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October 3, 2017

FASB proposes various minor changes to codification

Nine potential amendments are contained in the proposal, which would affect a wide variety of topics in the codification.

October 2, 2017

Federal agencies get new guidance related to PP&E opening balances

Federal agencies received new guidance for applying alternative methods in establishing opening balances for general property, plant and equipment.

October 2, 2017

20 revenue recognition working drafts issued by FinREC

The AICPA Financial Reporting Executive Committee issued 20 working drafts on issues related to implementation of the new revenue recognition standard.

October 1, 2017

FASB tackles grant and contribution accounting

Discerning between contributions and exchange transactions is a key aspect of the proposal.

October 1, 2017

AICPA issues working drafts for 3 revenue recognition issues

Informal comments will be accepted by email.

September 28, 2017

How revenue recognition changes are affecting preparers like GE, Microsoft

Financial statements show some of the changes resulting from the new revenue recognition standard in various industries.

September 27, 2017

FASB proposes technical corrections to 2 standards

FASB proposed clarifications to separate standards issued in 2016 on accounting for financial instruments and lease accounting.

September 25, 2017

FASB proposes clarifying land easements guidance in leases standard

FASB issued a proposal that would clarify how its new leases standard should be applied to land easements.

September 25, 2017

FASAB establishes concepts for federal agencies’ financial reporting

The Federal Accounting Standards Advisory Board issued a new statement that establishes foundational concepts for federal agencies’ financial reporting.

September 21, 2017

What’s next for FASB

FASB voted to work on developing accounting rules to address areas of distinguishing liabilities and equity, financial performance reporting, and segment reporting.

September 20, 2017

FASB proposes reorganizing consolidation guidance

Amid concerns that financial reporting guidance for consolidation is difficult to understand and navigate, FASB proposed a reorganization of the rules.

September 14, 2017

Proposed omnibus SSARS addresses international reporting issues

A proposed omnibus SSARS proposes new requirements and guidance that address international reporting issues for compilations and reviews.

September 12, 2017

IASB proposes changes around accounting policies and estimates

An IASB exposure draft seeks to clarify the distinction between accounting estimates and accounting policies.

September 5, 2017

FASB releases proposed 2018 reporting taxonomies

The proposed 2018 GAAP Financial Reporting Taxonomy and the proposed 2018 Shared Reporting Taxonomy were released for public comment by FASB.

September 1, 2017

Proposal would revise standards for recognition of federal agency inter-entity costs

FASAB’s proposed rules would revise current standards for federal agencies to provide for recognition of inter-entity costs by business-type activities.

September 1, 2017

Private company accounting following a new path

FASB standard provides relief for private companies facing challenges completing hedge documentation in a timely manner.

September 1, 2017

7 industries included in new revenue recognition guide exposure

Revenue recognition issues related to seven industries were exposed for public comment by the AICPA FinREC.

September 1, 2017

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.

September 1, 2017