Accounting Standards
FASB Changes How Business Financial Assets Are Measured
FASB’s objective was to address stakeholder concerns that arose during the 2008-2009 financial crisis regarding the delayed recognition of credit losses. The new model removes the current GAAP threshold that delays the recognition of a credit loss ...
New FASB Update to Enhance Tax Disclosure Requirements
The proposed ASU is part of the FASB’s broader disclosure framework project to improve the effectiveness of disclosures in notes to financial statements by clearly communicating the information that is most important to users of a reporting ...
Report Focuses on New Accounting Model for Leases
Leasing is an important source of financing for many entities in the United States and around the globe. Many entities enter into leasing arrangements to gain access to assets, obtain financing, or reduce exposure to the risks of ownership of an asset.
Most U.S. Companies Lagging On New FASB Revenue Recognition Standard
60 percent of respondents indicated that they are running behind schedule in their overall implementation of the standard, which has an effective date as early as January 1, 2018, for many organizations.
FASB Finalizes Standard for Credit-Loss Accounting
After numerous delays and extensions, the Financial Accounting Standards Board (FASB) issued its long-awaited final standard on accounting for credit losses on Thursday. After meeting with concerned community bankers, auditors and regulators, the ...
The Value of Non-GAAP Measures and Other KPIs
Non-GAAP measures and other key performance indicators (KPI’s) have made headlines recently as more and more companies are including non-GAAP measures in their SEC filings and public communications.
2016 Pocket Guide to IFRS Standards Now Available
80 jurisdictions now require or permit use of the IFRS for SMEs Standard—a self-contained Standard specifically designed for small and medium-sized companies without public accountability—which was first issued in 2009.
Intacct Launches Automated System for New Revenue Recognition Guidelines
Intacct Contract and Revenue Management is a new module for Intacct's cloud ERP solution that fully addresses all the upcoming rules for revenue reallocation and expense amortization—using automation, not spreadsheets and a lot of accountants' time.