- The US Office of Management and Budget recently issued comprehensive grant reform rules, read about the changes and how to comply.
- The Financial Accounting Standards Board recently issued two Accounting Standard Updates that provide private companies with accounting alternatives for the subsequent measurement of goodwill and the accounting for certain interest rate swaps. What should businesses consider before adopting these provisions?
- Baker Tilly specialists discuss key changes to grant administrative requirements, cost circulars, and audit requirements affecting federally-funded organizations.
- The 2013 Fall NAIC meeting concluded on December 18, 2013 in Washington, DC. A number of substantive and non-substantive agenda items, including various committee meeting summaries were addressed. Key technical accounting updates were discussed during the Statutory Accounting Principles Working Group and the Emerging Accounting Issues Working Group.
- On December 18, the Financial Accounting Standards Board (FASB) continued deliberations and tentatively decided to require all Not-For-Profit (NFP) entities to report expenses by functional and natural classification within their financial statements. Currently, all NFPs are required to report expenses by functional classification, but not by nature (salaries, benefits, repairs, etc.).
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