Financial Reporting


 


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FINANCIAL REPORTING

Following the World Trade Center's destruction, airlines, hotels, insurers and other financial services companies wrestle with financial reporting issues related to the disaster. In response, FASB's emerging issues task force takes tentative positions on when financial statements should classify as extraordinary certain losses or other costs related to the incident, when to recognize such losses or costs and whether financial statements should provide additional information about the attack's economic consequences. (www.fasb.org/eitf/issue01-10.pdf)

The Financial Executives International and the National Investor Relations Institute together issue best practices to help companies comply with SEC Regulation FD, which requires them to share earnings guidance and other material information equally with all market participants. For example, according to one recommendation, a company should offer as much guidance in its quarterly news releases as it is comfortable providing. (www.niri.org/publications/alerts/EA091001.cfm)

SPONSORED REPORT

2018 financial reporting survey: Challenges and trends

Learn the top reporting challenges that emerged in a survey of more than 800 finance, accounting, and compliance professionals across the world, and compare them with your organization's obstacles.

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How the skill set for today’s CFO is changing

Scott Simmons, a search expert for large-company CFOs, gives advice for the next generation of finance leaders and more, including which universities are regularly producing future CEOs and CFOs.