IASB, GASB address interbank-offered rate phaseout
The IASB and GASB acted to help financial statement preparers with the phaseout of interbank-offered rates that are used as interest rate benchmarks.
Financial reporting
AICPA seeks guidance on adjustments for conversions from S corp. to C corp.
In comments submitted to the IRS, the AICPA requested expeditious guidance concerning adjustments attributable to conversions from an S corporation to a C corporation.
SEC addresses IPOs, ETFs, and retail investor protections
The SEC issued new rules for testing the waters on IPOs and modernizing regulation of ETFs. It also proposed amendments to enhance protections for investors.
Hidden in plain sight: Accounting for embedded leases
Locating and reporting on lease arrangements hidden in contracts that are not labeled as leases can be a challenge under FASB’s new rules.
7 tips for adopting integrated reporting
As more companies latch on to the importance of long-term value creation, the International Integrated Reporting Council is offering them advice for producing integrated reports.
FASB makes a second effort to improve balance sheet debt classification
FASB issued a reproposal that is designed to improve guidance used to determine whether debt should be classified as a current or noncurrent liability on a classified balance sheet.
FASB proposes guidance to ease transition to new benchmark rates
A proposed Accounting Standards Update would establish temporary guidance designed to reduce the accounting burdens associated with the shift from LIBOR and other interbank-offered interest rates to new reference rates.
Tips for effective not-for-profit governance
A not-for-profit’s survival depends on high-quality oversight from its board. In this episode, learn how using the right governance strategy can help your not-for-profit thrive.
FASB proposes delays for certain preparers
Effective dates of 4 major standards would be affected.
Convergence with international standards sought for SSARSs
In an effort to promote convergence with international standards, the AICPA Accounting and Review Services Committee (ARSC) recently proposed changes to standards for review services.
Mark Lubas, CPA
Communication and trust are the foundation for everything from leading a staff to working with external auditors, according to Mark Lubas, CPA, vice president of accounting for Red Hat.
How to make the most of FASB’s effective date delays
FASB has proposed delays in effective dates for some major accounting standards for certain financial statement preparers. Here’s how preparers can make the best use of the extra time.
FASAB clarifies cleanup cost liabilities guidance
A new interpretation of Federal Financial Accounting Standards is designed to clarify the application of cleanup cost liability standards when multiple component reporting entities are involved.
FASB proposes delay in long-term insurance standard effective date
The effective date of a new accounting standard for long-term insurance contracts would be delayed under a proposal issued FASB.
FASB proposes delays in 3 key effective dates
Private companies and certain other preparers would see delays in effective dates for accounting standards for leases, hedging, and credit losses under a proposal issued by FASB.
FinREC issues credit loss standard working drafts
Working drafts of accounting issues related to the Financial Accounting Standards Board’s new credit losses standard were issued by the AICPA Financial Reporting Executive Committee.
FASB extends GAAP alternatives to not-for-profits
The amendments took effect immediately.
Lessee accounting for governments: An in-depth look
These practical illustrations give state and local governments insight into the new requirements of GASB Statement No. 87.
Accounting standards authority receives AICPA’s highest honor
James J. Leisenring received the 2019 Gold Medal Award of Distinction, the highest honor granted by the AICPA.
FASB tackles difficult liabilities and equity topic
FASB addressed one of the most challenging areas of financial reporting with a proposal intended to help distinguish liabilities from equity.
