Financial Reporting


The International Accounting Standards Board (IASB) in February issued International Financial Reporting Standard (IFRS) 2, Share-based Payment, on accounting for such transactions, including grants of share options to employees ( www.iasb.org/news/press.asp ). Until the issuance of IFRS 2, international accounting standards did not address the recognition or measurement of options-based compensation expenses.

At press time, a spokesperson for the Financial Accounting Standards Board (FASB) said it would issue an exposure draft on this subject in late March and release final stock-based compensation guidance by the end of the year. She said FASB’s position is very similar on all key points to that of the IASB in requiring companies to use a fair-value approach to recognize the cost of employee stock options at grant date as an expense on their income statements.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.