Accounting & reporting news and resources

TOPICS

August 22, 2018

Proposal would withdraw inter-entity cost guidance

A new Federal Accounting Standards Advisory Board proposal is designed to eliminate inconsistencies in the board’s guidance for federal entities’ accounting for inter-entity costs.

August 21, 2018

Wright reappointed as PCC chair

Candace Wright, CPA/CFF, has been reappointed as chair of the Private Company Council (PCC), the Financial Accounting Foundation board of trustees announced.

August 20, 2018

FASB addresses credit loss standard concerns

A proposal issued by FASB would amend the transition requirements and scope of the board’s new standard for accounting for credit losses.

August 17, 2018

Quarterly earnings reports at center of debate

Some say focusing too intently on quarterly reports causes companies to neglect the long-term goals that should be more of an emphasis.

August 15, 2018

FASB changes accounting for long-duration insurance contracts

Companies that sell products such as life insurance, disability income insurance, long-term-care insurance and annuities will change their accounting under new rules issued by FASB.

August 13, 2018

FASB proposes lessor accounting amendments

Amendments proposed by FASB are intended to make implementation of the new lease accounting standard easier and less costly for lessors.

August 9, 2018

FinREC issues working drafts on credit loss accounting issues

The AICPA’s Financial Reporting Executive Committee (FinREC) has issued working drafts of accounting issues related to implementation of FASB’s new standard for accounting for credit losses.

August 6, 2018

GASB proposes new rules for reporting conduit debt obligations

Under new rules proposed by GASB, state and local governments would use a single method to report conduit debt obligations and related obligations.

August 1, 2018

FASB simplifies accounting for share-based payments

The change aligns accounting of transactions for employees and nonemployees.

August 1, 2018

SEC unveils goals for next 4 years

Draft strategic plan focuses on commission’s need to react to new investing technologies.

July 30, 2018

FASB attempts to make lease accounting implementation easier

FASB has issued targeted changes to its new lease accounting standard that are designed to make implementation easier and reduce costs for financial statement preparers.

July 19, 2018

FASB issues 16 minor amendments to lease accounting standard

FASB clarified rules and corrected application of guidance for its lease accounting standard.

July 18, 2018

SEC provides disclosure relief, considers employee stock compensation rules

The SEC raised a disclosure threshold and sought public comment on other ways to modernize its rules for employee stock compensation.

July 16, 2018

FASB issues standard devoted to minor codification improvements

FASB made clarifying changes and corrected unintended application of guidance in a standard that updates its Accounting Standards Codification.

July 12, 2018

FASB memos shed light on private company revenue recognition issues

Two FASB staff memos issued last month provide insight to private company financial statement preparers on how to overcome implementation challenges that some have encountered with the new revenue recognition standard.

July 10, 2018