What is Financial Accounting Standard 157 (FAS 157)? Financial Accounting Standard 157 (FAS 157) is the controversial Financial Accounting Standards Board (FASB) fair value accounting standard, which was introduced in 2006, on the eve of the global financial crisis, and is now known as of the Accounting Standards Code. Subject 820. Key points to remember …

What is an accounting standard? An accounting standard is a common set of principles, standards, and procedures that define the basis for financial accounting policies and practices. Key points to remember An accounting standard is a set of practices and policies used to systematize bookkeeping and other accounting functions across businesses and over time. Accounting …

What is an accounting standard? An accounting standard is a common set of principles, standards, and procedures that define the basis for financial accounting policies and practices. Key points to remember An accounting standard is a set of practices and policies used to systematize bookkeeping and other accounting functions across businesses and over time. Accounting …

By 2018, publicly traded companies will be required to comply with a new method of reporting income, and all other companies will follow in 2019. Healthcare companies, especially post-acute care providers, may feel the pain more than others, and they and their investors – should prepare as soon as possible. Under this new standard, ASC …

As mandated by regulators, Sealed Air is implementing the new standard for accounting for leases on time. The standard will come into force on January 1, 2019 for public companies and one year later for private companies. The implementation forces public companies to restate 2017 and 2018 and private companies to restate 2019. Sealed Air …

Client accounting services (CAS) are becoming an important revenue category for accounting firms of all sizes, with large firms seeing them gain a significant portion of their revenue over the past two years, according to a survey by the AICPA Private Business Practices Section. (PCPS) and CPA.com, the Institute’s marketing and technology subsidiary. The percentage …

Diane Backis leaves the Federal Courthouse on Monday, November 28, 2016 in Albany, NY (AP Photo/Mike Groll) NEW YORK – Diane Backis, former chief accounting officer of Cargill, pleaded guilty Nov. 28 to stealing at least $3.1 million from the Minneapolis-based company over a 10-year period and causing at least 25 million dollars in losses, …

In one of the region’s largest employee theft cases, a Cargill accountant at the Port of Albany admitted on Monday that she stole more than $ 3.1 million from the in 10 global agriculture giant years. Diane L. Backis, 50, of Athens, caused losses of at least $ 25 million to Cargill, the largest private …

A new accounting standard that prohibits accelerating revenue recognition will hurt Rolls-Royce Holdings PLC’s short-term results, the aircraft engine manufacturer’s chief financial officer said in a presentation on Wednesday. IFRS 15 will initially “have a negative impact on our reporting,” said CFO David Smith. However, the “net present value” of the business will not change, …

Accounting professionals are now in a position they have long wanted. With the disappearance of a lot of manual processes that were previously performed using desktop software, being online is creating a lot of efficiencies where accounting professionals can start moving away. daily figures for the consultancy services that they and their clients have been. …

Thanks to a trip to the Tax Court, Alex Kopaigora will be able to keep his deductions for MBA expenses for the year 2011, for the most part. Mr. Kopaigora began working for Marriott International Corporation in 2002 and has progressed to a position of significant responsibility. In June 2006 the petitioner accepted a position …

“You can delay, but time won’t, and lost time is never regained.” -Benjamin Franklin We’re guessing accountants and compliance managers feel the same way old Ben did about the time that 60.5% of organizations apparently lose by being “somewhat or not too prepared” for the new accounting standards. leases – not to mention the roughly …

DELOITTE has become the latest Big Four company to tap into the start-up and SME space, launching its £2.5m investment Propel, a cloud-based accounting and analytics service to the market . Deloitte’s new offering is a comprehensive bookkeeping and accounting service on a monthly subscription model, presenting the UK’s 5.4 million small business owners with …

Sam’s Club, the membership warehouse club owned by Wal-Mart, partners with a New York-based accounting firm known as 1-800Accountant to offer accounting and tax services accessible via mobile devices such as smartphones and tablets. The service will be available at SamsClub.com/services, starting at $29 per month. 1-800Accountant provides services such as tax preparation, tax advice, …

Successful business management requires an eye to the future and a willingness to implement change with thoughtful planning. Adding bookkeeping and accounting services can increase business revenue and provide your clients with more options to run their business with a higher level of satisfaction. Leave it to the pros First, there is a paradigm that …

Successful business management requires an eye to the future and a willingness to implement change with thoughtful planning. Adding bookkeeping and accounting services can increase business revenue and give your customers more options to run their business with a higher level of satisfaction. Leave it to the pros First, there is a paradigm that must …

Ideal position for a current accounting manager ready to take the next step! A New Jersey minor league team is currently looking to fill the controller position. The controller will oversee the accounting department and report to the property and general manager of the team. The Controller is responsible for safeguarding company assets, as well …

BELLEVUE, Wash.–(BUSINESS WIRE)–Cindy Doyle was recently promoted to Senior Manager responsible for the Financial and Accounting Services Group of Clark Nuber, a division of the company that provides services to small and medium-sized businesses in the form of temporary and permanent accounting services, support to start-ups and emerging businesses, internal control reviews, compliance testing, agreed-upon …