GAAP Update Service

GAAP Update Service is now available on the iPad!

Twice each month, the GAAP Update Service keeps CPAs on top of critical FASB, AICPA, and EITF pronouncements. Each issue provides reliable analyses of need-to-know, recently issued pronouncements, including FASB Topics, Accounting Standards Updates, and EITF Issues.

Each issue is packed with timely information you can put to work right away. Here is some sample coverage that you may have missed:

Proposed Accounting Standards Update (ASU), Statement of Cash Flows (Topic 230): Not-for-Profit Entities: Classification of the Sale of Donated Securities in the Statement of Cash Flows

EITF Consenus-for-Exposure Positions on Issue No. 12A: Not-for-Profit Entities: Classification of the Sale of Donated Securities in the Statement of Cash Flows; Issue No. 12C: Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution; and Issue No. 12E: Accounting for Fair Value Information That Arises after the Measurement Date and Its Inclusion in the Impairment Analysis of Unamortized Film Costs
FAF Report: Post-Implementation Review Report on FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes, and the FASB’s Response

FASB Webcast: 2012 Chairman’s Outlook on the FASB with Leslie F. Seidman

Accounting Standards Update (ASU) 2011-10, Property, Plant, and Equipment (Topic 360): Derecognition of in Substance Real Estate—a Scope Clarification

This Update Service can be used in conjunction with the GAAP Guide Volume I and GAAP Guide Volume II.

About the Author:
Judith Weiss, CPA, has been attending EITF meetings regularly since 1991. She was a technical manager in the AICPA Accounting Standards Division and a senior manager in the national offices of Deloitte & Touche LLP and Grant Thornton LLP. Ms. Weiss is also one of the authors of the GAAP Guide.