FinREC has been seeking public comment on working drafts that provide industry-specific guidance for entities implementing FASB’s new revenue recognition standard.
Faithfully applying the principles of ASC Topic 280 can help financial statement preparers avoid problems in a high-risk area.
The board aims to equalize nonfinancial and financial hedging strategies.
Drillable data is not only easy to navigate, it also provides a stellar audit trail sure to make any auditor smile.
The TQA was developed to assist those seeking clarity in their public business entity status.
Clients also turn to CPAs with questions about all kinds of financial matters, particularly about their companies and accounting.
The SEC proposed amendments that are designed to simplify disclosures without sacrificing information that is important to investors.
Nine potential amendments are contained in the proposal, which would affect a wide variety of topics in the codification.
Federal agencies received new guidance for applying alternative methods in establishing opening balances for general property, plant and equipment.
The AICPA Financial Reporting Executive Committee issued 20 working drafts on issues related to implementation of the new revenue recognition standard.
Informal comments will be accepted by email.
Discerning between contributions and exchange transactions is a key aspect of the proposal.
Financial statements show some of the changes resulting from the new revenue recognition standard in various industries.
FASB proposed clarifications to separate standards issued in 2016 on accounting for financial instruments and lease accounting.
FASB issued a proposal that would clarify how its new leases standard should be applied to land easements.
The Federal Accounting Standards Advisory Board issued a new statement that establishes foundational concepts for federal agencies’ financial reporting.
FASB voted to work on developing accounting rules to address areas of distinguishing liabilities and equity, financial performance reporting, and segment reporting.
Amid concerns that financial reporting guidance for consolidation is difficult to understand and navigate, FASB proposed a reorganization of the rules.
A proposed omnibus SSARS proposes new requirements and guidance that address international reporting issues for compilations and reviews.
An IASB exposure draft seeks to clarify the distinction between accounting estimates and accounting policies.