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July 1, 2016

FASB proposal addresses details on restricted cash

Specific guidance on this topic is currently lacking.

July 1, 2016

Expected credit loss standard moves forward

The global financial crisis spurred demand for timely information.

July 1, 2016

FASB proposes technical corrections and changes

The board aims for incremental improvements to GAAP.

June 28, 2016

How audit committees can evaluate non-GAAP measures

SEC Chair Mary Jo White said in a speech Monday that reporting of non-GAAP measures can provide a clearer picture of a company’s results.

June 23, 2016

FASB proposes amending consolidation guidance

FASB would amend consolidation guidance under a proposal issued with the intent of providing more useful information to users of financial statements.

June 16, 2016

New FASB standard requires earlier reporting of credit losses

Credit losses on loans and other financial instruments will be required to be reported in a more timely fashion under a standard the Financial Accounting Standards Board issued.

June 6, 2016

FASB proposes clarifying scope of nonfinancial asset derecognition guidance

FASB wants to clarify the scope of its nonfinancial asset derecognition guidance and address accounting for partial sales of nonfinancial assets.

June 6, 2016

Lease accounting implementation a challenge for preparers

Companies are encountering challenges with new lease accounting standards in a process few expect to be easy, according to a recent Deloitte survey.

June 3, 2016

FASAB seeks transparency on tax expenditures

The Federal Accounting Standards Advisory Board proposed a standard with the intention of providing the public more information about the U.S. government’s tax expenditures.

June 3, 2016

Revenue standard causes concern about compensation arrangements

The new revenue recognition standard is causing companies to review compensation arrangements and bonus structures that are based on revenue metrics, said Deloitte & Touche LLP’s Eric Knachel, CPA.

June 1, 2016

FASB simplifies transition to equity method of accounting

The new rules eliminate the retroactive adoption requirement in certain cases.

June 1, 2016

Governments get guidance on split-interest agreements

GASB’s standard affects recognition and measurement.

June 1, 2016

FASB, IASB clarify revenue recognition issues

Separate updates are designed to assist in implementation.

June 1, 2016

FASB moves to simplify share-based payment accounting

Private Company Council concerns played a role in the revamp.

June 1, 2016

FASB standard unifies embedded derivative practices

New rules implement a 4-step decision sequence.

May 18, 2016

FASB proposes more clarifications to revenue standard

Clarifications on guidance for contract costs, and preproduction costs related to long-term supply arrangements are included in the proposal.

May 12, 2016

FASB proposes simplifying goodwill impairment testing

FASB issued a proposal that would simplify goodwill impairment testing. The board proposed removing Step 2 from the goodwill impairment test.

May 9, 2016

FASB makes additional revenue recognition clarifications

FASB issued a third round of clarifications to its revenue recognition standard on Monday, focusing on narrow-scope changes and practical expedients.

May 5, 2016

Revenue judgments must be well-reasoned, SEC’s Bricker says

Financial statement preparers should make sure their judgments on revenue recognition are well-reasoned as they implement new accounting standards, SEC Deputy Chief Accountant Wesley Bricker said Thursday.

May 1, 2016

FASB standard answers timing concern for PCC alternatives

Stakeholders said that effective dates could hamper use.

FROM THIS MONTH'S ISSUE

Tax-efficient drawdown strategies in retirement

Want to stretch retirement funds and avoid tax pitfalls? This article shares tips and models for smarter drawdown strategies that maximize after-tax wealth, manage Social Security and Medicare impacts, and minimize surprises. Also see: Tax season preview and quick guide.