Financial reporting

Businesses are taking time adjusting to the new revenue recognition and lease accounting rules.

The first step is to admit there’s a problem.

Accountants serving U.S. banks and credit unions are bracing for the impact that the current expected credit loss model may have on the institutions’ allowance for loan and lease losses and capital levels, and these institutions are enacting transition plans now.

The new leasing rules will be hitting corporate balance sheets soon.

The litigation reached unprecedented heights last year, although the total settlement value declined significantly, according to a new report.

The CFA Institute has some advice for investors about the main questions they should be asking about the new revenue recognition standard.

Vague disclosures by public companies about how much they’re paying in taxes don’t appear to be deterring investors, according to a new study.

The new method would provide an alternative to the modified retrospective transition method.

Biotech, pharmaceutical, medical device and related businesses are dealing with recent accounting standards, plus a new tax law, amid a changing landscape for their industry.

Larry Smith, who served as a member of the Financial Accounting Standards Board from 2007 until 2017, is watching some of the standards he worked on for a decade now being rolled out, but he believes the board should be doing more on performance reporting and the FASB Accounting Standards Codification.