Accounting standards

The Governmental Accounting Standards Board published accounting and financial reporting guidance on subscription-based information technology arrangements.

International Federation of Accountants CEO Kevin Dancey talks about how accounting organizations around the world are dealing with the coronavirus pandemic and working with each other to solve problems and share resources.

The pandemic and the new accounting standard are leading to lower regulatory capital ratios at global investment banks, according to a new report.

The Financial Accounting Standards Board released an accounting standards update providing a one-year effective date delay for private companies and organizations to apply the revenue recognition and leases standards due to COVID-19, although they still have the option to apply the standards early.

Defunct U.K. contractor Carillion Plc won’t be able to get key KPMG documents to prepare for a 250 million-pound ($314 million) negligence lawsuit against the accounting firm.

The Financial Accounting Standards Board has appointed Hillary H. Salo, a partner at KPMG, as its new technical director and chair of the Emerging Issues Task Force.

The International Auditing and Assurance Standards Board released guidance for auditors to consider when issuing audit reports amid the COVID-19 pandemic.

South Korean prosecutors have summoned Samsung Electronics Co. Vice Chairman Jay Y. Lee for questioning in an ongoing investigation into alleged accounting fraud and a controversial 2015 merger of two Samsung affiliates, dealing another legal blow to the country’s largest corporation.

As state finances across America are upended by the coronavirus, almost all of them face the same, self-imposed, problem: how to balance their budgets.

The Senate overwhelmingly approved legislation Wednesday that could lead to Chinese companies such as Alibaba Group Holding Ltd. and Baidu Inc. being barred from listing on U.S. stock exchanges amid increasingly tense relations between the world’s two largest economies.

The board voted Wednesday to give private companies and not-for-profit organizations an extra year to comply with the revenue recognition and leases standards.

Europe’s top markets watchdog is warning companies against getting creative with financial statements that obscure the effect of the coronavirus pandemic on their bottom line.

The founder of U.K. discount retailer Matalan Plc is suing PricewaterhouseCoopers over claims he lost as much as 135 million pounds ($165 million) by relying on advice the accounting firm gave him when he moved to Monaco 20 years ago.

Members of the American Accounting Association's Financial Reporting Policy Committee denounce provisions in the CARES Act they see as threatening FASB’s independence and setting a dangerous precedent with serious potential to undermine confidence in corporate financial reporting.

China’s securities regulator blacklisted six executives for their role in a $4.2 billion accounting scandal at Kangmei Pharmaceutical Co., one of the country’s biggest drugmakers.

The Financial Accounting Foundation’s board of trustees is changing the process for assessing the effectiveness of standards.

The president acknowledged the move could prompt Chinese companies to move off of the NYSE and Nasdaq.

As the world grapples with the escalating impact of the pandemic, a stark realization is now sweeping over accounting and finance teams — they’re the ones who have to figure out how countless uncertainties fit into their reporting and GAAP.

As businesses and employers make the sudden shift to agile working from home, how does this change their approach to maintaining their accounts?