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Audit & Accounting Updates
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A&A Update - April 2008
(A&A Update dated May 2, 2008)
Pershing Yoakley & Associates (PYA) is pleased to present the April 2008 Audit and Accounting Update. This publication is designed to timely communicate to PYA's clients and friends recent auditing and accounting trends and requirements.
Topics in the attached issue include:
Accounting
- A Review of the Fair Value Hierarchy under Statement No. 157
- Electing the Fair Value Option at the Effective Date of Statement No. 159
- Reducing Complexity in Reporting Financial Instruments
- Tentative Conclusions Reached on Three EITF Issues
Financial Institutions
- Evaluating Loan Impairment and Debt Restructuring in Today’s Economy
- Disclosure of Fair Value Measurements Related to Impaired Loans
Public Sector
- Service Efforts and Accomplishments Reporting
SEC
- Quarterly MD&A Disclosures Regarding Statement No. 157
- FASB Codification Now Includes Some SEC Content
International
- Discussion of Accounting for Post-Employment Benefits
- ISA Revises Requirements for Written Representations
Please click the following link to view the April 2008 A&A Update.
If you would like additional information or have any questions, please contact Doug Arnold or Angie Caldwell at (800) 270-9629.
The information provided via PYA Alert, Tax Planning Alert, or Audit and Accounting Alert should not be construed as accounting, auditing, consulting, or legal advice on any specific facts or circumstances. The contents are intended for general information purposes only. Please contact us at (800) 270-9629 to discuss your specific situation or to discuss any specific questions you may have.
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