Financial Reporting


The SEC proposes disclosure requirements pertaining to companies’ adoption of accounting policies that could materially affect their financial statements and to the estimates they make in applying such policies ( www.sec.gov/rules/proposed/33-8098.htm ). The commission recommends the companies explain in their annual reports and in registration and proxy information statements the events or transactions that led them to adopt the accounting policies. And if their accounting estimates require assumptions about then uncertain matters—because different projections are reasonably possible—companies also would have to explain in management’s discussion and analysis the judgments they made in formulating their estimates and any factors likely to change as a result. Comments are due July 19.

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Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

QUIZ

News quiz: Senate health care bill in the spotlight

Reports related to the Republican bill to repeal many provisions of the PPACA, other tax issues, and the giant AICPA ENGAGE Conference offered a diverse reading list for June. See how much you know about recent news with this short quiz.