- The Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2013-12, Definition of a Public Business Entity (ASU 2013-12) in December 2013. This update provides a single definition of public business entity for use in future financial accounting and reporting guidance. Distinctions about which not-for-profit entities (NFPs) would receive financial accounting and reporting alternatives within US GAAP typically have been made on the basis of whether an NFP has public debt securities, including conduit debt.
- On December 18, 2013, the Securities and Exchange Commission voted to propose rules intended to increase access to capital for smaller companies. The SEC’s proposal would build upon Regulation A, which is an existing exemption from registration for small offerings of securities up to $5 million within a 12-month period.
- In 2013, the Financial Accounting Standards Board (FASB) issued twelve Accounting Standards Updates (ASUs). There are four exposure drafts and seven final documents expected in 2014 according to the current FASB project plan. To help you review the most recent updates, links are provided below to the detailed FASB information for each of the 2013 ASUs.
- Baker Tilly provides an overview of the current US transfer pricing landscape and best practices regarding reviewing and amending transfer pricing policies and structures.
- An investment adviser with limited in-house resources to address complex audit and tax issues. The CFO and executive team needed an experienced accounting firm to assist them in these areas.
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