Accounting & reporting news and resources

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May 10, 2017

FASB issues update on modification accounting for share-based payment awards

FASB hopes to provide clarity by offering guidance on the scope of modification accounting for share-based payment awards.

May 2, 2017

CAQ, investor groups seek to preserve SOX provision

In a letter, the Center for Audit Quality and two investor groups opposed a provision of a bill that would decrease the number of companies required to comply with the rules in Sarbanes-Oxley Act Section 404(b).

May 1, 2017

FASB updates requirements for employee benefit plans

The changes relate to disclosure and presentation for master trusts.

May 1, 2017

FinREC seeks comment on telecommunications revenue recognition issue

FinREC has published a working draft for its revenue recognition implementation guide that seeks feedback on an issue for telecommunications entities.

May 1, 2017

FASB changes presentation of defined benefit costs

The current presentation was said to combine heterogeneous elements.

May 1, 2017

FASB clarifies scope of asset derecognition guidance

Accounting for partial sales of nonfinancial assets is also addressed.

May 1, 2017

FASB proposes simplifying accounting for share-based payments to nonemployees

The changes would expand the scope of transactions covered by ASC Topic 718.

May 1, 2017

Improving fraud controls in complex accounting areas

Recommendations are made for accounting policies and ICFR.

May 1, 2017

SEC to require hyperlinks to exhibits in company filings

The commission also proposed an Inline XBRL requirement.

May 1, 2017

FinREC publishes drafts on 5 revenue recognition issues

The latest topics include aerospace, broker-dealers, time-share, and utilities.

April 3, 2017

Revenue recognition working drafts issued for 4 industries

Working drafts for the airlines, gaming, hospitality and time-share industries were included in the latest group of issues exposed for the AICPA’s guide to implementing FASB’s revenue recognition standard.

April 1, 2017

Lease accounting revamp

Careful planning and collecting of lease inventory data are key in implementing FASB’s new standard.

April 1, 2017

FASB drops Step 2 from goodwill impairment test

Early adoption is permitted this year.

April 1, 2017

FASAB issues new standard on insurance programs

Guidance rescinds existing rules.

April 1, 2017

FinREC publishes revenue recognition working drafts for insurance, software

The AICPA is issuing an industry-specific guide.

April 1, 2017

PCAOB issues guidance on new Form AP reporting

The engagement partner’s name must stay consistent.

March 30, 2017

New rules for accounting for amortization of premiums for purchased callable debt securities

FASB issued a new standard that makes targeted changes designed to prevent the recognition of too much interest income before a borrower calls the debt security, and prevent the recognition of a loss on the call date.

March 29, 2017

How financial statement audits deliver key business insights

Financial statement audits are not just a compliance exercise, but also an opportunity to gain knowledge that can generate positive business results.

March 20, 2017

GASB addresses wide range of accounting issues

GASB issued a new statement that addresses a wide range of accounting issues that have challenged state and local government financial statement preparers.

March 20, 2017

Working with competitors can aid revenue recognition effort

Participating in industry groups has emerged as one of the best tactics for success.

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Making the right choice when no one is watching

The true test of one’s character is the decision made when no one is looking over your shoulder. Learn how CPAs can uphold ethical standards and take actions that help limit liability risk.