The proposed 2018 GAAP Financial Reporting Taxonomy and the proposed 2018 Shared Reporting Taxonomy were released for public comment by FASB.
FASAB's proposed rules would revise current standards for federal agencies to provide for recognition of inter-entity costs by business-type activities.
FASB standard provides relief for private companies facing challenges completing hedge documentation in a timely manner.
Revenue recognition issues related to seven industries were exposed for public comment by the AICPA FinREC.
The objective is to reduce cost and complexity.
The committee seeks feedback on guidance for 4 industries.
Providing the correct answers to complex questions requires technical competence and scrupulous honesty, according to Michael Fehrman, CPA, head of the Accounting Policy and Advisory Group–Americas at Deutsche Bank.
Accounting rules for hedging are designed to be better aligned with a company’s risk management activities under a new standard issued by FASB.
The SEC has issued a staff accounting bulletin to bring its existing guidance into conformity with FASB’s new revenue recognition standard.
New rules proposed by FASB are designed to make it easier for organizations to decide if a transaction should be accounted for as a contribution or exchange.
Here’s what organizations need to consider as they implement the new FASB rules—and why it’s smart to start that work promptly.
The AICPA is seeking comment on issues to be included in its guide for implementation of FASB’s new revenue recognition standard.
IFRIC 23 adds to the requirements of IAS 12.
Investors said accounting rules made hedge accounting less understandable.
Topic 952, Franchisors, is the first to be simplified in structure.
Asset management, gaming, and software are among the industries addressed.
Mandy Nelson, CPA, a partner in KPMG’s Department of Professional Practice, says training professionals to understand and apply standards requires a careful analysis of how much time should be devoted to each of the most challenging topics.
Engagement partner expertise and firm specialization are among the factors that correlate with quality performance in a single audit.
Not-for-profits face their most significant financial reporting changes in more than 20 years as they implement FASB’s new standard.
FASB issued a new accounting standard simplifying the accounting for certain financial instruments with down round features.