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.
October 8, 2014
UN Coalition Considers Financial Reporting Rules on Disaster Resilience
A new initiative to examine climate risk stress testing for banking and securities regulation and accounting practices was recently unveiled at the UN Climate Summit in New York by public and private sector organizations working together in response to th
September 3, 2014
FASB Releases Proposed 2015 GAAP Financial Reporting Taxonomy
The Financial Accounting Standards Board (FASB) has released the proposed 2015 GAAP Financial Reporting Taxonomy for public review and comment. The deadline to submit written comments is October 31, 2014.
September 3, 2014
Jim Dolinar to Head AICPA Financial Reporting Executive Committee
Dolinar, 55, is managing partner of the Assurance Professional Practice, national office of Crowe Horwath LLP, Chicago, Ill. As chairman, he will head one of the Institute’s most important volunteer bodies. It serves as the AICPA’s official voice on financial reporting matters and develops industry-specific accounting guidance. The committee’s membership includes representation from business and…
September 2, 2014
FASB Commended for Update to Financial Guidance Reporting of Going Concern Entities
"“The CAQ commends FASB for its efforts in developing a standard that provides guidance regarding a preparer’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern, and, where required, to provide footnote disclosures about going concern uncertainties each reporting period," said executive director Cindy Fornelli.
August 20, 2014
Proposal Would Simplify Accounting for Cloud Computing Fees Paid by Customers
As part of its simplification initiative, the Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update intended to simplify the accounting for a customer’s fees paid in a cloud computing arrangement.
July 28, 2014
Financial Restatements Fell Significantly During Past Decade
An in-depth academic analysis of trends and characteristics of restatements to public company financial statements in the United States in the 10-year period following the Sarbanes-Oxley Act (SOX) reveals a substantial drop in the number and severity of restatements.
July 15, 2014
FASB Simplifies Inventory Management Guidelines
As part of an initiative towards simplifying accounting standards, the Financial Accounting Standards Board (FASB) has issued two proposed updates that are meant to ease the measurement of inventory and eliminate the requirements for extraordinary items
June 18, 2014
FASB Issues New Standard on Reporting of Repurchase Agreements
The Financial Accounting Standards Board (FASB) has issued a new standard to improve the financial reporting of repurchase agreements and other similar transactions. Accounting Standards Update No. 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements.
June 13, 2014
How Outsourced Accounting Services are a Win-Win for Firms and Business Clients
Successful firm management requires an eye on tomorrow and a willingness to implement change with thoughtful planning. Adding bookkeeping and accounting services can increase firm revenue, and provide your clients with more options to suit their businesses with a higher level of satisfaction.
June 10, 2014
Intacct Launches Performance Cards, New Dashboard Visualization Feature
Cloud accounting and business management developer Intacct has announced the launch of Performance Cards, new dashboard visualizations that provide users with at-a-glance views into critical performance trends. Built directly into the Intacct financial management system, Performance Cards are easy to create, require no custom code development or additional software, and leverage Intacct’s dimensional general ledger…
June 5, 2014
FASB and IASB Form Joint Transition Resource Group for Revenue Recognition
Members of the TRG include financial statement preparers, auditors and users representing a wide spectrum of industries, geographical locations and public and private companies and organizations.
June 4, 2014
Special Report Offers Overview of New FASB and IASB Revenue Recognition Model
Financial information and technology company Thomson Reuters has released a special report, An Overview of the Revised Accounting Model for Revenue Recognition, which provides useful insights for corporate management teams, shareholders, lenders, analysts, investors, regulators, and accounting firms that utilize revenue to monitor organizations' financial performance and general financial health.