Audit & Accounting

IMGCAP(1)]The Financial Accounting Standards Board took plenty of heat in April for loosening mark-to-market guidelines, a move that critics assailed as a gift to the financial industry and a nod to political pressures.

The Financial Accounting Standards Board plans to draft proposed updates to fair value accounting standards with new disclosure requirements.

CCH has released the latest version of its TeamMate audit management software with enhanced management reportlng and issues-tracking features.

IMGCAP(1)] All too often, professional leadership seminars fail to live up to their potential for lively, intellectually engaging discussions about current issues and those on the forefront. I recently returned from the AICPA’s Inaugural Leadership Academy in Chicago where 28 young CPAs discussed topics affecting accountants everywhere.

The American Bankers Association is objecting to the newest proposed accounting standards for financial instruments, claiming that they would dramatically expand the use of the much-maligned mark-to-market accounting.

The International Accounting Standards Board has published a set of proposals on the classification of rights issues to clarify their accounting treatment when they are in a currency other than the issuer’s.

The Financial Accounting Standards Board and XBRL US have completed their work in revising the XBRL U.S. GAAP Taxonomy to reflect the FASB Accounting Standards Codification that was released on July 1.

IMGCAP(1)] The National Association of State Boards of Accountancy called for independent funding of global accounting standard-setters.

Accounting firm Plante & Moran has introduced a “Liquidity Stress Test” tool that manufacturing businesses can use to assess their working capital needs.

Grant Thornton has introduced a service designed to speed companies through the bankruptcy and workout process.