A new Accounting Standards Update (ASU) aims to better align hedge accounting with an organization's risk management strategies.
The ASU, issued Monday by FASB, expands the current single-layer hedging model to allow multiple-layer hedges of a single closed portfolio of prepayable financial assets or one or more beneficial interests secured by a portfolio of prepayable financial instruments under the method.
Art of Accounting: Teaching context to staff | Accounting Today
While these ranges and illustrations are suggestions, they should not supplant the judgment or curiosity a staff person in the field should exercise. Context matters.
LeaseQuery Named Leading Lease Accounting Software in the G2 Spring Grid Report | Business Wire
The overall satisfaction score from users ranked nearly 25% higher than competitors. LeaseQuery also scored highest amongst the leaders in the following categories:
LeaseQuery has the fastest implementation time compared to the other leaders in the space, as well as the quickest monthly ROI.
After accounting problems, Plug Power fires KPMG
Plug Power CEO Andy Marsh speaks to guests during a groundbreaking with Gov. Kathy Hochul for Plug Power's new 350,000 square foot manufacturing site on Tuesday, March 8, 2022, at Vista Technology Campus in Slingerlands, N.Y.
COLONIE - Roughly a year after disclosing that it had made unintentional errors on its financial filings with federal regulators over a period of several years, fuel cell maker Plug Power has fired its accounting firm KPMG.
Exploring the Variety of Career Opportunities Offered by the Accounting Profession - The CPA Journal
Even better, accountants can pursue opportunities in every sector of the economy. Everyone needs accountants, from global Fortune 500 companies to the local dry cleaners.
The accounting profession plays an important role in the broader economy.
FASB expands hedge accounting standard to allow multiple layers | Accounting Today
The update builds on the hedging standard that FASB released in 2017 that also tried to better align the economic results of risk management activities with hedge accounting.
One of the major provisions of the hedging standard was the addition of the last-of-layer hedging method.
Ex-MiMedx CFO can't escape SEC lawsuit over accounting practices | Reuters
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(Reuters) - The former chief financial officer of biotech company MiMedx Group Inc has lost a bid to dismiss civil claims by the U.S. Securities and Exchange Commission accusing him of defrauding investors by helping to falsify the company's books.
The SEC's claims against Senken largely stemmed from an agreement in which MiMedx allowed one of its distributors, which sold its tissue graft products to the Department of Veterans Affairs, to receive the products before being reimbursed by the VA and then paying MiMedx.
Accounting industry sees shortfall in 'techXpertise', says IFA survey
In a recent survey, the IFA asked accountants aged 41 and under about the changing role of the profession in order to learn about the challenges presented by new technologies and to identify any skills and training gaps.
Automation of accounting tasks by artificial intelligence (AI), and the increased use of cloud-based accounting tools by clients, were the technologies that were recognised as potentially having the most significant impact on the future of accounting.
Surgent Accounting & Financial Education Releases "Surging Auditors", Second Series ...
"Surging Auditors" courses require learners to demonstrate their knowledge of inventory procedures and ability to use professional skepticism to accurately audit a company.
"Surging Auditors" is a series of courses where learners encounter real-world situations that test their knowledge of inventory procedures and their ability to apply professional skepticism and make ethical decisions to accurately audit companies.
Wolters Kluwer Tax & Accounting adds the 2022 Artificial Intelligence Excellence Award its ...
Cloud-based, end-to-end trial balance solution uses Artificial Intelligence and Machine Learning to drive firm efficiency by eliminating the manual process of grouping accounts when ingesting trial balances
"We are thrilled to see the Business Intelligence Group recognize this innovative expert solution with their prestigious inaugural awards program," said Colleen Knuff, Vice President of Audit Product Management at Wolters Kluwer Tax and Accounting North America.
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