Auditing December 6, 2024
PCAOB Says Audit Firm Culture is Tied to Audit Quality
Taking a deep dive into internal firm culture, a new PCAOB staff report discusses several factors that can impact audit quality.
August 2, 2016
New FASB Update to Enhance Tax Disclosure Requirements
The proposed ASU is part of the FASB’s broader disclosure framework project to improve the effectiveness of disclosures in notes to financial statements by clearly communicating the information that is most important to users of a reporting ...
July 26, 2016
Report Focuses on New Accounting Model for Leases
Leasing is an important source of financing for many entities in the United States and around the globe. Many entities enter into leasing arrangements to gain access to assets, obtain financing, or reduce exposure to the risks of ownership of an asset.
June 27, 2016
Most U.S. Companies Lagging On New FASB Revenue Recognition Standard
60 percent of respondents indicated that they are running behind schedule in their overall implementation of the standard, which has an effective date as early as January 1, 2018, for many organizations.
June 21, 2016
FASB Finalizes Standard for Credit-Loss Accounting
After numerous delays and extensions, the Financial Accounting Standards Board (FASB) issued its long-awaited final standard on accounting for credit losses on Thursday. After meeting with concerned community bankers, auditors and regulators, the ...
May 20, 2016
The Value of Non-GAAP Measures and Other KPIs
Non-GAAP measures and other key performance indicators (KPI’s) have made headlines recently as more and more companies are including non-GAAP measures in their SEC filings and public communications.
May 11, 2016
2016 Pocket Guide to IFRS Standards Now Available
80 jurisdictions now require or permit use of the IFRS for SMEs Standard—a self-contained Standard specifically designed for small and medium-sized companies without public accountability—which was first issued in 2009.
April 21, 2016
Businesses Struggling With New Accounting Standards and Billing Models
CFOs and senior management teams are reassessing their revenue management practices and technology in response to shifting market conditions that demand new billing models, according to “The New World of Revenue Management” report released today by ...
March 1, 2016
Report Focuses on New FASB Lease Accounting Standard
When the new lease accounting standard becomes effective, lessees will for the first time be required to report billions of dollars in leased assets and corresponding liabilities from operating leases on their balance sheets.
January 6, 2016
FASB Issues New Guidance on Recognition and Measurement of Financial Instruments
The ASU on recognition and measurement will take effect for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For private companies, not-for-profit organizations, and employee ...
December 30, 2015
2016 GAAP Financial Reporting Taxonomy Now Available
The GAAP Financial Reporting Taxonomy is a list of computer-readable tags in eXtensible Business Reporting Language (XBRL) format that allows companies to tag precisely the thousands of pieces of financial data that are included in typical long-form ...
December 17, 2015
Portfolios Offer Guidance On New Revenue Recognition Standard
The Portfolios provide a detailed description of the five steps corporations will need to employ in recognizing revenue and offer practical insight to professionals within corporations responsible for implementing and complying with the new standard.
September 30, 2015
FASB Seeks Changes to Financial Statement Disclosures Required by GAAP
The Financial Accounting Standards Board (FASB) has issued two exposure drafts related to its disclosure framework project. The public, including accounting professionals and other stakeholders, have until December 8, 2015, to review and comment on ...