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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

Avoid these common not-for-profit financial statement mistakes

Here are five tips that can help not-for-profits prevent some financial statement errors mistakes.

July 1, 2018

FASB proposes targeted changes to collaborative arrangements standard

Questions arose with the new revenue recognition standard.

July 1, 2018

FinREC issues 2 revenue recognition working drafts

Gaming and telecommunications are up for discussion.

July 1, 2018

FASB supersedes guidance related to Circular 202

No significant effects on current practices are expected.

July 1, 2018

Valuation of portfolio company investments addressed in AICPA working draft

A guide under development will assist with estimates.

June 29, 2018

With SEC vote, more companies qualify for scaled disclosure

The SEC voted to change the definition of “smaller reporting company” in an effort to expand the number of companies that qualify for scaled disclosure accommodations.

June 28, 2018

SEC adopts, proposes several new rules

The U.S. Securities and Exchange Commission voted to adopt and propose several new rules, including changes to the SEC’s whistleblower program and a requirement to use Inline XBRL in certain filings.

June 28, 2018

IASB seeks clarity between liabilities and equity

The proposal attempts to reduce diversity in practice on the accounting for complex instruments that have features of debt and equity.

June 26, 2018

FASB proposes update to definition of ‘collections’

The proposal would realign the definitions of “collections” used in GAAP and the American Alliance of Museums’ Code of Ethics for Museums.

June 21, 2018

FASB clarifies accounting for grants and contributions

The ASU seeks to simplify accounting for grants and similar contracts awarded by governments to not-for-profits.

June 20, 2018

FASB simplifies accounting for share-based payments to nonemployees

FASB released an Accounting Standards Update (ASU) designed to improve the financial reporting for share-based payments issued to nonemployees for goods or services.

June 1, 2018

Keeping covenants: Getting debt ratios right

A 2015 change by FASB can affect debt covenant ratios and has the potential to move companies out of compliance with their restriction thresholds.

June 1, 2018

How audit committees can evaluate lease accounting implementation

The standard starts to take effect next year.

June 1, 2018

New IFRS conceptual framework revises foundational reporting concepts

Information about performance and position is prioritized.

May 31, 2018

Inter-entity cost accounting rules amended for federal agencies

The Federal Accounting Standards Advisory Board issued amended accounting rules for recognition of inter-entity costs by federal agencies.

May 21, 2018

GASB issues implementation guidance

New implementation guidance issued by the GASB is designed to clarify, explain or elaborate on state and local government accounting standards.

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