The Private Company Council held its inaugural meeting on Thursday to discuss how accounting standards should be adjusted for privately held companies.

The Financial Accounting Foundation’s board of trustees has appointed four new members to the Financial Accounting Standards Advisory Council and six new members to the Governmental Accounting Standards Advisory Council.

FASB chair Leslie Seidman lays out a schedule for handling the remaining projects on the convergence agenda

Financial Accounting Standards Board chair Leslie Seidman is planning for a multilateral way of working with the International Accounting Standards Board in the future, even as her term approaches an end next year.

The Financial Accounting Standards Board has issued a proposed Accounting Standards Update aimed at clarifying the scope of transactions that would be subject to disclosures about offsetting of assets and liabilities on the balance sheet.

The Securities and Exchange Commission and the Department of Justice have released A Resource Guide to the U.S. Foreign Corrupt Practices Act, a 120-page guide providing a detailed analysis of the U.S. Foreign Corrupt Practices Act, including the accounting provisions, and closely examining the SEC and DOJ approach to FCPA enforcement.

The American Institute of CPAs’ Accounting and Review Services Committee has issued exposure drafts of its proposed Statements on Standards for Accounting and Review Services as part of its Clarity Project and is asking for public comment on them.