Accounting standards

A group of seven Senate Democrats and one independent has written a letter to the Financial Accounting Standards Board asking FASB to require multinational corporations to disclose their taxes, profits, and revenues on a country-by-country basis, echoing a recent letter from a group of House lawmakers.

The Public Company Accounting Oversight Board will be looking out for some major risk areas at audit firms in the months ahead.

SASB’s Jean Rogers discusses the board’s coming set of standards.

A staff alert highlights the board’s requirements for auditors, among other things.

The report is part of IASB’s better communication in financial reporting initiative.

The Financial Accounting Standards Board published a proposed accounting standards update Tuesday to clarify and get rid of some specific inconsistencies in key parts of GAAP.

Paul Becht, a partner at Top 100 Firm Margolin, Winer & Evens, discusses FASB’s new leasing standard and how it will affect the real estate industry and other sectors.