Accounting & reporting news and resources

TOPICS

August 1, 2015

SEC proposes new reporting requirements for investment companies, advisers

Commission seeks better information for investors.

August 1, 2015

IASB proposes changes to conceptual framework

Project would alter the foundational underpinning for IFRS financial reporting.

August 1, 2015

Insurance companies get new disclosure requirements

Rules provide more information about liabilities in short-duration contracts.

July 31, 2015

FASB update aims to simplify employee benefit plan accounting

The Financial Accounting Standards Board issued a three-part standards update designed to make accounting for employee benefit plans less complex.

July 30, 2015

IASB proposes revenue recognition clarifications

Clarifications and transition relief the IASB proposed for the new revenue recognition standard are designed to address financial statement preparers’ concerns.

July 23, 2015

FASB simplifies inventory measurement guidance

The Financial Accounting Standards Board has issued amendments designed to make the subsequent measurement of inventory less complex.

July 22, 2015

IASB votes to delay effective date of revenue recognition standard

The delay keeps IASB’s effective date in line with that of FASB, which also voted in favor of a one-year deferral earlier this month.

July 9, 2015

FASB delays revenue recognition effective date by one year

Citing challenges for financial statement preparers, FASB voted to delay the effective date of the new revenue recognition standard by one year, with early adoption permitted as of the original effective date.

July 1, 2015

SEC considers updating audit committee disclosure requirements

The SEC is evaluating whether audit committee disclosure requirements provide investors with the information they are seeking.

July 1, 2015

SEC proposal would require payback of incentive compensation awarded erroneously

New rules proposed by the SEC would require executives to repay incentive-based compensation that a subsequent accounting restatement shows was not earned.

July 1, 2015

SEC proposes linking executive compensation with performance

Disclosures would include a total shareholder return metric.

July 1, 2015

Not-for-profit financial reporting headed for a change

FASB is proposing changes to the fundamental model for not-for-profit financial reporting in an effort to provide better information to users of financial statements.

July 1, 2015

PCC diving into preferability

Analysis is sought on increasing access to private company GAAP alternatives.

July 1, 2015

FASB formally proposes revenue recognition changes

Guidance related to identifying performance obligations and licensing would be amended.

July 1, 2015

New FASB standards keep focus on simplification

Rules apply to reporting of certain retirement obligations and assets and accounting for cloud-computing vendor fees.

July 1, 2015

AICPA seeks continued commitment to private companies

Letter to FAF says PCC’s work on existing GAAP is not finished.

July 1, 2015

Direct-method transition would require prompt attention

Public colleges and universities encountered challenges after making the switch with GASB Statement 34.

July 1, 2015

FASB proposal addresses prepaid card breakage

If approved, a narrow-scope exception to liabilities guidance would be provided.

June 30, 2015

GASB establishes new GAAP hierarchy for governmental accounting

The Governmental Accounting Standards Board issued new guidance that cuts in half the number of categories of authoritative GAAP for state and local government financial reporting.

June 22, 2015

FASB, IASB to propose clarifications to principal vs. agent considerations

FASB and the IASB voted to seek public comment on proposed changes to the converged revenue recognition standard that would give financial statement preparers additional guidance on the principal versus agent analysis.

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.