Audit & Accounting

The Financial Accounting Standards Board voted Wednesday to indefinitely defer certain disclosures about investments held by a nonpublic employee benefit plan in its plan sponsor’s own nonpublic equity securities.

The American Institute of CPAs and the Institute of Chartered Accountants in England and Wales are urging the Financial Accounting Standards Board to reconsider two separate elements of FASB’s financial instruments convergence project with the International Accounting Standards Board.

The Financial Accounting Standards Board has endorsed three proposals from the Private Company Council that would simplify the accounting for privately held companies.

The American Institute of CPAs has released its much-anticipated Financial Reporting Framework for Small- and Medium-Sized Entities, which is aimed at providing an alternative reporting option for small businesses that aren’t required to use GAAP.

Bob Moritz, chairman of PricewaterhouseCoopers LLP since July 2009, sat down with Accounting Today on Friday to discuss some of the issues facing the accounting profession and how PwC has been adapting to changes in the economy and accounting, as well as his encounter with Michelle Obama when handing her the envelope for the Academy Awards.

Mergers, manufacturing integrations, and partnerships were abound this week plus my take on what to expect at the upcoming AICPA Tech + Symposium.

The Committee of Sponsoring Organizations of the Treadway Commission, which provides guidance on internal control, enterprise risk management, and fraud deterrence, has issued a new article to help public companies make the transition to COSO’s recently updated internal control framework.

The Financial Accounting Standards Board has issued an accounting standards update setting forth a new approach for determining whether a public or private company is an investment company.

Office relocations, surveys, best company to work for and more…

Intacct has signed a partnership with manufacturing software developer Manufacturing Information Systsms(MISys) to deliver a manufacturing system for midsized businesses by integrating the two flagship products.