Financial reporting

The artificial intelligence company was facing legal scrutiny in the weeks before it went bust.

The changes deal with the intersection of the requirements of FASB's revenue recognition and stock compensation standards as they involve customers.

The Federal Accounting Standards Advisory Board wants input on accounting issues and questions related to reorganizations and abolishments amid DOGE cuts.

The findings come after a net loss of $31.7 million for the first quarter, which ended with cash, cash equivalents and short-term investments of $759 million.

Among companies that have disclosed financial projections, GM sees a $5 billion hit this year, while Apple expects $900 million in higher costs this quarter.

Judgments that are overly optimistic, unsupported, or poorly documented can tip into the territory of errors or fraud, leading to restatements and enforcement.

The Financial Accounting Standards Board issued a proposed accounting standards update on debt exchange transactions involving multiple creditors.

The Financial Accounting Standards Board published a rule in 2023 requiring companies that hold crypto to report their tokens at fair value.

Michael Saylor's Strategy and fellow corporate buyers of Bitcoin are being made to recognize the unrealized changes.

Retail entrepreneur Christine Hunsicker resigned from CaaStle after the startup's board of directors alleged she misrepresented the company's performance.

Builder.ai lowered sales figures and hired auditors, a major setback for the artificial intelligence startup backed by Microsoft and the Qatar Investment Authority.

The move comes after ADM adjusted years of financial results due to errors in the way it reported transactions between business units.

After accounting issues arose at Autodesk, Starboard has pressured the board to reevaluate the performance of CEO Andrew Anagnost.

KPMG LLP has taken a significant step by launching KPMG Law US, marking a milestone as the first law firm owned by a Big Four firm to serve the U.S. market.

The Securities and Exchange Commission's new EDGAR system will go live on March 24.

The American Institute of CPAs is providing a framework to stablecoin issuers for presenting and disclosing information related to the tokens they issue.

Love it or hate it, beneficial ownership information reporting is on the shelf for most small businesses — for now, at least.

The Treasury announced it would no longer enforce the Corporate Transparency Act, nor enforce any penalties or fines associated with beneficial ownership reporting.

Helping business owners understand the flood of accounting and financial data they face is a major opportunity for accountants.

A diverse range of financial investments and assets adds another layer of complexity for accountants working with family offices.