Accounting & reporting news and resources

Engagement partners’ names will be required to be reported consistently on all Forms AP filed with the Public Company Accounting Oversight Board under new PCAOB staff guidance.

January 19, 2017

5 strategies to efficiently implement the new lease accounting standard

Deloitte offers five strategies to help find efficiencies and avoid unnecessary disturbances.

January 18, 2017

FASAB issues new standard on insurance programs

A new federal government accounting standard is designed to provide concise and meaningful information about insurance costs and liabilities.

January 12, 2017

IASB proposes amendments to 3 IFRS standards

The IASB issued clarifications to standards related to income taxes, borrowing costs and investments in associates and joint ventures.

January 10, 2017

FASB addresses debt classification, inventory disclosures

FASB addressed balance sheet classification of debt and the disclosure requirements for inventory under the board’s Disclosure Framework.

January 5, 2017

FASB clarifies definition of a business

The definition was clarified because of concerns that many transactions that should be considered asset acquisitions were being recorded as business acquisitions for accounting purposes.

January 4, 2017

AICPA exposes more revenue recognition working drafts

The latest drafts address issues in the aerospace and defense, telecommunications, and time-share industries.

January 4, 2017

GASB introduces possible new approaches for governmental fund reporting

Three possible alternative recognition approaches for governmental fund reporting are included in an Invitation to Comment issued by GASB.

January 4, 2017

Revenue recognition: Guidance for preparers and auditors

Financial statement preparers and auditors face important challenges as they implement FASB’s new revenue recognition standard.

January 1, 2017

FASB proposes technical correction to not-for-profit standard

FASB proposed a technical correction to the new financial reporting standard for not-for-profits that the board issued in August.

January 1, 2017

AICPA issues revenue recognition working drafts for broker-dealers

FinREC is developing an implementation guide.

January 1, 2017

White to leave SEC chair post in January

Regulator embraced enhanced data analytics and technology in enforcement during her nearly 4-year tenure.

January 1, 2017

AICPA panel answers 8 technical questions for investment accounting

Most of the Q&As pertain to liquidation.

January 1, 2017

FASB requires recognition of income tax consequences upon intra-entity transfers

The new standard is meant to simplify income tax reporting.

January 1, 2017

FASB proposes new guidance for service concession arrangements

The change would clarify the ‘customer’ in certain arrangements.

FROM THIS MONTH'S ISSUE

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.