Financial reporting

The Governmental Accounting Standards Board has released finalized guidance on accounting and financial reporting issues related to fair value measurements, primarily applying to investments made by state and local governments.

To help professionals assess their options, the AICPA will hold a March 5 webcast, Understanding the Impact of Legalized Marijuana on the CPA Profession. A panel of experts from the AICPA, as well as representative from Aon Corp., will discuss implications from an ethics, tax, auditing and attest services, and insurance standpoint.

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The American Institute of CPAs’ Auditing Standards Board has issued a new attestation standard for agreed-upon procedures engagements related to asset-backed securitizations.

KPMG has received a U.S. President's Volunteer Service Award from Junior Achievement USA (JA), achieving a 'Gold Level' status for providing over 15,000 hours of volunteer service globally for the 2013-2014 year.

The Financial Accounting Foundation’s board of trustees is reaching out for comments on how well the Private Company Council has been performing.

Barry MacQuarrie of Cloud Accounting Connects and SocialCPAs is surveying accountants about their use of cloud technology.

Stavros Thomadakis became chair of the International Ethics Standards Board for Accountants in January, leading a board under the auspices of the International Federation of Accountants that oversees a global ethics code for the accounting profession.

The American Institute of CPAs is expressing support for a proposed accounting standards update that would require investment companies that act as “feeder funds” for other investment companies to provide better disclosures of those investments on their financial statements.

The post credit crisis regulatory focus on forward-looking techniques and loan behavior models has been burdensome for some banks.

The Institute of Management Accountants has developed a new framework that accountants can use to supervise organizational changes.

The live webcast is scheduled to take place at 9:30am PT/12:30pm ET/17:30pm GMT, and is part of the Aspire to Lead: The PwC Women’s Leadership Series, which includes a number of programs and workshops designed to provide university students and new professionals with the tools to help them build lasting leadership skills.

Earlier this month, BPP Professional Education Group and KPMG’s joint ACA Intensive Programme won the PQ Magazine 2015 award for Innovation in Accountancy.

The Governmental Accounting Standards Board reminded its stakeholders Friday that the deadline is coming up on March 6 for comments on its proposed changes in standards for fiduciary responsibilities and lease accounting.

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Thomson Reuters Checkpoint released a special report on Tuesday, entitled President’s Fiscal Year 2016 Budget. The President’s budget contains a host of individual and business tax proposals. This report examines some of the budget’s highlights, including the President’s strategy to strengthen the middle class and help working families.

The Financial Accounting Standards Board has issued an accounting standards update to improve specific areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations and securitization structures.

Dr. Larzette Hale, who was the first Black American female to become a CPA in the state of Georgia and the first to earn a PhD in accounting, has died.

The Rhode Island Society of CPAs is trying to re-imagine the traditional financial statement.

The Private Company Council, a sister organization of the Financial Accounting Standards Board that represents the interests of privately held companies, has expressed major concerns about FASB’s project on the balance sheet classification of debt.