Financial reporting

The move to the cloud is allowing users to make more of their data and of the many new intelligent tools that are out there.

Financial institutions are getting ready to begin complying this year with the Financial Accounting Standards Board’s new credit losses standard, which means they will need to start making disclosures about their loan portfolios.

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.

Under Armour Inc. shares plunged after the company disclosed that federal officials have been probing its accounting practices for more than two years, bringing a fresh headache to investors just as the sports brand prepares for a CEO transition.

Public companies reached the deadline for compliance with the new lease accounting rules in January, but their journey is far from over.

The American Institute of CPAs’ Financial Reporting Committee has sent a letter to the Financial Accounting Standards Board questioning the costs and benefits of FASB’s current goodwill impairment model.

The president, under siege from House Democrats weighing impeachment, suffered a stinging blow as a federal appeals court upheld a subpoena ordering his accountants to provide Congress with his financial records.

As FASB considers additional interventions in the way public companies account for goodwill, they would do well to remember one of Hippocrates’ maxims for physicians.

Workiva, which makes reporting and compliance software for accounting, finance, audit, and internal controls, has entered into a partnership with FilePoint, a full-service filing agent.

The clock is ticking on the countdown to the implementation of the new accounting rules for private companies.

Small banks are likely to benefit from the proposed delay, allowing them to learn the lessons from larger banks that have already begun using the new rules.