Financial reporting

The Federal Accounting Standards Advisory Board has issued an interpretation of some recent standards involving cost provisions among multiple entities who are liable for cleanup costs.

The Governmental Accounting Standards Board has released questions and answers about the recent standard on accounting and financial reporting for leases by state and local governments.

The board wants to give private companies, nonprofits, and certain small public companies extra time to implement new standards on CECL, leases and hedging.

General Electric shares plunged after a prominent whistle-blower working with a short-seller accused the company of masking financial problems.

Both public and private companies are underestimating the challenges of transitioning to the new lease accounting standard, according to a new survey.

In the area of fixed assets and the resultant depreciation there are some major differences between the GAAP rules codified in ASC Topic 360 and the IFRS rules in IAS 16.

Private companies, nonprofits and some smaller public companies will get some extra time to get ready for major accounting standards, under a recent proposal.

Companies have potent tools to quickly improve their financial reporting and make it both faster and more accurate.

The proposed update aims to improve the guidance for both convertible instruments and the derivatives scope exception for contracts in a company’s own equity.

The Financial Accounting Standards Board is aiming to clarify the interaction between two of its earlier standards.