Financial Reporting


The AICPA, the Financial Accounting Foundation (FAF) and the National Association of State Boards of Accountancy (NASBA) on Feb. 26 announced the members of the new blue-ribbon panel on U.S. accounting standards for private companies.

 

The 18-member panel includes lenders, investors and business owners as well as preparers and auditors. The panel is expected to issue recommendations to the FAF Board of Trustees in about a year after reviewing issues affecting the current system of standard setting for private companies in the U.S.

 

Rick Anderson will lead the panel. Anderson is chairman of Moss Adams LLP and is a FAF trustee. The other panel members are:

 

  • Billy Atkinson, board chair, NASBA
  • Daryl Buck, senior vice president and CFO, Reasor’s Holding Co. Inc.
  • Steve Feilmeier, CFO, Koch Industries
  • Hubert Glover, co-founder and president, REDE Inc.
  • David Hirschmann, president and CEO, Center for Capital Markets Competitiveness, U.S. Chamber of Commerce
  • William Knese, vice president, finance and administration, Angus Industries
  • Kewsong Lee, managing director, Warburg Pincus
  • Paul Limbert, CEO, WesBanco Inc.
  • Krista McMasters, CEO, Clifton Gunderson
  • Barry Melancon, president and CEO, AICPA
  • Jason Mendelson, co-founder, Foundry Group
  • Michael Menzies, CEO, Easton Bank and Trust Co.
  • David Morgan, partner, Lattimore, Black, Morgan and Cain PC
  • Terri Polley, president, FAF
  • Dev Strischek, senior vice president, Corporate Risk Management, Sun- Trust Banks Inc.
  • Mark Vonnahme, executive vice president, surety, Arch Insurance Group
  • Teri Yohn, associate professor, Indiana University

 

Representatives of the U.S. Federal Financial Institution Regulatory Agencies Group and the U.S. Small Business Administration, among other organizations, will serve as participating observers.

 

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