A bit mystified by EXtensible Business Reporting Language, aka XBRL? Then you’re in the right place, because Embarkers Adam Olsen, Zac Smith, and Sarah Keiffer just took a deep dive into all things XBRL, discussing the who, what, where, when, and why behind this curious but impactful little reporting acronym. So come along for the ride, shall you?!

For more information on XBRL and related topics:

XBRL: The Business Reporting Standard

XBRL US Center for Data Quality

Public Company Financial Reporting & Disclosure Requirements

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Join hosts Adam Olsen and Nicole Harger for this week’s AM Now where they discuss:

• NASBA changing its Uniform Accountancy Act Model Rules, increasing the time a CPA candidate has to complete the exam after passing the first section from 18 months to 30 months
• A recent PCAOB report discussing the importance of a more skeptical eye when auditing a company’s financials
• As ubiquitous and successful as ChatGPT has been recently, the technology averaged a mere 47% on accounting exams according to a recent study

For more information on these topics:

NASBA Announces Historic Rule Amendment Following Record Exposure Draft Response

PCAOB – Professional Competence and Skepticism Are Essential to Quality Audits

The ChatGPT Artificial Intelligence Chatbot: How Well Does It Answer Accounting Assessment Questions?

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This week in AM Now, Embarkers Adam Olsen and Matt Fisser discuss what’s happening on the accounting and finance front, including:

• The PCAOB’s ongoing concerns over audit quality and how they’ll address them in their 2023 inspection plans.
• The SEC just reopened the comment period for its proposed amendments to the definition of “exchange” under the Exchange Act in light of crypto assets and DeFi systems

For more information on these topics:

2023 Inspections to Prioritize Audit Risks Related to Fraud, the Financial Services Sector, Crypto

Crypto Accounting: Decrypting Digital Assets for CFOs and CAOs

SEC Reopens Comment Period for Proposed Amendments to Exchange Act Rule 3b-16 and Provides Supplemental Information

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In the latest episode of your favorite accounting podcast, Accounting Matters hosts Adam Olsen and Zac Smith dissect the SEC’s final rule on pay vs. performance. Executive comp is a hot button issue sitting under a hot spotlight – and that’s an awful lot of hotness. So pull up a seat, registrants, because this is an important one you’re going to want to take notes on.

For more information on pay vs. performance and related topics:

SEC Adopts Pay Versus Performance Disclosure Rules

How to Choose the Right Stock Comp Accounting Software

Best Practices for Choosing & Maintaining a Stock Comp Plan

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Join Embarkers Adam Olsen and Nicole Harger for this week’s AM Now, where they discuss what’s going on in the world of accounting and finance, including:

• The FASB’s proposed ASU on joint venture formations
• Update on potential recognition and measurement models on accounting for software costs
• ISSB transition relief for IFRS S1, the general requirement disclosure for sustainability-related financial information

Thirsty for more knowledge? Then check out these other resources on related topics: 

ASC 805, Business Combinations

Executive Clawbacks: How the SEC Ruling Impacts Compensation

Accounting for Shiny New Software, Cloud, and Website Tech Costs

Exposure Draft – IFRS S1

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In this week’s AM Now, Embarkers Adam Olsen and Matt Fisser discuss what’s going on in the world of accounting and finance, including:

• ASU 2023-02, Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method
• Updates on FASB projects – the conceptual framework (reporting entity), income statement expense disaggregation, and credit losses for acquired financial assets
• COSO guidance on effective internal controls over sustainability reporting (ICSR)

But why stop there? Check out some additional resources on these and other related topics:

ASU 2023-02, Investments—Equity Method and Joint Ventures

CECL – Private Companies, It’s Your Turn Now

Preparing for the Current Expected Credit Loss (CECL) Model

COSO – Achieving Effective Internal Control Over Sustainability Reporting (ICSR)

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In this week’s episode of Accounting Matters, Embarkers Adam Olsen, Zac Smith, and Nicole Harger discuss a topic that’s been on a lot of CFOs’ minds lately – ASC 326, better known as CECL. This time, it’s private companies stepping into the batter’s box, and our   resident GAAP gurus are here to provide all of the juicy details. So join in, won’t you?!

For more information on CECL and related topics:

Preparing for the Current Expected Credit Loss (CECL) Model

ASU 2022-02: Financial Instruments, Credit Losses

ASC 326, Financial Instruments—Credit Losses

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Join us for the latest episode of AM Now, where hosts Adam Olsen and Nicole Harger discuss:

• Hot off the presses – ASU 2023-01, Common Control Lease Arrangements
• Update on the FASB’s fast-moving crypto asset project and proposed disclosures
• The IASB exposure draft on accounting for financial instruments under IFRS 7
• The SEC’s proposed modernization of forms, filings, and materials submissions
• Texas’s bill that would allow CPA candidates to sit for the exam with 120 only hours

Hungry for more knowledge? Then check out these related resources:

ASU 2023-1, Common Control Arrangements

Crypto Accounting: Decrypting Digital Assets for CFOs and CAOs

IFRS 7 Financial Instruments: Disclosures

Texas Close to Allowing CPA Candidates to Test with 120 Credits

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In this week’s AM Now, Embarkers Adam Olsen and Matt Fisser tackle::

• The FASB’s proposed enhancements to income tax disclosures
• The SEC’s recently proposed three rules related to cybersecurity and data breaches
• The IASB accelerating standards on disclosures concerning supply chain finance programs
• Key considerations for companies as they transition from audit season to proxy season

For more information on these and related topics:

FASB Project Update: Improvements to Income Tax Disclosures

Statement on Amendments to Regulation S-P, Cybersecurity Risk Management, and Amendments to Regulation SCI

Buy Now, Pay Later: Rise of the Supplier Finance Program

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In this episode of Accounting Matters, Embarkers Adam Olsen and Zac Smith zoom in on sustainability-linked debt, how it works, why it exists, and the potential complications it might cause for accounting teams. So pull up a chair and have a listen!

For more information on sustainability and ESG-related topics:

ESG Reporting Best Practices: Implementation & Beyond

Effective ESG Leadership: A Competitive Advantage That’s Tough to Beat

Why ESG Is So Important to Your Organization's Future

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