Accounting & reporting news and resources

TOPICS

June 30, 2022

FASB issues standard to improve fair value guidance for equity securities

FASB issued an Accounting Standards Update that improves financial reporting for investors and other financial statement users.

June 29, 2022

FASB adds three new projects to technical agenda

FASB announced the addition of three new projects to its technical agenda based on feedback received during its 2021 agenda consultation project.

June 24, 2022

AICPA publishes Q&A to explain SEC guidance on cryptoassets

The AICPA has published a set of questions and answers that explains recently released SEC staff guidance regarding the accounting for entities that have obligations to safeguard cryptoassets held for their platform users.

June 16, 2022

GASB streamlines guidance on compensated absences with unified model

The GASB updates the model for compensated absences to enhance recognition and measurement requirements and simplify disclosure requirements.

June 14, 2022

Addressing continued rise in Sarbanes-Oxley Act compliance costs

An annual survey reveals higher compliance costs in 2022 and suggests that automation may present a path to better efficiency.

June 13, 2022

FASB invites stakeholders to share views on accounting for government grants

FASB is seeking feedback on whether IAS 20 represents a workable solution for improving generally accepted accounting principles for business entities as it relates to the accounting for government grants.

June 13, 2022

GASB guidance focuses on improving, clarifying standards for accounting changes

GASB issued guidance designed to improve the accounting and financial reporting requirements for accounting changes and error corrections.

June 3, 2022

SEC announces updates to electronic filing requirements

The SEC said it has adopted amendments to require the electronic filing or submission of certain documents that currently are permitted to be filed or submitted in paper format.

June 1, 2022

Goodwill triggering event alternative provides relief to some companies

Learn how FASB’s goodwill accounting alternative for evaluating triggering events can make financial reporting easier for private companies and not-for-profit entities beyond the pandemic.

May 27, 2022

FASB to explore rules on accounting for ESG credits

The FASB said last week that it will explore new rules regarding the accounting for financial instruments with ESG-linked features and regulatory credits.

May 26, 2022

SEC proposes enhanced disclosures related to ESG

The SEC proposed amendments to rules and reporting forms to promote consistent, comparable and reliable information for investors concerning funds’ and advisers’ incorporation of environmental, social and governance factors.

May 10, 2022

FASAB seeks input on proposed amendments related to leases

The FASAB proposed changes intended to clarify the application of lessee and lessor discounting requirements.

May 10, 2022

GASB addresses range of practice issues in statement

In an omnibus statement, the GASB issued guidance and clarifications on numerous accounting and financial reporting issues.

May 9, 2022

SEC extends comment period on climate-related disclosure proposal

The SEC announced an extension in the public comment period for its proposal on climate-related disclosure requirements.

May 6, 2022

Accounting for employee retention credits

Companies that received financial assistance during the pandemic have questions about which standards to apply related to accounting for the ERC.

April 28, 2022

What CPAs should know, and ask, about NFTs

An expert on digital assets, also an ENGAGE speaker, explains nonfungible tokens and addresses accounting questions related to NFTs in this podcast episode with transcript.

April 20, 2022

FASB proposal would extend time for reference rate reform relief

A proposal by the FASB would extend by two years the guidance related to reference rate reform relief and expand the definition of the Secured Overnight Financing Rate (SOFR).

April 1, 2022

Climate change: What the SEC proposal means for companies, auditors

The SEC’s recently issued climate change disclosure proposal would require companies to embrace a comprehensive, sophisticated approach to climate reporting.

March 31, 2022

FASB addresses troubled debt, vintage disclosures in CECL standard

FASB changed its credit losses standard, eliminating accounting guidance for troubled debt restructuring by creditors and enhancing disclosure requirements for vintage disclosures.

March 31, 2022

How to navigate new disclosures for government assistance

After a rush of government programs provided pandemic-related relief, the Financial Accounting Standards Board issued a standard requiring new disclosures for government assistance.

FROM THIS MONTH'S ISSUE

Want to thrive in an AI world? Power up your people skills

Learn how CPAs can strengthen their human relationships by developing their communication, curiosity, and self-awareness. Artificial intelligence can’t replicate these people skills.