The Financial Accounting Standards Board (FASB) has published an Accounting Standards Update designed to better align hedge accounting with an organization’s risk management strategies.
Accounting & reporting
The SEC proposed new rules Monday that would require certain entities, most notably principal trading firms, to register with the Commission and to comply with federal securities laws and regulatory obligations.
The AICPA Auditing Standards Board is seeking comments on a proposed Statement on Auditing Standards that seeks to strengthen the auditor’s approach to planning and performing group audits and to improve the quality of such audits.
Public companies would be required to disclose climate-related risks and financial statement metrics under a much-awaited proposal issued by the SEC.
John Samtoy, CPA, discusses Schedules K-2 and K-3 for passthrough entities and U.S. persons who are partners in foreign partnerships, and how tax professionals can help clients with them.
The Securities and Exchange Commission will meet Monday to discuss a staff proposal designed to improve and standardize companies’ climate change disclosures for investors.
Public companies would be required to provide investors with enhanced and standardized information about their cybersecurity practices under a new rule proposed Wednesday by the Securities and Exchange Commission.
The Securities and Exchange Commission voted to require certain institutional investment managers to report short sale-related information each month. The SEC then would make aggregate data about large short positions, including daily short-sale activity data, available to the public for each individual security.
Agency seeks comment on new requirements, including one that would mandate that registered fund advisers provide quarterly statements to investors.
The AICPA issued nonauthoritative information addressing how for-profit health care business entities and nongovernmental not-for-profit health care entities may consider accounting for vaccines or other pharmaceuticals, medical supplies, or equipment received free of charge for distribution to specified patients.
Blockchain — what does it mean to you? A glossary of terms offers clarity. Also, hear or read more about accounting firms’ tech-integrated future.
A reader responds to a JofA article on FASB declining to extend nonpublic lease accounting effective date.
The evaluation of whether contracts involving cryptoassets contain embedded derivatives, and borrowing, lending and mining of cryptoassets all come with complex accounting implications. This nonauthoritative guidance can steer entities in the right direction on reporting the performance of these assets more consistently in the financial statement.
GASB has decided to undertake a major project on accounting and financial reporting for going concern uncertainties and severe financial stress.
Two new FASB concept statements address financial statement elements and factors FASB should consider in developing accounting guidance.
A proposed Accounting Standards Update would help investors and others better consider the effects on a buyer’s working capital, liquidity and cash flows. The comment deadline is March 21.
FASB updated its research agenda Wednesday in response to comments received in a consultation earlier this year.
The Securities and Exchange Commission issued separate proposals Wednesday that are designed to enhance share buyback disclosures and provide protections against insider trading.
Investors want more disaggregated information. Financial statement preparers are concerned about the costs of preparing that information. FASB Chair Richard Jones is seeking to balance those priorities.
Non-GAAP measures in public company reporting continue to be scrutinized carefully by SEC staff, according to information presented at the AICPA & CIMA Conference on Current SEC and PCAOB Developments.