The SEC raised a disclosure threshold and sought public comment on other ways to modernize its rules for employee stock compensation.
Accounting and Financial Reporting
FASB made clarifying changes and corrected unintended application of guidance in a standard that updates its Accounting Standards Codification.
Two FASB staff memos issued last month provide insight to private company financial statement preparers on how to overcome implementation challenges that some have encountered with the new revenue recognition standard.
Here are five tips that can help not-for-profits prevent some financial statement errors mistakes.
No significant effects on current practices are expected.
Gaming and telecommunications are up for discussion.
Questions arose with the new revenue recognition standard.
A guide under development will assist with estimates.
The SEC voted to change the definition of “smaller reporting company” in an effort to expand the number of companies that qualify for scaled disclosure accommodations.
The U.S. Securities and Exchange Commission voted to adopt and propose several new rules, including changes to the SEC’s whistleblower program and a requirement to use Inline XBRL in certain filings.
The proposal attempts to reduce diversity in practice on the accounting for complex instruments that have features of debt and equity.
The proposal would realign the definitions of “collections” used in GAAP and the American Alliance of Museums’ Code of Ethics for Museums.
The ASU seeks to simplify accounting for grants and similar contracts awarded by governments to not-for-profits.
FASB released an Accounting Standards Update (ASU) designed to improve the financial reporting for share-based payments issued to nonemployees for goods or services.
Information about performance and position is prioritized.
A 2015 change by FASB can affect debt covenant ratios and has the potential to move companies out of compliance with their restriction thresholds.
The Federal Accounting Standards Advisory Board issued amended accounting rules for recognition of inter-entity costs by federal agencies.
New implementation guidance issued by the GASB is designed to clarify, explain or elaborate on state and local government accounting standards.
A new FASAB proposal is designed to promote consistency in the accounting treatment and reporting for land holdings while considering the information needs of financial statement users.
The working draft of an Accounting and Valuation Guide issued by the AICPA provides guidance on the accounting for and valuation of portfolio company investments of venture capital and private-equity funds and other investment companies.