Accounting & reporting news and resources

TOPICS

July 30, 2019

FASB proposes clarifying interaction between 2 standards

FASB issued a proposal that would clarify the interaction between its standard on recognition and measurement of financial instruments and its standard on equity method investments.

July 17, 2019

FASB to propose delaying effective dates for 4 major standards

Effective dates for certain entities for key standards on accounting for leases, credit losses, hedging, and long-duration insurance contracts would change under a proposal FASB voted to direct its staff to draft.

July 15, 2019

Implementation insight from FASB’s vice chair

FASB vice chairman Jim Kroeker shares advice for successful implementation of accounting standards, as well as what’s on the horizon for FASB.

July 9, 2019

GASB seeks comment on several issues

GASB issued an omnibus exposure draft covering accounting and financial reporting issues identified during the implementation of previous GASB guidance.

July 9, 2019

FASB considering goodwill accounting changes

FASB issued an Invitation to Comment on whether the board should make changes to the accounting for certain identifiable intangible assets acquired in a business combination and subsequent accounting for goodwill.

July 1, 2019

Private company lease accounting delay requested

The standard took effect for public companies this year.

July 1, 2019

Polley steps down as head of FAF

High-profile standards were completed during the CEO’s tenure.

July 1, 2019

SEC addresses ICFR attestation for smaller companies

Commission also proposes changes for disclosures on acquisitions and disposals.

July 1, 2019

Q&A discusses ‘direct care’ expenses for collections

A Technical Question and Answer issued by the AICPA discusses the characteristics of expenses that would be considered “direct care of existing collections” under a new FASB standard that updates the definition of “collections.”

July 1, 2019

Lease accounting: A private company perspective

As they implement FASB’s new lease accounting rules, private companies and not-for-profits may be surprised by the complexity of the transition and the effects on the financial statements.

July 1, 2019

FASB proposes simplifying accounting for income taxes

The changes would remove various exceptions to general principles.

June 28, 2019

GASB proposes changes to Sec. 457 plan reporting

GASB proposed new guidance that would clarify the accounting and financial reporting of Internal Revenue Code Sec. 457 deferred compensation plans.

June 27, 2019

FASB proposes narrow-scope changes to credit loss standard

FASB proposed changes that are designed to address issues that have arisen for stakeholders implementing the board’s new standard for accounting for credit losses.

June 27, 2019

Get private companies ready for the new revenue standard

Private companies are entering the final stretch of their preparations to comply with FASB’s new revenue recognition standard. Here’s how auditors can help their clients with the implementation process.

June 18, 2019

New GASB guide addresses fiduciary activities

GASB issued a new implementation guide that includes questions and answers related to recently released GASB standards on accounting and financial reporting for fiduciary activities.

June 17, 2019

Revenue recognition tips for not-for-profits

Not-for-profits have their own specific concerns related to the Financial Accounting Standards Board’s new revenue recognition standard. Find out in this episode how the new standard applies to not-for-profits.

June 13, 2019

GASB proposes guidance on PPPs and APAs

The guidance is designed to improve accounting and financial reporting for public-private and public-public partnership arrangements. Comments on the proposal were requested by Sept. 13.

June 11, 2019

A refined approach to auditing accounting estimates

Auditing accounting estimates can be challenging. New auditing standards may help by encouraging deeper professional skepticism.

June 10, 2019

Tips for a smooth CECL implementation

FASB’s new current expected credit losses standard contains big implementation challenges for the financial services industry but also applies to companies in other industries.

June 1, 2019