Financial Reporting July 31, 2025
In Absence of Certainty, CFOs Turn to Technology
Finance leaders can make progress toward maximizing visibility and minimizing spend by quickly adopting emerging technologies, including AI and automation.
April 12, 2016
Sustainable Accounting Standards Developed For All Industries
The organization has opened three key documents—the SASB Rules of Procedure, the SASB Conceptual Framework, and proposed changes to its Sustainable Industry Classification System (SICS) — for a 90-day public comment period.
March 30, 2016
FASB Issues Guidance On Employee Share-Based Payments
Accounting for employee share-based awards was identified by the Private Company Council (PCC) as an area of concern among private company stakeholders. The PCC worked with the FASB to discuss and analyze the issues that private companies have ...
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.
February 29, 2016
GASB Statement Provides Guidance on Reporting of Component Units
The Governmental Accounting Standards Board (GASB) has a new statement about how certain component units incorporated as not-for-profit corporations should be presented in the financial statements of the primary state or local government.
February 29, 2016
New FASB Guidance Focuses on Lease Accounting
“The new guidance responds to requests from investors and other financial statement users for a more faithful representation of an organization’s leasing activities,” stated FASB Chair Russell G. Golden.
January 31, 2016
Feb. 1 Is Last Day To File W-2s and 1099s
Businesses with employees or anyone who has contracted for more than $600 in work to a freelancer or subcontractor: you have until February 1, 2016, to provide the appropriate wage and income reporting form – a W-2 or 1099-MISC – to all recipients.
January 27, 2016
FASB Proposes Changes to Reporting of Pensions and Other Retirement Plans
Under Generally Accepted Accounting Principles (GAAP), defined benefit pension cost and postretirement benefit cost (net benefit cost) comprise several components that reflect different aspects of an employer’s financial arrangements, as well as the ...
January 22, 2016
Should More CFOs be Involved in Software Development?
The CFO is trained to picture every detailed step when reviewing a process. The CFO foresees bottlenecks in operational activities few others are trained to find. As a result, the CFO brings a new level of clarity to software development, eliminating ...
January 22, 2016
Internal Controls and Data Security Top List of Worries For Financial Execs
Internal controls over financial reporting and data security have leaped to the top of the list of compliance issues that cause sleepless nights for executives who prepare corporate financial information.
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 30, 2015
IRS Extends Deadline for ACA Obamacare Reporting
The IRS has issued a two-month extension for employers and issuers to provide individuals with forms reporting on offers of health coverage and coverage provided. The new deadline is March 31, 2016.