Genuine Learning Blog: FASB Issues ITC on KPIs
On November 14, 2024, the Financial Accounting Standards Board (FASB) issued an Invitation to Comment (ITC) on Financial Key Performance Indicators (KPIs) for Business Entities. This ITC [...]
Genuine Learning Blog: Proposed ASU on Environmental Credits (Topic 818)
From Gray to Green: New Proposed Standards for Environmental Credits Accounting for environmental credits has been a gray area for years, but FASB is looking to bring some [...]
Genuine Learning Blog: FASB ITC – 2025 Agenda Consultation
The FASB has issued an Invitation to Comment for a 2025 Agenda Consultation. Similar to the 2021 Consultation, the FASB is proposing a variety of potential future [...]
Genuine Learning Blog: Proposed ASU on Interim Reporting (Topic 270)
Don't let Annual Reporting steal all the spotlight! Interim Reporting matters too! The FASB has proposed updates to Interim Reporting (Topic 270) to improve clarity and ensure [...]
Genuine Learning Blog – AICPA Ethics: Simultaneous Employment Proposal
On December 16, 2024 the AICPA's Professional Ethics Executive Committee (PEEC) issued proposed revisions related to simultaneous employment or association with an attest client. Key changes from [...]
Genuine Learning Blog: FASB Proposes Changes to Grant Accounting for Businesses
The FASB has proposed new accounting guidance for business entities who receive government grants. ASU 2018-08 explicitly excludes transfers of assets from government entities to business entities [...]
National Pipeline Advisory Group (NPAG) Releases Official Report
Author: Jaclyn Veno, CPA This article originally appeared in the Fall 2024 issue of the South Carolina CPA Report The AICPA’s National Pipeline Advisory Group (NPAG) initially began work [...]
Genuine Learning Blog: GASB Subsequent Events – Exposure Draft
📢 GASB Exposure Draft on Subsequent Events: Public Comments Welcome! 📢 The Governmental Accounting Standards Board (GASB) has released a new Exposure Draft on Subsequent Events, aiming to enhance [...]
Genuine Learning Blog: 2023-2024 Review of the Private Company Council
In December 2024, the Financial Accounting Foundation (FAF) released its 2023-2024 Review of the Private Company Council (PCC). The purpose of this report is to review the [...]
Genuine Learning Blog: Stages Out, Simplicity In: Proposed Updates to Accounting for Internal-Use Software
Stages Out, Simplicity In: FASB's New Proposal on Internal-Use Software Accounting! With the rise of agile development and modern technology, it’s time to ditch the old stage-based [...]
Genuine Learning Blog: GASB Implementation Guidance Update 2025 – Exposure Draft
The GASB recently released an exposure draft for the 2025 Implementation Guidance Update. This guidance includes Q&As that address inquiries about previously issued statements and to help [...]
Genuine Learning Blog: 2024 Year in Review
The number of issued standards likely hit one of the lowest points in history! This blog will review the accounting, auditing and ethics standards issued by the [...]
Genuine Learning Blog: ASU 2024-04
Introducing our latest GLS nano training on ASU 2024-04: Induced Conversions of Convertible Debt Instruments! Learn what changes this new guidance brings! Including: 🧩 Clarity on the [...]
Genuine Learning Blog: GASB Infrastructure Assets – Preliminary Views
GASB has issued its Preliminary Views on the accounting and financial reporting for infrastructure assets and is looking for your comments on the issues. Watch this week's genuine [...]
Genuine Learning Blog: FASBs New Proposal on VIE Acquirers
Who's Really In Charge? Dive into our latest Genuine Learning Blog video where we unpack the Proposed Accounting Standards Update on Business Combinations (Topic 805) and Consolidation (Topic [...]
Genuine Learning Blog: FASB Proposes Changes to CECL For Private Companies
Earlier this month FASB issued an exposure draft titled, Financial Instruments—Credit Losses (Topic 326): Proposed Accounting Standards Update, Measurement of Credit Losses for Accounts Receivable and Contract Assets for Private Companies and [...]
Genuine Learning Blog: Proposed Standards for Accounting & Review Services
On September 23, 2024 the AICPA's Accounting & Review Services Committee proposed SSARS Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting [...]
Genuine Learning Blog: NASBA PE
🚨 Calling All Audit & Assurance Professionals! 🚨 Private equity is shaking things up in the audit world! With more PE money flowing into firms, we’re facing big questions [...]
Genuine Learning Blog: AICPA Council
The AICPA Fall Council Meeting was one for the books! This was Barry Melancon's last council meeting as the AICPA's CEO and included a celebratory [...]
Genuine Learning Blog: FASB Exposure Draft: Share-Based Consideration Payable to a Customer
The FASB has issued a proposal to clarify accounting for share based payments to customers to reduce diversity in practice. Comments are due November 14th. SCACPA is [...]
Genuine Learning Blog: 104
GASB 104 was issued in September 2024 and requires state and local governments to provide information about certain types of capital assets. Specifically lease assets reported in [...]
Genuine Learning Blog: CPA Competency Based Experience Pathway & UAA Exposure Draft
On September 12, the AICPA & NASBA issued an exposure draft on the CPA Competency-Based Experience Pathway, offering an additional pathway for CPA candidates to meet initial [...]
Genuine Learning Blog: FASB Proposed Changes to Hedge Accounting
A Blog to Keep You On the HEDGE OF YOUR SEAT!The FASB released its Exposure Draft on Hedging Accounting in September 2024, and it's a game changer! With [...]
Genuine Learning Blog: Proposed Ethics Interpretation: 529 Plans
The AICPA has proposed changes to the independence guidance for 529 plans. The original interpretations has deemed 529 plans to be direct financial interests. Due to changes [...]
Genuine Learning Blog: Financial Data Transparency Act Joint Data Standards
The proposed joint data standards for the Financial Data Transparency Act (FDTA) were issued in August 2024. The public is invited to make comments on the proposed [...]
Genuine Learning Blog: The Risk of Access Agreements to EBP Audits
In July 2024, the Employee Benefit Plan Audit Quality Center (EBPAQC) Executive Committee issued an important letter warning auditors conducting ERISA employee benefit plan audits about the [...]
Genuine Learning Blog: NPAG Releases Data-Driven Strategies
This past July, the AICPA's National Pipeline Advisory Group (NPAG) related its Accounting Talent Strategy Report to address the accounting talent shortage. This report was based off of [...]
An Important Reminder and Exciting Legislative Update from DEW
Submitted by: SCDEW This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Employers who hire a Third-Party Administrator (TPA) to communicate [...]
Creating a Culture that Resists the Recruiter Call
Author: David R. Peters, CPA, CFP, CLU, CPCU This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Lately, I cannot go a day without [...]
Getting Started with Generative AI: Conquering Blank Page Syndrome
Author: Liz Peuster, CAE This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report The ongoing impact of generative AI cannot be understated. This technology [...]