Financial reporting

The Governmental Accounting Standards Board is working on several fronts to offer relief to state and local governments and other stakeholders in the midst of the pandemic, including delaying the effective date of some standards.

The Commission is extending the filing periods covered under its previous reporting relief for companies due to the COV-19 pandemic.

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.

The Financial Reporting Council issued guidance Tuesday about the disclosure of risks surrounding the coronavirus, and is discussing with audit firms whether the virus will affect their ability to review audits in China.

Financial revisions and restatements are indicators of audit quality, but they are far from the only ones.

The Cost Accounting Standards Board, a group set up by Congress in 1970 to make sure federal contractors charge their costs appropriately, is finally making some progress in aligning its 19 cost accounting standards with U.S. GAAP after Congress mandated in 2017 that it do so where practicable.

The Financial Accounting Standards Board proposed an accounting standards update Monday to enhance the transparency of how not-for-profit organizations present and disclose contributed non-financial assets.

What are the benefits and challenges faced by public companies with the new leases standard?

The Securities and Exchange Commission voted to propose amendments to the financial disclosure requirements in Regulation S-K and streamline the Management's Discussion and Analysis disclosures.

The Pentagon made $35 trillion in accounting adjustments last year alone — a total that’s larger than the entire U.S. economy and underscores the Defense Department’s continuing difficulty in balancing its books.

The American Institute of CPAs’ Financial Reporting Executive Committee has proposed several working drafts of its guidance on the long-duration insurance accounting standard for insurance companies.