Financial reporting

A Houston-based company, FMC Technologies, has agreed to pay a $2.5 million penalty to resolve charges that it overstated profits in one of its business segments, the Securities and Exchange Commission said Thursday.

GASB issued an exposure draft of a proposed implementation guide on the requirements of GASB Statement No. 74, "Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans."

Board members at public companies largely favor the use of non-GAAP measures but differ on disclosures of how they’re being used, according to a new survey.

An academic study demonstrates that earnings management is pervasive across U.S., European and Asian companies, whether they’re using U.S. GAAP or International Financial Reporting Standards.

Why modern budgeting requires built-in business logic and accounting rules

Companies are beginning to revamp their financial reports to incorporate sustainability disclosures in response to demand from investors.

FASB’s invitation to comment and the duh-preciation elephant

Marvell Technology Group Ltd. said it will cover as much as $15.4 million of taxes and penalties incurred by former Chairman and Chief Executive Officer Sehat Sutardja when he exercised backdated options in 2006.

Exxon Mobil Corp.’s accounting has prompted a U.S. Securities and Exchange Commission investigation into whether the energy giant should have written down assets as a result of the oil slump, according to a person with knowledge of the matter.

New York Attorney General Eric Schneiderman’s probe into Exxon Mobil Corp. includes scrutiny of why it didn’t write down the value of oil fields during a global collapse in prices that prompted billions in write-offs by rival drillers, according to a person familiar with the matter.