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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.

June 19, 2015

Key report shows EU companies, investors support IFRS

IFRS are largely supported by companies and investors in the European, but also have room for improvement, according to a report adopted by the European Commission.

June 18, 2015

IASB proposes narrow amendments to pension accounting standards

The IASB is seeking to provide more information to investors and reduce diversity in practice through narrow-scope amendments to pension accounting standards.

June 17, 2015

SEC upgrades EDGAR, drops 2013 GAAP taxonomy support for XBRL

The SEC released a new version of EDGAR that no longer supports the 2013 taxonomy for the tagging of financial report data using extensible business reporting language.

June 17, 2015

IFRS business combinations standard review reveals need for further research

The IASB plans to do more research on certain areas of its business combinations standard as a result of a post-implementation review.

June 8, 2015

FASB issues 2 more proposals aimed at simplification

FASB issued proposals that are intended to simplify the equity method of accounting and improve employee share-based payment accounting.

June 1, 2015

Preferability and the private company alternatives

A FASB principle for accounting policy decisions may affect when private companies are able to elect GAAP financial reporting alternatives developed by the Private Company Council.

June 1, 2015

Don’t lose momentum on revenue recognition standard

Numerous changes, including a proposed delay in the effective date, are in play for the new revenue recognition standard. Here’s what preparers need to know and why they need to work toward implementation.

June 1, 2015

FASB simplifies presentation of debt issuance costs

The standard is designed to reduce unnecessary complexity.

June 1, 2015

AICPA deletes nonauthoritative guidance on uncertain tax position disclosures

The action comes after word from PCC and FASB members.

May 29, 2015

Recommendations could help SEC improve EDGAR database

The Securities and Exchange Commission can make changes to improve its EDGAR company filings database without the need for formal rulemaking.

FROM THIS MONTH'S ISSUE

How to replace running totals in Excel

Accountants routinely copy down formulas in Excel to track cumulative balances, such as cash flow and retained earnings, but there is a better way. This JofA Technology Q&A article shows the way with step-by-step instructions and a video walkthrough.