On March 17, 2016, the FASB (Financial Accounting Standards Board) issued Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606).
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What CPA candidates should expect at Prometric Testing Center
Knowing and understanding the process at the testing center may not remove the exam jitters but it will help to reduce the stress level a bit.
FASB releases New Lease Accounting Standard ASU No. 2016-02, Leases
The FASB (Financial Accounting Standards Board) issued Accounting Standards Update No. 2016-02, Leases (Topic 842).
Upcoming changes to FAR section of CPA Exam
Surgent CPA Review has summarized the Financial Accounting and Reporting standards that will become testable in Q2 2016.
Transitioning to new Revenue Recognition Standards
In a recent poll, many companies said they have not yet attempted to quantify the financial statement impact of the new revenue recognition standard.
New Lease Accounting Standard IFRS 16 testable on CPA Exam October 2019
On January 13, 2016, the International Accounting Standards Board (IASB) issued International Financial Reporting Standard (IFRS) 16, Leases. This will be testable on the CPA Exam beginning in October 2019.
FASB releases ASU 2016-01, Financial Instruments – Overall
The FASB issued Accounting Standards Update (ASU) 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, affecting public and private companies, not-for-profit organizations, and employee benefit plans that hold financial assets or owe financial liabilities. The ASU will take effect for public companies for fiscal years beginning after Dec 2017, and will be testable on the CPA exam beginning in Jan 2018.
Exploring the wage gap and retirement
Women should probably start sooner and save more for retirement than men, given that the average woman is expected to live five years longer than the average man.
Content integration on CPA Exam
AICPA Board of Examiners has identified the need to test higher-order skills like critical thinking, problem solving, analytical ability, and professional skepticism.