Accounting Standards
Latest News
Florida Man Pleads Guilty to $1.7 Million Tax Evasion
Generational Change … I’m Getting Old
PCAOB Chair Sworn in For Second Term
Cohen & Co. Gets Private Equity Backing
FASB Issues Accounting Standards Update on Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income
The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting reclassifications out of accumulated other comprehensive income.
FASB Suggests Changes to Accounting for Repurchase Agreements
The Financial Accounting Standards Board has issued for public comment its proposal to improve financial reporting about repurchase agreements and other transfers with forward agreements to repurchase transferred assets.
New Financial Reporting Standards for Small Businesses
New AICPA framework would offer small businesses a new method of financial reporting. The framework is intended for companies who are not required to use Generally Accepted Accounting Principles.
BNA Launches New Accounting Resource Center
Site offers tools for understanding how accounting standards can be applied, from the valuation and impairment of assets, to accounting for financial instruments, as well as how these standards are changing.
Murray State & Texas A&M Professors Write the Book on Financial Accounting & Reporting
Two professors in the Bauernfeind College of Business at Murray State University, L. Murphy Smith, DBA (Doctor of Business Administration), and Katherine Taken Smith, DBA, along with Shannon Knight, CPA, a business professor at Texas A&M University, collaborated on a new financial accounting textbook. The book, Financial Accounting and Reporting, is published by CCH.
SEC Stalls on IFRS, Some Companies May Adopt Anyway
U.S companies will not be required to meet a mid-2013 deadline for adopting IFRS accounting standards. At least not anytime soon.