Accounting standards

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The International Integrated Reporting Council, the Sustainability Accounting Standards Board, the Global Reporting Initiative and the Carbon Disclosure Project are working to harmonize standards.

Nearly two-thirds of governments are expected to report on an accrual basis within the next five years.

The update clarifies the guidance on the interaction between some types of collaborative arrangements and the new revenue recognition standard.

The staff paper aims to help private company franchises implement the new accounting standard by offering them practical examples.

The vast majority of S&P 500 issuers are using the modified retrospective method of adopting the new rules.

The International Federation of Accountants has elected Dr. In-Ki Joo of South Korea as president for a two-year term through November 2020.

A new survey by the International Federation of Accountants examines trends in 150 countries.

Last month a very strange thing happened.

The new lease accounting standard that takes effect for public companies next year poses obstacles for the audit firms that have begun implementing it for their clients.

The accounting standard redefines the rules for operating leases.

The standards update aims to reduce the cost and complexity of variable interest entities, particularly for private companies.

In Larry Culp’s first earnings day as CEO, the company revealed an expanded federal probe into its accounting.

Companies are still behind schedule in getting ready for the impending standard, according to a new survey.

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ASU 2018-16 lets hedgers use the SOFR Overnight Index Swap Financing Rate.

The changes to the financial statement audit will be shaped by four factors: technology, methodology, standards and skills.

A Russian national was charged by the U.S. for allegedly being one of the masterminds behind a conspiracy to interfere in both the 2016 and 2018 elections, marking the first charges related to next month’s congressional midterm vote.

The Financial Accounting Standards Board’s new hedge accounting standard is prompting some companies to adopt the standard ahead of the Jan 1, 2019 effective date, though many companies are still not using hedge accounting at all.

The underlying challenges are becoming more apparent in comment letters from the Securities and Exchange Commission.