Investment companies are subject to distinct accounting and reporting requirements, which necessitate specialized knowledge and expertise. The American Institute of Certified Public Accountants (AICPA) established the Accounting Standards Codification (ASC) 946-20 - Investment Companies, which provides guidance on financial reporting and compliance for companies in the investment industry. In this article, we will discuss the key aspects of ASC 946-20 and explore how accounting software can simplify compliance for investment companies.
The financial services industry is subject to stringent regulatory requirements and a unique set of accounting challenges. The American Institute of Certified Public Accountants (AICPA) established the Accounting Standards Codification (ASC) 942 - Financial Services, which provides guidance on financial reporting and compliance for companies in the financial services sector. In this article, we will discuss the key aspects of ASC 942 and explore how modern accounting tools can simplify compliance for financial services firms.
The Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 340-10, previously known as Statement of Financial Accounting Standards (SFAS) No. 91, provides guidance on the accounting and reporting of prepaid expenses and other assets. As companies seek to streamline their accounting processes and maintain compliance with ASC 340-10, accounting software plays a pivotal role in simplifying these tasks. This article explores the key aspects of ASC 340-10 and how accounting software can facilitate compliance for prepaid expenses and other assets.
The nuclear energy industry faces specific accounting challenges due to the complex and long-term nature of nuclear decommissioning projects. The American Institute of Certified Public Accountants (AICPA) established the Accounting Standards Codification (ASC) 934 - Nuclear Decommissioning Costs, which provides guidance on financial reporting and compliance for the nuclear energy sector. In this article, we will discuss the key aspects of ASC 934 and explore how advanced accounting solutions can simplify compliance with nuclear decommissioning costs.
Inventory valuation is a crucial aspect of financial reporting, as it directly affects the cost of goods sold, gross profit, and net income. Accurate accounting and reporting of inventory values are essential for transparent financial reporting. In the United States, the Accounting Standards Codification (ASC) Topic 330-10 provides guidance on the accounting for inventory valuation. As businesses increasingly adopt advanced accounting solutions to streamline their financial processes, it is crucial to ensure that these tools facilitate compliance with ASC 330-10. This article will explore the key aspects of ASC 330-10 and how advanced accounting solutions can assist in mastering inventory …