Financial Reporting


FASB introduced a project intended to make financial statement disclosures more useful, organized and consistent, and less redundant. It will focus on developing a framework for improved GAAP disclosures.

 

The project will evaluate and address whether the disclosure framework should: apply to all entities or exclude private or nonprofit entities; apply to interim reporting; focus only on high-level principles; focus only on notes to financial statements or extend to ways to better integrate information provided in financial statements, MD&A and other parts of a company’s public reporting package.

 

FASB expects to issue a preliminary views document in the first half of 2010.

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.