Accounting & reporting news and resources

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August 7, 2015

FASB exposure drafts propose amended standards for derivatives and hedging

FASB is seeking comments on two Proposed Accounting Standards Updates related to derivatives and hedging.

August 5, 2015

SEC approves CEO pay ratio rule

The SEC approved a new rule requiring U.S. public companies to disclose the ratio between their CEO’s compensation and that of their median employee.

August 5, 2015

Proposed IFRS taxonomy updates released

Taxonomy updates to reflect new reporting standards were proposed by the IFRS Foundation. Comments can be made through Oct. 30.

August 1, 2015

FASB continues pursuit of simplification

Exposure drafts address equity method, share-based payments, and business combinations.

August 1, 2015

What now? Responding to a subsequent discovery of fact

A CPA is required to take action when relevant facts come to light after financial statements or audit reports have been issued. AICPA standards help guide the appropriate response.

August 1, 2015

Review finds FASB’s noncontrolling interests standard achieves purpose

Room for possible improvement is also found in Statement No. 160.

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.

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Build reusable Skills in Anthropic’s Claude AI

Instead of rewriting prompts each time, CPAs can turn routine tasks into reusable AI Skills. This Technology Q&A walks through how to build Claude Skills that process files, ask setup questions, and export clean Excel outputs.