Financial reporting

The American Institute of CPAs passed a resolution Tuesday at its Fall Meeting of Council that would give its board of directors the ability to consider the option of creating a separate committee or board to develop accounting standards for private companies.

CPA2Biz, the marketing arm of the American Institute of CPAs, will offer a CPA-branded email service, CPA.com, for AICPA members this fall, with the goal of offering the profession an alternative to consumer-oriented email services.

The American Institute of CPAs presented the results of a research project forecasting where the accounting profession will be in 2025.

The American Institute of CPAs and the Chartered Institute of Management Accountants intend to officially launch their new Chartered Global Management Accountant credential on January 31.

The American Institute of CPAs has launched a new letter-writing campaign aimed at pressuring the Financial Accounting Foundation to set up a separate standard-setting board for private company accounting.

The American Institute of CPAs has released a new white paper addressing the fair value measurement of financial assets and liabilities, for which there is no market.

The Institute of Certified Management Accountants, the certification division of the Institute for Management Accountants, launched the new simplified Chinese language version of its two-part Certified Management Accountant exam.

Chief financial officers and investors have increased their support for global accounting standards since the start of the economic crisis in 2008, according to an international survey published Thursday by the global Association of Chartered Certified Accountants.

The Public Company Accounting Oversight Board announced Thursday that it had permanently barred a Denver-based audit partner and permanently revoked the registration of a registered public accounting firm because the audit partner had participated in audits while subject to a previous bar.

The Internal Revenue Service has sent out an advisory to tax preparers and tax firms that do not have Electronic Filing Identification Numbers to obtain EFINs in order to meet the 2012 e-file mandate.

Top 100 CPA and business advisory firm Cherry Bekaert & Holland has divested its Mobile, Ala.-based office to local accounting firm Wilkins Miller Hieronymus LLC for undisclosed terms.

The Financial Accounting Standards Board said Wednesday that it would consider postponing the effective date of certain provisions of a recently issued standard on the presentation of comprehensive income.

A new report from a task force led by the International Federation of Accountants urges greater acceptance of globally accepted high-quality international standards for financial reporting, auditing, valuation and actuarial services and other regulations, to restore the proper functioning of the financial markets.

The New Jersey Society of CPAs said Friday that a number of candidates for the CPA Exam in New Jersey have had their applications rejected by CPA Examination Services because of confusion over whether they had met the necessary education requirements.

In his first speech in the U.S. as chairman of the International Accounting Standards Board, Hans Hoogervorst made the case for why the U.S. should adopt International Financial Reporting Standards.

IMGCAP(1)]Check out the digital edition of the October 2011 issue of Accounting Today.

PricewaterhouseCoopers took back the lead in global revenues from Deloitte Touche Tohmatsu, posting $29.2 billion in annual revenue worldwide.

The Financial Accounting Standards Board’s Not-for-Profit Advisory Committee has recommended a set of fundamental changes in the accounting rules for nonprofit organizations that would require them to explain their finances to donors and other interested parties in greater detail.

The Financial Accounting Foundation’s board of trustees released a proposed plan Tuesday calling for the establishment of a new council that would be able to identify, propose and vote on improvements to U.S. accounting standards specifically for private companies, but the changes would still be subject to ratification by the Financial Accounting Standards Board.