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.
SEC regulatory compliance and reporting
The Securities and Exchange Commission voted to issue a concept release asking for comment on possible improvements to Regulation S-K.
Funding limits and disclosure requirements will apply.
Securities and Exchange Commission officials say they are focused on comparability and consistency in future financial reporting under the new revenue recognition standard as companies undergo transition.
The effective date of the revenue recognition standard is fast approaching. Here are some of the SEC chief accountant’s tips for implementing the new standard.
The SEC filed 807 enforcement actions and obtained orders totaling about $4.2 billion in disgorgement and penalties in fiscal 2015.
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.
Executive officers would be required to pay back incentive compensation awarded in error.
The commission is seeking public comment on information provided to investors.
The 2013 GAAP taxonomy is no longer supported.
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.
Commission seeks better information for investors.
The AICPA is encouraging members to comment on a new set of rules proposed for the use of extensible business reporting language (XBRL) in tagging financial reports submitted to the Securities and Exchange Commission.
New rules proposed by the SEC would require executives to repay incentive-based compensation that a subsequent accounting restatement shows was not earned.
Disclosures would include a total shareholder return metric.
The Securities and Exchange Commission can make changes to improve its EDGAR company filings database without the need for formal rulemaking.
Rules proposed by the SEC are designed to improve the reporting and disclosure of information by investment companies and investment advisers.
The proposal is designed to inform investors whether company personnel can receive incentive compensation through hedging even if the company performs poorly and the stock value drops.
SEC Chief Accountant James Schnurr’s idea for possibly allowing voluntary, supplemental IFRS information in U.S. GAAP financial statements has accountants wondering: Would companies actually bear the costs to take the option?
The SEC is considering the merits of an informal proposal that would allow voluntary filing of supplemental material in financial statements by U.S. public companies, according to SEC Chief Accountant James Schnurr.