Financial reporting

The first quarter is quickly coming to an end, and finance teams around the country are busy preparing for questions from the board.

The Financial Accounting Standards Board issued the Current Expected Credit Loss (CECL) accounting standard in 2016. Since then, many questions have been raised about what it requires, particularly by financial services companies.

The Financial Accounting Standards Board made some narrow improvements to different aspects of the financial instruments guidance, including the current expected credit losses standard.

The Securities and Exchange Commission is giving “conditional” regulatory relief from certain filing obligations for public companies due to the outbreak.

In light of this new global challenge, what do these businesses and their tax professionals need to consider?

The first-ever revision of the International Integrated Reporting Framework for integrated reporting is now underway.

The good intentions behind balanced budget requirements in states and cities have been circumvented by the shoddy accounting practices used in the budget process.

A new technical bulletin aims to clarify the loss allowance standards for AR and related recognition standards and reporting.

The board is looking for comment on a proposed concepts statement around the issue.

The International Integrated Reporting Council is asking for feedback on its set of integrated reporting principles, the International Framework, encompassing financial and nonfinancial areas such as sustainability, strategy and governance.