FASB Completes Conceptual Framework, But Differences with IASB Remain
Scott Ehrlich spoke with the CPA Journal on whether the FASB’s newly finalized Concepts Statements will change the way practitioners will apply U.S. GAAP.
Read more
Plan for New Accounting Rules on Software Cost
Shortly, the FASB will be proposing sweeping new rules around the accounting for software development costs. The Wall Street Journal asked Scott Ehrlich, President of Mind the GAAP, to share his perspectives on the FASB recommendations.
The Future of the Private Company Council (PCC)
The FASB Trustees have asked for feedback on the Private Company Council, or PCC. In this Thompson Reuters article, Scott Ehrlich of Mind the GAAP shares his thoughts on both PCC successes and areas for potential improvement.
A Reprieve from Big Accounting Standards?
In this Thompson Reuters article, Scott Ehrlich, President of Mind the GAAP, shares his views on whether 2024 will bring relief to weary accountants, who have spent the past few years adopting major standards on revenue, leases, and credit losses.
New Disclosures of Supplier Finance Program Obligations
In this article published by Thompson Reuters, Scott Ehrlich of Mind the GAAP shares his thoughts on the new FASB standard that requires disclosures around a company’s use of supplier finance programs.
Mind the GAAP and Wipfli Issue Joint Comment Letter on Accounting for Government Assistance
The FASB is exploring adding specific guidance on accounting for government grants into US GAAP, leveraging IAS 20. While IAS 20 has “stood the test of time”, Mind the GAAP and Wipfli believe that there may be some unintended consequences if it were to be fully incorporated into GAAP, especially for not-for-profits and any entity that receives below-market interest rate loans from a government agency.