As part of its Attestation Clarity Project, the Auditing Standards Board (ASB) has issued Statement on Auditing Standards (SAS) No. 130 - including several key changes.
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CPA Exam 2017 and Bloom’s Taxonomy
What is the new, overhauled CPA exam going to look like in 2017? If you read the AICPA’s exposure draft, you’ll learn that the AICPA wants to follow what academicians follow: Bloom’s Taxonomy, which is a sort of “stair step” in the learning process.
ASU 2015-17 Income Taxes Update will be testable on CPA Exam in January 2017
The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) 2015-17, Income Taxes (Topic 740). This will be testable on the CPA Exam beginning in January 2017.
CPA Exam policy on new pronouncements
The AICPA’s Board of Examiners (BOE) recently concluded that the existing Policy on New Pronouncements was no longer aligned with the needs of the CPA Exam. Learn how this conclusion directly impacts the exam.
FASB votes to move forward with final standard on leases
The FASB voted to proceed with an accounting standard that requires companies to include lease obligations on their balance sheets. The next step is a "ballot draft."
Report: 2015 audit considerations released by Center for Audit Quality
The Journal of Accountancy (JOA) has reported that the Center for Audit Quality recently released risk alert Select Auditing Considerations for the 2015 Audit Cycle.
ASU No. 2015-16 Business Combination Simplification testable on CPA Exam in April 2016
FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments in September.
FASB issues new pronouncement Simplifying the Measurement of Inventory
The FASB issued ASU No. 2015-11, Inventory (Topic 330), Simplifying the Measurement of Inventory, in July as part of its Simplification Initiative.
Study: Accounting leads most profitable industries
According to a new ranking, accounting, tax preparation, bookkeeping and payroll services are collectively the most profitable industry in the nation.
Are you ready for changes to CPA Exam?
Based on information provided by the AICPA in a recent survey to stakeholders, the CPA exam is changing. Consider taking the exam now if possible.