Welcome to Mabstac, LLC | Anything Accounting
- Call us: (703) 828-2336
- Mail US : info@mabstac.com
- ADD US : Mabstac, LLC
- Call us: (703) 828-2336
- Mail US : info@mabstac.com
- ADD US : Mabstac, LLC
Big Changes to “Limited Scope” Audits
The Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) changed the audit standards applicable to audits of financial statements of employee benefit plans subject to ERISA. These standards impact what is currently known as “limited scope audits.” Now, the limited scope audit will no longer ...
GASB Statement No. 101, Compensated Absences
GASB Statement No. 101, Compensated Absences The Governmental Accounting Standards Board (GASB) released Statement No. 101, Compensated Absences (Statement 101), which replaces GASB Statement No. 16, Accounting for Compensated Absences. This Statement establishes standards of accounting and financial reporting for (a) compensated absences and (b) associated salary-related payments, including certain defined contribution ...
GASB Statement No. 100, Accounting Changes and Error Corrections—an amendment of GASB Statement No. 62
GASB issued guidance Monday designed to improve the accounting and financial reporting requirements for accounting changes and error corrections. GASB Statement No. 100, Accounting Changes and Error Corrections, provides guidance designed to lead to information that is easier to understand and more reliable, relevant, consistent, and comparable across governments for making ...
GASB Statement No. 96, Subscription-Based Information Technology Arrangements
Issued by the Governmental Accounting Standards Board, GASB 96 defines Subscription-Based Information Technology Arrangements (SBITAs) and provides guidance on accounting and financial reporting for government entities. The statement was created to regulate the accounting and disclosure around subscription-based payments for cloud-based software agreements. What is GASB 96? In May of ...
GASB Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements
GASB 94 is approaching: Are P3s on your organization’s radar? Public-private partnerships and availability payment arrangements have become more common as governments find new ways to fill funding gaps. GASB 94 covers how to account for them. Here’s what you need to know. In March 2020, the Government Accounting ...
GASB Statement No. 81, Irrevocable Split-Interest Agreements
GASB issued recognition and measurement guidance Tuesday for governments that benefit from irrevocable split-interest agreements. A typical irrevocable split-interest agreement provides benefits to at least two beneficiaries—a government (often a public college, university, or hospital) and another beneficiary designated by the donor. The donor transfers the related assets either to ...
- 1
- 2
