Attestation Update – A&A for CPAs

Technical stuff for CPAs providing attestation services

Scott London moved from prison to half way house

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The Bureau of Prisons inmate locator shows that Scott London is currently under supervision of the Long Beach Residential Reentry Management office. His scheduled release date still shows at July 23, 2015.

I don’t know when he was released from the Lompoc United States Penitentiary. My last check on February 20 showed he was still in Lompoc. He reported to prison on July 19, 2014, so he is currently at about the nine-month point of his sentence. He has about three months until his scheduled release date.

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Written by Jim Ulvog

April 24, 2015, 9:59 am at 9:59 am

Posted in Audits, Other stuff

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Background articles on overhaul of nonprofit accounting – #1

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I’ll start listing the helpful articles providing background on the major changes to financial reporting of charities. Here’s the first articles I have seen:

Mentioned this previously:

(Cross post from my other blog, Nonprofit Update.)

Written by Jim Ulvog

April 24, 2015, 8:10 am at 8:10 am

Posted in Accounting

FASB webinar on proposed changes to financial reporting for NPOs. Free. CPE credit.

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FASB is offering a free webinar on the exposure draft to overhaul financial reporting for charities. Session will be good for 2 hours of CPE.

Webinar will be offered on May 12 at 1:30 p.m. Eastern Daylight Time.

You can register at this page.

(Cross-post from my other blog, Nonprofit Update.)

Written by Jim Ulvog

April 23, 2015, 8:55 am at 8:55 am

Posted in Accounting

Deutsche Bank ponies up $2.5B for cooking Libor; industry wide settlements approaching $9B.

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The dubious distinction of drawing the largest fine for manipulating Libor goes to Deutsche Bank. Their total tab is now $3.5B. That leaves UBS in a distant second place at $1.6B.

Check out two articles on April 22:

Deutsche Bank will pay slightly over $2.5 billion to settle up for manipulating Libor, Eurbor, and Tibor (Tokyo interbank). Several specific Directors and VPs will be fired.

A subsidiary company in Britain will plead guilty to violating American criminal laws.

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Written by Jim Ulvog

April 23, 2015, 8:33 am at 8:33 am

Posted in Other stuff

Tagged with ,

FASB releases exposure draft on overhaul of NPO financial reporting

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FASB has released the long-awaited revision to reporting by nonprofit organizations.

The FASB’s press release can be found here.

The document along with a link is: Proposed Accounting Standards Update- Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954) – Presentation of Financial Statements of Not-for-Profit Entities.

(Cross-post from my other blog, Nonprofit Update.)

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Written by Jim Ulvog

April 22, 2015, 16:46 pm at 4:46 pm

Posted in Accounting

More good stuff for auditors – 4-20

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Big 4 firms moving into legal work, how state based regulation is slowing the profession’s responsiveness to change, and tax situations when you should refer a client to an attorney.

4/13 – Journal of Accountancy – 10 situations when a CPA should call “timeout” – When a client’s situation starts getting dicey, a CPA needs to call a timeout so the client can retain legal counsel. A list of 10 situations in the article doesn’t just apply to CPAs preparing individual tax returns. Some of them apply to auditors.

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Written by Jim Ulvog

April 20, 2015, 8:24 am at 8:24 am

Posted in Audits, Other stuff

5 million views of a rap video on economics? Yeah. 5 million. On economics.

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Over 5.1M views of the first video in the series and just a few more views to cross the 3M point for the second. Check them out for entertaining, creative ways of explaining the views of Hayek and Keynes. Great contrast between the two.

 

 

Previously mentioned these videos here: Read the rest of this entry »

Written by Jim Ulvog

April 16, 2015, 7:27 am at 7:27 am

Posted in Economics

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