Audit & Accounting

The American Institute of CPAs’ Financial Reporting Executive Committee, also known as FinREC, has posted a pair of working drafts on how accountants can deal with two issues related to the Current Expected Credit Loss standard that will be taking effect at the end of next year.

The 24-year-old says young accountants should be gearing up to provide 'direct accounting value' in the future.

The International Integrated Reporting Council unveiled an Academic Database on Wednesday, featuring more than 200 academic studies on the ramifications of integrated reporting, as well as discussing some of the best practices emerging in the field.

One crucial requirement is an indisputable audit trail that satisfies the evidence requirements of even the most scrutinizing auditor.

The research and learning company will supply CFA Exam materials to support the growing financial presence in Africa.

Accounting professionals, as the stewards of financial information, have a unique opportunity to take the lead in adopting the new lease guidance and implementing lease accounting software.

New guidance on a single method for government issuers could eliminate differences in practice.

The Financial Accounting Standards Board is looking for public companies that are willing to participate in research on potential improvements to the segment aggregation guidance and the reportable segments process.

Corporate executives and their accountants have long contended that the use of adjusted earnings, which ignore costs like acquisition expenses, interest payments or just about anything they find inconvenient, gives investors a better picture of companies’ performance. Under no circumstances is it manipulation, they say. But a new study suggests it just might be.

Special Counsel Robert Mueller’s prosecutors walked the jury in the trial of Paul Manafort through records to back their claim that the former Trump campaign chairman deceived his own financial advisers to hide his foreign accounts and income from U.S. tax authorities.