Accounting Compliance and Reporting (US)

FASAB clarifies cleanup cost liabilities guidance

A new interpretation of Federal Financial Accounting Standards is designed to clarify the application of cleanup cost liability standards when multiple component reporting entities are involved.

FASB proposes delays in 3 key effective dates

Private companies and certain other preparers would see delays in effective dates for accounting standards for leases, hedging, and credit losses under a proposal issued by FASB.

FASB considering goodwill accounting changes

FASB issued an Invitation to Comment on whether the board should make changes to the accounting for certain identifiable intangible assets acquired in a business combination and subsequent accounting for goodwill.

SPONSORED REPORT

2019 State of Financial Reporting Survey

We surveyed nearly 600 finance and accounting professionals on their month-end close and reporting processes. See the results.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.