Accounting & reporting news and resources

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July 12, 2023

SEC approves new rules for money-market funds

The SEC adopted amendments to certain rules that govern money market funds under the Investment Company Act of 1940, which are designed to improve the resilience and transparency of money market funds.

July 11, 2023

4 AICPA & CIMA leaders discuss global sustainability standards

Leaders with their finger on the pulse of sustainability reporting see an opportunity for accountants to create value. They also see that challenges such as interoperability and capacity building will need to be addressed.

July 10, 2023

GASB provides guidance on application of standards

GASB has issued implementation guidance in the form of questions and answers, that is intended to clarify a series of the board’s pronouncements.

June 29, 2023

The key role accountants will play in the shifting definition of value

An ESG leader from AICPA & CIMA explains more about new global sustainability standards in this podcast episode with transcript. Topics include the shifts that business in general and the accounting profession in particular should make in response.

June 27, 2023

FASB proposes improvements to accounting for purchased financial assets

FASB is seeking comments on a proposed Accounting Standards Update intended to improve accounting for purchased financial assets.

June 26, 2023

In one minute, this simple tool could save practitioners hours

Practitioners now have at their fingertips an interactive PDF that can quickly help determine whether AR-C Section 70 of SSARS No. 21 is required to be applied when performing accounting services.

June 26, 2023

Historic global standards for sustainability reporting released

The IFRS Foundation’s International Sustainability Standards Board issued IFRS S1 and IFRS S2 on Monday, the first two global standards for sustainability reporting.

May 31, 2023

FASAB committee proposes changes to guidance on leases

With a new standard for reporting on leases soon to be effective, the Accounting and Auditing Policy Committee is seeking comments on updates to its leases guidance in a 2021 technical release.

May 18, 2023

SEC proposals address risk management for clearinghouses

The proposals would require the establishment of a risk-based margin system that monitors intraday exposure on an ongoing basis, in addition to requiring a more robust recovery and wind-down plan.

May 17, 2023

Why private companies need a plan for ESG reporting, assurance

Even if regulations don’t legally apply to private companies, they often apply from a practical standpoint. A new resource offers guidance on the importance of assuring sustainability data for public and private companies alike.

May 15, 2023

FASAB seeks feedback on its existing standards

The FASAB is seeking comments on its Reexamination of Existing Standards project to ensure that its standards meet users’ needs and provide financial information that supports public accountability and transparency.

May 12, 2023

FASB issues proposed changes to profit-sharing arrangements

FASB is seeking comments on a proposed Accounting Standards Update related to guidance for entities on determining whether profits interest and similar awards should be accounted for as share-based payment arrangements.

May 3, 2023

SEC increases transparency requirements for private, public securities

One set of amendments affects advisers for large hedge funds and private-equity funds; a second set of amendments increase public company disclosures related to buybacks.

April 27, 2023

How the Financial Accounting Foundation plans to strengthen oversight

The organization’s latest effort provide a more convenient way for stakeholders with questions about due process in standard-setting to voice their concerns.

April 7, 2023

FASAB issues statement to clarify lease terms

The Federal Accounting Standards Advisory Board issued a statement intended to provide targeted technical clarifications to further facilitate implementation of SFFAS 54, Leases.

March 30, 2023

COSO releases internal control guidance for sustainability reporting

COSO has published supplemental guidance that can be used to apply its internal control framework to reporting on sustainability.

March 27, 2023

FASB issues update to leases guidance

The amended Accounting Standards Update addresses concerns related to terms and conditions to be considered and accounting for leasehold improvements.

March 23, 2023

FASB issues proposed changes to cryptoasset accounting, disclosure

FASB is seeking comments on a proposed Accounting Standards Update that is intended to improve the accounting for and disclosure of certain cryptoassets.

March 22, 2023

SEC moves toward requiring electronic filings

The commission proposed amendments that would require registrants to file a number of submissions electronically as it works to modernize the agency’s information collection and analysis methods.

March 17, 2023

FASAB issues bulletin on reimbursable work agreements

FASAB issued a technical bulletin to further explain and address accounting issues not directly covered under Statement of Federal Financial Accounting Standards 54 and other relevant statements.