New rules proposed by FASB are designed to make it easier for organizations to decide if a transaction should be accounted for as a contribution or exchange.
Here’s what organizations need to consider as they implement the new FASB rules—and why it’s smart to start that work promptly.
The AICPA is seeking comment on issues to be included in its guide for implementation of FASB’s new revenue recognition standard.
IFRIC 23 adds to the requirements of IAS 12.
Investors said accounting rules made hedge accounting less understandable.
Topic 952, Franchisors, is the first to be simplified in structure.
Asset management, gaming, and software are among the industries addressed.
Mandy Nelson, CPA, a partner in KPMG’s Department of Professional Practice, says training professionals to understand and apply standards requires a careful analysis of how much time should be devoted to each of the most challenging topics.
Engagement partner expertise and firm specialization are among the factors that correlate with quality performance in a single audit.
Not-for-profits face their most significant financial reporting changes in more than 20 years as they implement FASB’s new standard.
FASB issued a new accounting standard simplifying the accounting for certain financial instruments with down round features.
The information about debt disclosed by state and local governments would change if a new GASB proposal is approved.
FinREC is requesting feedback on four working drafts that provide industry-specific guidance for entities implementing FASB Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers (Topic 606).
As president of the International Federation of Accountants, Olivia Kirtley, CPA, CGMA, learned about issues accountants face around the world.
IFRS 17 creates a single approach for insurance contracts accounting.
he standard clarifies accounting for operating entities serving public-sector grantors.
The board issued an invitation to comment.
New guidance on modification accounting addresses diversity in practice.
The committee is updating an industry-specific guide.
A bill in Congress would raise revenue thresholds, exempting more issuers from internal control assessment requirements.