Accounting standards

The Financial Accounting Standards Board and the International Accounting Standards Board are taking different approaches to setting standards for rate-regulated utilities, and a FASB board member sees little prospect for an agreement.

The International Accounting Standards Board announced its intention Monday to create a transition resource group that will focus on the upcoming new requirements for impairment of financial instruments under International Financial Reporting Standards.

The Financial Accounting Standards Board has issued a new accounting standards update for stock compensation.

The new converged revenue recognition standard from the Financial Accounting Standards Board and the International Accounting Standards Board could have an impact on not only financial statement preparers, but on tax practitioners and auditors as well.

The Governmental Accounting Standards Board has published two proposed statements to improve financial reporting by state and local governments of other post-employment benefits, such as retiree health insurance.

The Financial Accounting Standards Board has released a new accounting standard to address some of the problems with financial reporting on repurchase agreements, such as those that contributed to the demise of MF Global.

The Financial Accounting Standards Board has added two short-term projects to its agenda to simplify U.S. GAAP as part of its initiative to reduce complexity in accounting standards.

The Financial Accounting Standards Board issued an accounting standards update Tuesday to improve financial reporting for development-stage entities, eliminating the inception-to-date information and differences in consolidation guidance.

Thomson Reuters has released a special report on the newly issued accounting standard on revenue recognition from the Financial Accounting Standards Board and the International Accounting Standards Board.

The Financial Accounting Standards Board and the International Accounting Standards Board officially announced the formation Tuesday of a Joint Transition Resource Group for Revenue Recognition.

Some of the major accounting firms and the American Institute of CPAs are planning to publish materials to help accountants and companies deal with the new revenue recognition standards.

A roundup of resent news in audit and attest.

CPA firms are advising clients to begin to get ready for the newly released revenue recognition standards, even though they won’t be taking effect until 2017.

Changes in the proposed lease accounting standards that the Financial Accounting Standards Board and the International Accounting Standards Board are working to converge are expected to have an impact on approximately half of public companies, but less than 10 percent will see a major impact, according to new research by the IASB.

The Governmental Accounting Standards Board voted unanimously Wednesday to approve two exposure drafts proposing significant improvements to financial reporting by state and local governments of other post-employment benefits, such as retiree health insurance.

The Financial Accounting Standards Board and the International Accounting Standards Board have released their long-awaited converged standard on revenue recognition after more than a decade of effort.

The Governmental Accounting Standards Board has issued a proposed standard to address the accounting and financial reporting issues related to fair value measurements for state and local governments.

The International Auditing and Assurance Standards Board has released for public comment proposed changes to the International Standards on Auditing to clarify the expectations of auditors when auditing financial statement disclosures.

The Financial Accounting Standards Board has issued a proposed accounting standards update on “pushdown accounting” from FASB’s Emerging Issues Task Force.

The Securities and Exchange Commission has issued an order staying the effective date for compliance with the some of the conflict minerals rules the agency had drawn up after an appeals court ruled that they violated the First Amendment.