Financial Reporting


FASB introduced a project intended to make financial statement disclosures more useful, organized and consistent, and less redundant. It will focus on developing a framework for improved GAAP disclosures.

 

The project will evaluate and address whether the disclosure framework should: apply to all entities or exclude private or nonprofit entities; apply to interim reporting; focus only on high-level principles; focus only on notes to financial statements or extend to ways to better integrate information provided in financial statements, MD&A and other parts of a company’s public reporting package.

 

FASB expects to issue a preliminary views document in the first half of 2010.

SPONSORED REPORT

How the election may affect taxation of business income

This report summarizes recent proposals to reform the U.S. business income tax system and considers the path to enactment of any such legislation.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

Did you follow 2016’s biggest accounting news?

CPAs will remember 2016 as a year of new standards and new faces. How well did you follow the biggest accounting events? The 7 questions in this quiz will help you find out