Financial reporting

Many consumer industry companies extend credit or hold significant financial assets. If yours is one of them, it’s time to gear up for the current expected credit loss (CECL) accounting standard.

The total amount of goodwill impairment recorded by U.S. public companies reached $78.9 billion in 2018, up a staggering 125 percent from the prior year, according to a new report.

Financial Accounting Standards Board Chairman Russell Golden compared the standard-setting process to the new race car movie, “Ford v Ferrari,” even though he admitted the process usually isn’t so speedy.

Exxon Mobil Corp. won a closely watched securities-fraud trial that delved into its internal accounting for the financial risks of climate change, a striking rejection of New York state’s claim that the company misled investors for years.

The Governmental Accounting Standards Board has proposed implementation guidance with questions and answers to clarify and explain some of GASB’s earlier standards and pronouncements.

The Financial Accounting Standards Board seeks candidates for the role of principal advisor to the chairman and board.

The Center for Audit Quality believes auditors should go beyond financial statements and vet other forms of corporate reporting that typically aren’t audited.

The board issued an ASU Tuesday to tweak its credit losses standard to deal with some of the issues raised by stakeholders.

The Institute of Internal Auditors intends to overhaul its ​Certification in Risk Management Assurance and Internal Audit Practitioner programs next year to meet evolving demands and stay ahead of various risks.

The Financial Accounting Standards Board officially delayed the effective dates of its accounting standards for leases, credit losses, hedging and long-duration insurance contracts by issuing a pair of accounting standards updates.