Accounting
Latest A&A News – February 2017
Feb. 17, 2017
- FASB to Host Roundtable Meetings on Disclosure Framework: The Financial Accounting Standards Board (FASB) will host two public roundtable meetings to discuss proposals related to its Disclosure Framework project. The meetings will be held on Friday, March 17, 2017, at the FASB offices located at 401 Merritt 7 in Norwalk, Connecticut. www.cpapracticeadvisor.com/12295256
- AICPA Issues New Revenue Recognition Guide: With companies and not-for-profit entities facing a top-to-bottom review of their revenue recognition because of a looming accounting standard, the American Institute of CPAs (AICPA) has issued the first online edition of an Audit & Accounting Guide on Revenue Recognition to assist entities and auditors understand, implement and audit the new rules. http://www.cpapracticeadvisor.com/news/12295613
- CFOs Say Sloppy Work is Biggest Peeve: Want to get on your manager’s good side? Don’t let the details slide. In a new survey by staffing firm Accountemps, more than one-third (35 percent) of CFOs cited lacking attention to detail or sloppy work as the most annoying behavior by coworkers. www.cpapracticeadvisor.com/12293915
- Report Helps Auditors Avoid Common Practice Pitfalls: To help audit professionals navigate the unexpected consequences of audit and attest issues, Thomson Reuters has released a special report, Four Ways to Avoid Audit and Attest Deficiencies. www.cpapracticeadvisor.com/12293158
- The Benefits of SSVS No. 1 for Business Valuations: The AICPA’s Statement on Standards for Valuations Services No. 1, known as SSVS No. 1, outlines how the AICPA expects its members to provide valuations.
- Report Says Top Financial Firms Mislead Consumers, “Posting as Fiduciaries”: Twenty-five top U.S. brokerage firms and insurance companies present their employees as trusted financial advisors putting client interests first even as their lobbyists argue in court that they are nothing more than commission-driven salespeople, according to a major new report from the Consumer Federation of America and Americans for Financial Reform. http://www.cpapracticeadvisor.com/news/12296220