January 6, 2016
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
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
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
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 ...
September 3, 2015
FASB also offers free CPE webcast to look at taxonomy changes, simplification and guidance issues.
June 30, 2015
Example disclosure topics include food safety, labeling & marketing integrity, climate change adaptation, and supply chain management. The standards average six topics per industry, and 71 percent of metrics are quantitative.
December 29, 2014
The Financial Accounting Standards Board (FASB) today issued guidance intended to improve private company financial reporting regarding accounting for identifiable intangible assets in a business combination. FASB Accounting Standards Update No. 2014-18, Business Combinations (Topic 805): Accounting for Identifiable Intangible Assets in a Business Combination, is based on a consensus reached by the Private Company...…
December 11, 2013
The Public Company Accounting Oversight Board (PCAOB) has released a report that provides information about registered audit firms' implementation and compliance with Auditing Standard No. 7, Engagement Quality Review.