PICPA Boards and Blogs

By Donna M. Massanova, CPA The Financial Accounting Standards Board’s (FASB’s) Staff Position (FSP) AAGINV-1 and SOP 94-4-1, which is effective for periods ending after Dec. 15, 2006, significantly changed the reporting of certain guaranteed investment contracts in the financial statements of defined contribution pension and health and welfare ...

By Jay J. Jacobs, CPA A long-awaited overhaul of accounting for business combinations and consolidations was recently completed by the Financial Accounting Standards Board (FASB). FASB issued a revised FAS 141, Business Combinations (FAS 141R) and the new FAS 160, Noncontrolling Interests in Consolidated Financial Statements, which is an ...