Audit & Accounting

The Financial Accounting Standards Board recently released a new accounting standards update on consolidation for not-for-profit entities. Lee Klumpp, director in BDO’s Institute for Nonprofit Excellence, discusses the implications for organizations and how they are dealing with the other new rules FASB issued last year for nonprofits.

The last great innovator in accounting may well have been Luca Pacioli, 500 years ago. Isn't it time for another one?

Preparers who file a return claiming the credit without including a W-2 to substantiate the income may get a warning.

Baker Tilly Virchow Krause serves up a flight of services to the fast-growing clients in its craft beverage practice.

Gavin Patterson sought to distance himself from an accounting scandal that’s rocked the U.K. phone company, pointing the blame squarely on a few rogue employees and removing the head of European operations.

The Financial Accounting Standards Board has released a new standard that promises to simplify the goodwill impairment test, allowing many companies that don’t already apply the private company accounting alternative for goodwill to skip an extra step.

The firm network achieved total global gross revenues of $3.7 billion in the year ending Dec. 31, 2016.

The American Institute of CPAs has been producing guidance for how different industries can deal with the new rev rec standard that will be taking effect at the end of the year.

International Ethics Standards Board for Accountants finishes the first phase of its project for restructuring the Code of Ethics for Professional Accountants.

Allegations of embezzlement at the telecommunications company’s Italian unit follow disclosure of a 530 million-pound writedown.