Accounting Standards Codification

A&A

ASU No. 2013-07 Establishes Liquidation Accounting Principle in US GAAP

The FASB amended US GAAP to explain how businesses and other organizations should prepare financial statements when they're ceasing operations and selling assets to settle debts with creditors.
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A&A

GASB Offers Governmental Accounting Research System Online Platform

The Governmental Accounting Standards Board (GASB) has launched a new Governmental Accounting Research SystemT (GARS) platform – GARS Online. Previously, GARS was available only on CD-ROM.
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A&A

FAF Releases Updated Print Edition of FASB Accounting Standards Codification

On March 11, the Financial Accounting Foundation (FAF) released its latest version of the print edition of the Financial Accounting Standard Board's (FASB) "Accounting Standards Codification."
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A&A

FASB Issues ASU 'Technical Corrections and Improvements'

The FASB has issued amendments to the FASB Accounting Standards Codification® based on feedback from stakeholders. The amendments, issued as ASU No. 2012-04, are the product of a standing FASB project.
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Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.
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Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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