Testing for FAR next January? ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, an amendment to Topic 715, will be testable on the exam.
Displaying: Continuing Education
New auditing rule requiring accounting firms to file Form AP testable April 1
PCAOB No. 2015-008, a new auditing rule designed to improve transparency regarding both the engagement partner and “other accounting firms” that may have taken part in the audit of issuers, will be testable this April 1.
Gains and losses from derecognition of nonfinancial assets testable January 2018
The FASB recently issued ASU No. 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. This content will become testable on the CPA exam in January 2018.
FASB update clarifies definition of a business
On Jan. 5, the Financial Accounting Standards Board (FASB) issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The definition of a business impacts many areas of accounting, such as acquisitions, disposals, consolidations, and goodwill. This ASU affects all reporting organizations that must determine whether they have acquired or sold […]
FASB announces ASU 2016-14 – NFP Standards will be testable January 2018
The FASB issued Accounting Standard Update 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The update was designed to improve existing standards, and is eligible to be tested on the CPA Exam in January 2018.
FASB releases Standards Update on Statement of Cash Flows
On August 26, 2016, the FASB issued Accounting Standard Update 2016-15, Statement of Cash Flows (Topic 230).
FASB releases Standards Update on Financial Instrument Credit Losses, testable January 2020
The Financial Accounting Standards Board (FASB) issued a Standards Update on Financial Instrument Credit Losses. This update will be testable on the CPA Exam beginning in January 2020.
FASB issues update on Contract Performance Obligations and Licensing Testable January 2018
On April 14, 2016, the Financial Accounting Standards Board (FASB) released Accounting Standards Update No. 2016-10, Revenue from Contracts with Customers Topic 606.
FASB releases New Lease Accounting Standard ASU No. 2016-02, Leases
The FASB (Financial Accounting Standards Board) issued Accounting Standards Update No. 2016-02, Leases (Topic 842).