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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

Michael Fehrman, CPA

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

FinREC unveils another set of revenue recognition working drafts

The committee seeks feedback on guidance for 4 industries.

September 1, 2017

FASB issues proposal for consolidation of VIEs

The objective is to reduce cost and complexity.

August 28, 2017

New FASB standard aims to simplify hedge accounting

Accounting rules for hedging are designed to be better aligned with a company’s risk management activities under a new standard issued by FASB.

August 23, 2017

SEC conforms staff guidance to new FASB revenue recognition rules

The SEC has issued a staff accounting bulletin to bring its existing guidance into conformity with FASB’s new revenue recognition standard.

August 3, 2017

FASB proposes changes to grant and contribution accounting

New rules proposed by FASB are designed to make it easier for organizations to decide if a transaction should be accounted for as a contribution or exchange.

August 3, 2017

Why lease accounting laggards face serious risks

Here’s what organizations need to consider as they implement the new FASB rules—and why it’s smart to start that work promptly.

August 1, 2017

AICPA issues working drafts for 3 revenue recognition issues

The AICPA is seeking comment on issues to be included in its guide for implementation of FASB’s new revenue recognition standard.

August 1, 2017

FinREC issues a dozen revenue recognition working drafts

Asset management, gaming, and software are among the industries addressed.

August 1, 2017

Hedging may get easier under new FASB accounting standard

Investors said accounting rules made hedge accounting less understandable.

August 1, 2017

FASB issues maintenance update for Accounting Standards Codification

Topic 952, Franchisors, is the first to be simplified in structure.

August 1, 2017

IASB addresses uncertainty in accounting for income taxes

IFRIC 23 adds to the requirements of IAS 12.

August 1, 2017

Mandy Nelson, CPA

Mandy Nelson, CPA, a partner in KPMG’s Department of Professional Practice, says training professionals to understand and apply standards requires a careful analysis of how much time should be devoted to each of the most challenging topics.