absolute dollar value on the balance sheet.” REITs, meanwhile, are largely up to date in adopting the new standard, according to Wolfe. She added that the new standard eliminates real-estate-specific lease guidance, meaning that REITs now have to follow guidance for leases of all assets. REITs will have to step back and look at their procedures and controls and figure out how they need to be adapted or changed, which is “particularly important for our public REITs that have internal control reporting,” she said.
Software upgrades, bug fixes, and a global search for lease data were among the challenges United Parcel Service Inc. faced in preparing to adopt new accounting rules for leases. Beginning in January, public companies will have to report leased assets and liabilities on their balance sheet regardless of the length of the lease, under rules issued by the Financial Accounting Standards Board in 2016. Susan Ward, chief accounting officer for UPS, sat down with Bloomberg Tax’s Amanda Iacone Dec. 11 at the American Institute of CPAs’ Conference on Current SEC and PCAOB Developments in Washington to discuss implementation of the lease accounting standard. She also spoke about the use of robotics process automation in the accounting department, and why a historic change in the auditor’s report represents a “natural extension” of the company’s financial disclosures. Host: Amanda Iacone. Producer: Nicholas Anzalotta-Kynoch.
In this podcast we explore the possible outcomes of Deere's lawsuits against Precision Planting and AGCO, how high-speed ISOBUS will expedite plug & play compatibility, Titan Machinery's first quarter earnings for fiscal year 2019, and rancher sentiment and changes to the Financial Accounting Standards Board's accounting standards for companies that lease equipment.
Today we're joined by SVCF COO and CFO Paul Velaski and Moss Adams Partner Liz Dollar to discuss the Financial Accounting Standards Board's updates to the accounting standards for nonprofit entities. Paul and Liz walk us through some of the major changes to reporting, which by and large should have a positive effect on the nonprofit sector. They cover early adoption of these standards, how disclosure requirements will change, and why accounting should be easier thanks to these updates. Access the full show notes at siliconvalleycf.org
Clara Miller is President of the Heron Foundation, which helps people and communities help themselves out of poverty. Prior to assuming the foundation's presidency, Miller was President and CEO of Nonprofit Finance Fund which she founded and ran from 1984 through 2010. In addition to serving on Heron's board, Miller is on the boards of the Sustainability Accounting Standards Board (SASB) and she is a member of the U.S. Advisory Committee to the G8 on Impact investing, named in 2014. From 2010-2014 Miller was a member of the first Nonprofit Advisory Committee of the Financial Accounting Standards Board. Ms. Miller speaks and writes extensively and has been published in The Financial Times, Stanford Social Innovation Review, The Nonprofit Quarterly and the Chronicle of Philanthropy, and her newest essay is titled Building a foundation for the 21st Century. In 2015, Miller and Heron were named Investor of the Year by Institutional Investor Magazine in the category "small foundations." In 2014, Miller and Heron received the Prince's Prize for Innovative Philanthropy from the Prince Albert II of Monaco Foundation and the “Shining Star Award” from New York City performance space, PS122. She was awarded a Bellagio Residency in 2010 by The Rockefeller Foundation and was named to The NonProfit Times “Power and Influence Top 50” for the five years from 2006 through 2010. Heron.org Twitter: @ImpInvPodcast Facebook: Impact Investing Podcast www.impactinvestingpodcast.com Clara Miller: https://www.linkedin.com/in/clara-miller-4b261614
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts by talking about the progress congressional lawmakers are making in finalizing a joint budget agreement. He also shares updated guidance from the Financial Accounting Standards Board on how nonprofits should present their financial statements. In the affordable housing section, he discusses how the House Appropriations Committee last week approved fiscal year 2016 allocation for funding the Departments of Transportation and Housing and Urban Development. Then, he talks about a private letter ruling released by the IRS that could affect how LIHTC developers think about eligible basis under Section 42. He also shares news about an upcoming webinar designed to help LIHTC property owners and managers avoid tax credit recapture. To close out the section, he discusses news about a national leader in affordable housing who is retiring this summer. In the new markets tax credit section, he talks about how listeners can join and contribute to the New Markets Tax Credit Working Group. In the historic tax credit section, he provides recommended practices for structuring transactions so that they satisfy safe harbor requirements. In the same section, he shares a state-level example of what can happen when tax credit investments are not structured properly. After that, he outlines some new regulations adopted for the Iowa state historic tax credit that will go into effect in a few weeks. In the renewable energy tax credit section, he discusses a bill that was introduced to phase out and repeal the federal renewable energy production tax credit. To close out this week's podcast, he talks about a recent report on how the solar industry could be in trouble if the investment tax credit is not extended.
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts by talking about the progress congressional lawmakers are making in finalizing a joint budget agreement. He also shares updated guidance from the Financial Accounting Standards Board on how nonprofits should present their financial statements. In the affordable housing section, he discusses how the House Appropriations Committee last week approved fiscal year 2016 allocation for funding the Departments of Transportation and Housing and Urban Development. Then, he talks about a private letter ruling released by the IRS that could affect how LIHTC developers think about eligible basis under Section 42. He also shares news about an upcoming webinar designed to help LIHTC property owners and managers avoid tax credit recapture. To close out the section, he discusses news about a national leader in affordable housing who is retiring this summer. In the new markets tax credit section, he talks about how listeners can join and contribute to the New Markets Tax Credit Working Group. In the historic tax credit section, he provides recommended practices for structuring transactions so that they satisfy safe harbor requirements. In the same section, he shares a state-level example of what can happen when tax credit investments are not structured properly. After that, he outlines some new regulations adopted for the Iowa state historic tax credit that will go into effect in a few weeks. In the renewable energy tax credit section, he discusses a bill that was introduced to phase out and repeal the federal renewable energy production tax credit. To close out this week's podcast, he talks about a recent report on how the solar industry could be in trouble if the investment tax credit is not extended.
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about the federal debt ceiling and why Treasury Secretary Jacob Lew is urging Congress to raise the debt limit as soon as possible. He also discusses updated consolidation guidance from the Financial Accounting Standards Board, and shares information about a new bill that was introduced to promote public-private partnerships in social enterprises. In affordable housing news, he shares key information about the release and implementation of HUD's fiscal year 2015 income limits. Then, he provides details on a new proposal package in California that would increase the annual state low-income housing tax credit cap by $300 million. In new markets tax credit news, he shares a Senate bill (S. 591) that was introduced to make the new markets tax credit a permanent part of the tax code. Then, he talks about how listeners can comment on the CDFI Fund's proposed annual assessment for the CDFI Bond Guarantee program. He announces a nominations deadline extension for the Novogradac Journal of Tax Credits Community Development Individual Achievement Awards. In historic tax credit news, he reviews the National Park Service's annual report on the federal historic tax credit. In state-level news, he talks about a second chance for California to have its own state historic tax credit program. He closes with the renewable energy tax credit section, in which he addresses a budget proposal in Louisiana that could scale back several of the state's tax credit programs, including its wind and solar tax credit. He also discusses how North Carolina's renewable energy investment tax credit is proving to be a sound investment.
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the general news section with more information about the status of the Senate's tax reform working groups. He also talks about a stakeholder letter urging lawmakers to protect the effectiveness of municipal bonds. Then, he announces that he will discuss a consolidation guidance update from the Financial Accounting Standards Board in next week's podcast. In the affordable housing section, he shares information on a new bill that was introduced to create a permanent credit percentage floor for the federal low-income housing tax credit. He also discusses a state-level bill from California that could mean an extra $300 million in state low-income housing tax credits. In the new markets tax credit section, he discusses a cosponsor update on the New Markets Tax Credit Extension Act of 2015. In historic tax credit news, he answers a question sent in by a Tax Credit Tuesday listener on a topic that many listeners can relate to: tax credit advocacy. Finally, he closes this week's podcast with the renewable energy tax credit section. He talks about a bill to repeal federal renewable energy tax credits. Then he discusses a report on why North Carolina's red-hot solar industry is in danger of cooling down.
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the general news section with more information about the status of the Senate's tax reform working groups. He also talks about a stakeholder letter urging lawmakers to protect the effectiveness of municipal bonds. Then, he announces that he will discuss a consolidation guidance update from the Financial Accounting Standards Board in next week's podcast. In the affordable housing section, he shares information on a new bill that was introduced to create a permanent credit percentage floor for the federal low-income housing tax credit. He also discusses a state-level bill from California that could mean an extra $300 million in state low-income housing tax credits. In the new markets tax credit section, he discusses a cosponsor update on the New Markets Tax Credit Extension Act of 2015. In historic tax credit news, he answers a question sent in by a Tax Credit Tuesday listener on a topic that many listeners can relate to: tax credit advocacy. Finally, he closes this week's podcast with the renewable energy tax credit section. He talks about a bill to repeal federal renewable energy tax credits. Then he discusses a report on why North Carolina's red-hot solar industry is in danger of cooling down.
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a recap of the latest from Capitol Hill about the fiscal year 2014 budget, tax reform and the Volcker Rule. In low-income housing tax credit news, he discusses the Financial Accounting Standards Board's ratification of the generally accepted accounting principles changes for low-income housing tax credit investments, updates listeners on the U.S. Department of Housing and Urban Development 2014 rent and income limits and provides information about a Harvard University's Joint Center of Housing Studies report on affordable housing. In new markets tax credit news, he shares a report from Rapoza Associates about projects completed by community development corporations and provides an update about the Community Development Financial Institutions Fund's CDFI Information Mapping System upgrade. In historic tax credit news, he shares information about a recommendation to cap Maine's historic tax credit program, an increase in Wisconsin's historic tax credit and a U.S. Government Accountability Office report on decommissioned federal courthouses. In renewable energy tax credit news, he discusses a report from the Solar Energy Industries Association about residential solar installations.
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the Financial Accounting Standards Board's Emerging Issues Task Force's decision to allow changes in how to account for tax credit investments, recently issued Community Reinvestment Act guidance and the latest information about tax reform. In low-income housing tax credit news, he details the release of the 2014 difficult development areas (DDAs) and a Congressional Budget Office proposal about the deficit reduction savings from the repeal of the low-income housing tax credit. In historic tax credit news, he has information about the latest Advisory Council on Historic Preservation meeting and legislation in Wisconsin that would double the state's historic tax credit. In new markets tax credit news, he shares remarks from Comptroller of the Currency Thomas Curry about how the new markets tax credit can be used by banks to meet Community Reinvestment Act requirements. In renewable energy tax credit news, he alerts listeners to the opening of the nomination round for the first Novogradac Journal of Tax Credits Renewable Energy Power Awards
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the Financial Accounting Standards Board's Emerging Issues Task Force's decision to allow changes in how to account for tax credit investments, recently issued Community Reinvestment Act guidance and the latest information about tax reform. In low-income housing tax credit news, he details the release of the 2014 difficult development areas (DDAs) and a Congressional Budget Office proposal about the deficit reduction savings from the repeal of the low-income housing tax credit. In historic tax credit news, he has information about the latest Advisory Council on Historic Preservation meeting and legislation in Wisconsin that would double the state's historic tax credit. In new markets tax credit news, he shares remarks from Comptroller of the Currency Thomas Curry about how the new markets tax credit can be used by banks to meet Community Reinvestment Act requirements. In renewable energy tax credit news, he alerts listeners to the opening of the nomination round for the first Novogradac Journal of Tax Credits Renewable Energy Power Awards
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares news about legislation and continuing resolutions that could provide funding for fiscal year 2014 and changes to the rural housing determinations that could affect rural properties. In low-income housing tax credit news, he discusses the Financial Accounting Standards Board's Emerging Issues Task Force's debate about accounting for the low-income housing tax credit. In renewable energy tax credit news, he covers the possibility of additional IRS guidance on the production tax credit, as well as a recent report that shows that wind farms do not impact house values. In historic tax credit news, he discusses a fiscal year 2013 report from Missouri about the use of state historic tax credits and low-income housing tax credits. In new markets tax credit news, he alerts listeners to the opening of Nebraska's new markets tax credit program's allocation round.
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares news about legislation and continuing resolutions that could provide funding for fiscal year 2014 and changes to the rural housing determinations that could affect rural properties. In low-income housing tax credit news, he discusses the Financial Accounting Standards Board's Emerging Issues Task Force's debate about accounting for the low-income housing tax credit. In renewable energy tax credit news, he covers the possibility of additional IRS guidance on the production tax credit, as well as a recent report that shows that wind farms do not impact house values. In historic tax credit news, he discusses a fiscal year 2013 report from Missouri about the use of state historic tax credits and low-income housing tax credits. In new markets tax credit news, he alerts listeners to the opening of Nebraska's new markets tax credit program's allocation round.
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates Congress's return to session and the issues that they are facing in the next few weeks. In low-income housing tax credit news, he discusses discuss the Financial Accounting Standards Board's Emerging Issues Task Force's meeting this week to make a final ruling on amendments affecting the low-income housing tax credit, and the U.S. Department of Housing and Urban Development's decision to eliminate audits for small multifamily developments. In historic tax credit news, he shares information about Virginia Gov. Bob McDonnell's campaign to change the historic tax credit so that it can be used for school modernization projects, as well as a reminder about next week's fast-approaching Historic Tax Credit Conference in Detroit. In new markets tax credit news, he alert listeners to the latest Qualified Equity Investment Report from the CDFI Fund and some key dates for the 2013/2014 NMTC application round.
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates Congress's return to session and the issues that they are facing in the next few weeks. In low-income housing tax credit news, he discusses discuss the Financial Accounting Standards Board's Emerging Issues Task Force's meeting this week to make a final ruling on amendments affecting the low-income housing tax credit, and the U.S. Department of Housing and Urban Development's decision to eliminate audits for small multifamily developments. In historic tax credit news, he shares information about Virginia Gov. Bob McDonnell's campaign to change the historic tax credit so that it can be used for school modernization projects, as well as a reminder about next week's fast-approaching Historic Tax Credit Conference in Detroit. In new markets tax credit news, he alert listeners to the latest Qualified Equity Investment Report from the CDFI Fund and some key dates for the 2013/2014 NMTC application round.
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the comment letters submitted in response to the Financial Accounting Standards Board's exposure draft of the proposed accounting standards update regarding affordable housing investments. In new markets tax credit news, he alerts listeners to a bill to make the new markets tax credit permanent and to the launch of the CDFI Bond Guarantee program. In historic tax credit news, he discusses an extension of Louisiana's historic tax credit and reminds listeners that there is still time to nominate projects for the Novogradac Journal of Tax Credits Historic Rehabilitation Awards. In low-income housing tax credit news, he invites listeners to Novogradac's first Nonprofit Developers Conference and updates them on the fiscal year 2014 farm bill, which includes a rural status provision. In renewable energy tax credit news, he talks about the Solar Energy Industries Association's Q1 2013 report on solar energy installed and a Nebraska sales tax exemption for the purchase of wind turbines, towers and other wind farm components.
In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the comment letters submitted in response to the Financial Accounting Standards Board's exposure draft of the proposed accounting standards update regarding affordable housing investments. In new markets tax credit news, he alerts listeners to a bill to make the new markets tax credit permanent and to the launch of the CDFI Bond Guarantee program. In historic tax credit news, he discusses an extension of Louisiana's historic tax credit and reminds listeners that there is still time to nominate projects for the Novogradac Journal of Tax Credits Historic Rehabilitation Awards. In low-income housing tax credit news, he invites listeners to Novogradac's first Nonprofit Developers Conference and updates them on the fiscal year 2014 farm bill, which includes a rural status provision. In renewable energy tax credit news, he talks about the Solar Energy Industries Association's Q1 2013 report on solar energy installed and a Nebraska sales tax exemption for the purchase of wind turbines, towers and other wind farm components.
With introduction and welcoming remarks provided by Professor Norman Strauss, Ernst and Young Executive Professor-in-Residence, this daylong conference serves as a forum for interaction between business and accounting executives and policy setters from the Public Company Accounting Oversight Board, U.S. Securities and Exchange Commission and Financial Accounting Standards Board. Featured speakers include SEC Chief Accountant Paul Beswick, FASB Chair Leslie Seidman and PCAOB Board Member Jay Hanson. The Conference has five panels with leading financial experts speaking about various topics including current financial projects, instruments, SEC, GAAP, and development in the private sectors of some companies such as Microsoft, Inc. and Deloitte & Touche LLP, etc., followed by Q & A sessions. Part 2 covers the first portion of the Panel 1. The Big 3 Convergence Projects: Revenue Recognition, Leases and Financial Instruments.
With introduction and welcoming remarks provided by Professor Norman Strauss, Ernst and Young Executive Professor-in-Residence, this daylong conference serves as a forum for interaction between business and accounting executives and policy setters from the Public Company Accounting Oversight Board, U.S. Securities and Exchange Commission and Financial Accounting Standards Board. Featured speakers include SEC Chief Accountant Paul Beswick, FASB Chair Leslie Seidman and PCAOB Board Member Jay Hanson. The Conference has five panels with leading financial experts speaking about various topics including current financial projects, instruments, SEC, GAAP, and development in the private sectors of some companies such as Microsoft, Inc. and Deloitte & Touche LLP, etc., followed by Q & A sessions. Part eight covers Panel 5. Ask the Experts.
With introduction and welcoming remarks provided by Professor Norman Strauss, Ernst and Young Executive Professor-in-Residence, this daylong conference serves as a forum for interaction between business and accounting executives and policy setters from the Public Company Accounting Oversight Board, U.S. Securities and Exchange Commission and Financial Accounting Standards Board. Featured speakers include SEC Chief Accountant Paul Beswick, FASB Chair Leslie Seidman and PCAOB Board Member Jay Hanson. The Conference has five panels with leading financial experts speaking about various topics including current financial projects, instruments, SEC, GAAP, and development in the private sectors of some companies such as Microsoft, Inc. and Deloitte & Touche LLP, etc., followed by Q & A sessions. Part five covers Part V: Luncheon with Keynote Address by Jay Hanson. Panel 3. Current Developments in the Private Sector.
With introduction and welcoming remarks provided by Professor Norman Strauss, Ernst and Young Executive Professor-in-Residence, this daylong conference serves as a forum for interaction between business and accounting executives and policy setters from the Public Company Accounting Oversight Board, U.S. Securities and Exchange Commission and Financial Accounting Standards Board. Featured speakers include SEC Chief Accountant Paul Beswick, FASB Chair Leslie Seidman and PCAOB Board Member Jay Hanson. The Conference has five panels with leading financial experts speaking about various topics including current financial projects, instruments, SEC, GAAP, and development in the private sectors of some companies such as Microsoft, Inc. and Deloitte & Touche LLP, etc., followed by Q & A sessions.
With introduction and welcoming remarks provided by Professor Norman Strauss, Ernst and Young Executive Professor-in-Residence, this daylong conference serves as a forum for interaction between business and accounting executives and policy setters from the Public Company Accounting Oversight Board, U.S. Securities and Exchange Commission and Financial Accounting Standards Board. Featured speakers include SEC Chief Accountant Paul Beswick, FASB Chair Leslie Seidman and PCAOB Board Member Jay Hanson. The Conference has five panels with leading financial experts speaking about various topics including current financial projects, instruments, SEC, GAAP, and development in the private sectors of some companies such as Microsoft, Inc. and Deloitte & Touche LLP, etc., followed by Q & A sessions. Part seven covers Panel 5. Ask the Experts.
With introduction and welcoming remarks provided by Professor Norman Strauss, Ernst and Young Executive Professor-in-Residence, this daylong conference serves as a forum for interaction between business and accounting executives and policy setters from the Public Company Accounting Oversight Board, U.S. Securities and Exchange Commission and Financial Accounting Standards Board. Featured speakers include SEC Chief Accountant Paul Beswick, FASB Chair Leslie Seidman and PCAOB Board Member Jay Hanson. The Conference has five panels with leading financial experts speaking about various topics including current financial projects, instruments, SEC, GAAP, and development in the private sectors of some companies such as Microsoft, Inc. and Deloitte & Touche LLP, etc., followed by Q & A sessions. Part four covers Panel 2. The Latest From SEC's Corp Financial and Enforcement Divisions.
With introduction and welcoming remarks provided by Professor Norman Strauss, Ernst and Young Executive Professor-in-Residence, this daylong conference serves as a forum for interaction between business and accounting executives and policy setters from the Public Company Accounting Oversight Board, U.S. Securities and Exchange Commission and Financial Accounting Standards Board. Featured speakers include SEC Chief Accountant Paul Beswick, FASB Chair Leslie Seidman and PCAOB Board Member Jay Hanson. The Conference has five panels with leading financial experts speaking about various topics including current financial projects, instruments, SEC, GAAP, and development in the private sectors of some companies such as Microsoft, Inc. and Deloitte & Touche LLP, etc., followed by Q & A sessions.
With introduction and welcoming remarks provided by Professor Norman Strauss, Ernst and Young Executive Professor-in-Residence, this daylong conference serves as a forum for interaction between business and accounting executives and policy setters from the Public Company Accounting Oversight Board, U.S. Securities and Exchange Commission and Financial Accounting Standards Board. Featured speakers include SEC Chief Accountant Paul Beswick, FASB Chair Leslie Seidman and PCAOB Board Member Jay Hanson. The Conference has five panels with leading financial experts speaking about various topics including current financial projects, instruments, SEC, GAAP, and development in the private sectors of some companies such as Microsoft, Inc. and Deloitte & Touche LLP, etc., followed by Q & A sessions. Part three covers the second portion of the Panel 1. The Big 3 Convergence Projects: Revenue Recognition, Leases and Financial Instruments.
The not-for-profit accounting and auditing landscape has undergone significant change in recent years. In this podcast, CPA not-for-profit experts Chris Cole, Jennifer Hoffman, Frank Jakosz and Andrew Prather discuss current NFP issues that face CPA preparers and auditors and describe how the AICPA’s newly updated Not-for-Profit Entities Audit and Accounting Guide can be a resource for NFPs. Discussion topics include recent Financial Accounting Standards Board updates, changes in the NFP investment arena, revenue recognition, gifts-in-kind valuation, and taxes and regulatory considerations.
The Sixth Annual Financial Reporting Conference provides a forum for interaction between business and accounting executives and policy setters from the U.S. Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB). The event takes place on May 3, 2007, at Baruch College Vertical Campus, Room 14-220. Norman N. Strauss, Ernst and Young Executive Professor-in-Residence of Baruch College, moderates the conference. [Part I -- 63 min.] Introduction and Welcome Norman N. Strauss, Ernst and Young Executive Professor-in-Residence, Baruch College Kathleen M. Waldron, President, Baruch College Opening Remarks Robert Herz, Chairman, Financial Accounting Standards Board (FASB) Conrad Hewitt, Chief Accountant, Securities and Exchange Commission (SEC) [Part II -- 81 min.] Panel 1: Current Developments at the SEC James L. Kroeker, Deputy Chief Accountant, SEC Carol Stacey, Chief Accountant, Division of Corporation Finance, SEC Susan G. Markel, Chief Accountant, Division of Enforcement, SEC [Part III -- 81 min.] Panel 2: Current Private Sector Developments Leslie Seidman, Board Member, FASB James Johnson, Partner, Deloitte & Touche LLP, Member EITF Michael P. Cangemi, President and CEO, Financial Executive International (FEI) [Part IV -- 135 min.] Luncheon Address by Thomas Ray, Chief Auditor, Public Company Accounting Oversight Board (PCAOB), introduced by Masako Darrough, Professor and Chair of the Stan Ross Department of Accountancy Panel 3: Complexity in Financial Reporting Robert Herz, Chairman, FASB Greg Jonas, Managing Director, Moody's Investors Service Jan Hauser, PricewaterhouseCoopers LLP Scott Taub, Partner, Financial Reporting Advisors Robert Laux,Director of Financial Accounting and Reporting, Microsoft, Inc. [Part V -- 75 min.] Panel 4: Fair Value Implementation Leslie Seidman, Board Member, FASB Don Charles, Partner, Ernst & Young LLP James W. Barge, Senior Vice President and Controller, Time Warner Marc Northam, Partner, KPMG LLP Greg Jonas, Managing Director, Moody's Investors Service
The Sixth Annual Financial Reporting Conference provides a forum for interaction between business and accounting executives and policy setters from the U.S. Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB). The event takes place on May 3, 2007, at Baruch College Vertical Campus, Room 14-220. Norman N. Strauss, Ernst and Young Executive Professor-in-Residence of Baruch College, moderates the conference. [Part I -- 63 min.] Introduction and Welcome Norman N. Strauss, Ernst and Young Executive Professor-in-Residence, Baruch College Kathleen M. Waldron, President, Baruch College Opening Remarks Robert Herz, Chairman, Financial Accounting Standards Board (FASB) Conrad Hewitt, Chief Accountant, Securities and Exchange Commission (SEC) [Part II -- 81 min.] Panel 1: Current Developments at the SEC James L. Kroeker, Deputy Chief Accountant, SEC Carol Stacey, Chief Accountant, Division of Corporation Finance, SEC Susan G. Markel, Chief Accountant, Division of Enforcement, SEC [Part III -- 81 min.] Panel 2: Current Private Sector Developments Leslie Seidman, Board Member, FASB James Johnson, Partner, Deloitte & Touche LLP, Member EITF Michael P. Cangemi, President and CEO, Financial Executive International (FEI) [Part IV -- 135 min.] Luncheon Address by Thomas Ray, Chief Auditor, Public Company Accounting Oversight Board (PCAOB), introduced by Masako Darrough, Professor and Chair of the Stan Ross Department of Accountancy Panel 3: Complexity in Financial Reporting Robert Herz, Chairman, FASB Greg Jonas, Managing Director, Moody's Investors Service Jan Hauser, PricewaterhouseCoopers LLP Scott Taub, Partner, Financial Reporting Advisors Robert Laux,Director of Financial Accounting and Reporting, Microsoft, Inc. [Part V -- 75 min.] Panel 4: Fair Value Implementation Leslie Seidman, Board Member, FASB Don Charles, Partner, Ernst & Young LLP James W. Barge, Senior Vice President and Controller, Time Warner Marc Northam, Partner, KPMG LLP Greg Jonas, Managing Director, Moody's Investors Service
The Sixth Annual Financial Reporting Conference provides a forum for interaction between business and accounting executives and policy setters from the U.S. Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB). The event takes place on May 3, 2007, at Baruch College Vertical Campus, Room 14-220. Norman N. Strauss, Ernst and Young Executive Professor-in-Residence of Baruch College, moderates the conference. [Part I -- 63 min.] Introduction and Welcome Norman N. Strauss, Ernst and Young Executive Professor-in-Residence, Baruch College Kathleen M. Waldron, President, Baruch College Opening Remarks Robert Herz, Chairman, Financial Accounting Standards Board (FASB) Conrad Hewitt, Chief Accountant, Securities and Exchange Commission (SEC) [Part II -- 81 min.] Panel 1: Current Developments at the SEC James L. Kroeker, Deputy Chief Accountant, SEC Carol Stacey, Chief Accountant, Division of Corporation Finance, SEC Susan G. Markel, Chief Accountant, Division of Enforcement, SEC [Part III -- 81 min.] Panel 2: Current Private Sector Developments Leslie Seidman, Board Member, FASB James Johnson, Partner, Deloitte & Touche LLP, Member EITF Michael P. Cangemi, President and CEO, Financial Executive International (FEI) [Part IV -- 135 min.] Luncheon Address by Thomas Ray, Chief Auditor, Public Company Accounting Oversight Board (PCAOB), introduced by Masako Darrough, Professor and Chair of the Stan Ross Department of Accountancy Panel 3: Complexity in Financial Reporting Robert Herz, Chairman, FASB Greg Jonas, Managing Director, Moody's Investors Service Jan Hauser, PricewaterhouseCoopers LLP Scott Taub, Partner, Financial Reporting Advisors Robert Laux,Director of Financial Accounting and Reporting, Microsoft, Inc. [Part V -- 75 min.] Panel 4: Fair Value Implementation Leslie Seidman, Board Member, FASB Don Charles, Partner, Ernst & Young LLP James W. Barge, Senior Vice President and Controller, Time Warner Marc Northam, Partner, KPMG LLP Greg Jonas, Managing Director, Moody's Investors Service
The Sixth Annual Financial Reporting Conference provides a forum for interaction between business and accounting executives and policy setters from the U.S. Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB). The event takes place on May 3, 2007, at Baruch College Vertical Campus, Room 14-220. Norman N. Strauss, Ernst and Young Executive Professor-in-Residence of Baruch College, moderates the conference. [Part I -- 63 min.] Introduction and Welcome Norman N. Strauss, Ernst and Young Executive Professor-in-Residence, Baruch College Kathleen M. Waldron, President, Baruch College Opening Remarks Robert Herz, Chairman, Financial Accounting Standards Board (FASB) Conrad Hewitt, Chief Accountant, Securities and Exchange Commission (SEC) [Part II -- 81 min.] Panel 1: Current Developments at the SEC James L. Kroeker, Deputy Chief Accountant, SEC Carol Stacey, Chief Accountant, Division of Corporation Finance, SEC Susan G. Markel, Chief Accountant, Division of Enforcement, SEC [Part III -- 81 min.] Panel 2: Current Private Sector Developments Leslie Seidman, Board Member, FASB James Johnson, Partner, Deloitte & Touche LLP, Member EITF Michael P. Cangemi, President and CEO, Financial Executive International (FEI) [Part IV -- 135 min.] Luncheon Address by Thomas Ray, Chief Auditor, Public Company Accounting Oversight Board (PCAOB), introduced by Masako Darrough, Professor and Chair of the Stan Ross Department of Accountancy Panel 3: Complexity in Financial Reporting Robert Herz, Chairman, FASB Greg Jonas, Managing Director, Moody's Investors Service Jan Hauser, PricewaterhouseCoopers LLP Scott Taub, Partner, Financial Reporting Advisors Robert Laux,Director of Financial Accounting and Reporting, Microsoft, Inc. [Part V -- 75 min.] Panel 4: Fair Value Implementation Leslie Seidman, Board Member, FASB Don Charles, Partner, Ernst & Young LLP James W. Barge, Senior Vice President and Controller, Time Warner Marc Northam, Partner, KPMG LLP Greg Jonas, Managing Director, Moody's Investors Service
The Sixth Annual Financial Reporting Conference provides a forum for interaction between business and accounting executives and policy setters from the U.S. Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB). The event takes place on May 3, 2007, at Baruch College Vertical Campus, Room 14-220. Norman N. Strauss, Ernst and Young Executive Professor-in-Residence of Baruch College, moderates the conference. [Part I -- 63 min.] Introduction and Welcome Norman N. Strauss, Ernst and Young Executive Professor-in-Residence, Baruch College Kathleen M. Waldron, President, Baruch College Opening Remarks Robert Herz, Chairman, Financial Accounting Standards Board (FASB) Conrad Hewitt, Chief Accountant, Securities and Exchange Commission (SEC) [Part II -- 81 min.] Panel 1: Current Developments at the SEC James L. Kroeker, Deputy Chief Accountant, SEC Carol Stacey, Chief Accountant, Division of Corporation Finance, SEC Susan G. Markel, Chief Accountant, Division of Enforcement, SEC [Part III -- 81 min.] Panel 2: Current Private Sector Developments Leslie Seidman, Board Member, FASB James Johnson, Partner, Deloitte & Touche LLP, Member EITF Michael P. Cangemi, President and CEO, Financial Executive International (FEI) [Part IV -- 135 min.] Luncheon Address by Thomas Ray, Chief Auditor, Public Company Accounting Oversight Board (PCAOB), introduced by Masako Darrough, Professor and Chair of the Stan Ross Department of Accountancy Panel 3: Complexity in Financial Reporting Robert Herz, Chairman, FASB Greg Jonas, Managing Director, Moody's Investors Service Jan Hauser, PricewaterhouseCoopers LLP Scott Taub, Partner, Financial Reporting Advisors Robert Laux,Director of Financial Accounting and Reporting, Microsoft, Inc. [Part V -- 75 min.] Panel 4: Fair Value Implementation Leslie Seidman, Board Member, FASB Don Charles, Partner, Ernst & Young LLP James W. Barge, Senior Vice President and Controller, Time Warner Marc Northam, Partner, KPMG LLP Greg Jonas, Managing Director, Moody's Investors Service
On April 2 the Financial Accounting Standards Board is expected to vote on a proposal to relax a standard at the heart of the financial crisis -- mark-to-market accounting rules that require toxic assets to be carried on companies' books at fire-sale prices based on recent trades of similar assets for far less than they would command in normal times. Many big banks say the crisis has been made worse by these rules. Not everyone agrees. See acast.com/privacy for privacy and opt-out information.
The Financial Accounting Standards Board has overhauled the coding structure for GAAP
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