Costly mistakes can be avoided by following best practices that lead to proper judgments.
The debt proposal would establish a cohesive classification principle.
FASB proposes the same model for participating and nonparticipating contracts.
The changes address 13 narrow issues.
Reconciliation would be focused on net outlays.
The FASB issued a new standard that is designed to make employee benefit plan master trust disclosures more useful to users of financial statements.
FASB issued a standard clarifying the scope of its asset derecognition guidance and adding accounting guidance for partial sales of nonfinancial assets.
The PCAOB provided new information to firms on how to apply Form AP reporting requirements to professional staff in secondment arrangements.
Working drafts on revenue recognition issues for the insurance and software industries were published by the AICPA, which is seeking comments from interested parties.
SEC names Bricker chief accountant.
GAAP doesn't currently address classification and presentation for restricted cash.
FinREC also identified several concerns.
'Tier status' affinity programs are among the issues.
Accounting for share-based payments and certain financial instruments may change.
2 comment letters express concerns about inconsistencies and confusion.
Step 2 was eliminated from the goodwill impairment test as the FASB sought to simplify accounting in a new standard issued Thursday.
Engagement partners’ names will be required to be reported consistently on all Forms AP filed with the Public Company Accounting Oversight Board under new PCAOB staff guidance.
Deloitte offers five strategies to help find efficiencies and avoid unnecessary disturbances.
A new federal government accounting standard is designed to provide concise and meaningful information about insurance costs and liabilities.
The IASB issued clarifications to standards related to income taxes, borrowing costs and investments in associates and joint ventures.