Accounting standards

All eyes will be on the large SEC registrants in January as they become the first financial institutions to adopt the current expected credit loss model, or CECL.

The reporting requirements will be in effect for government entities beginning Dec. 15 for all reporting periods subsequent to that date.

The two proposals would offer guidance on implementing the Financial Accounting Standards Board’s new standards for long-duration insurance contracts and credit losses.

The Securities and Exchange Commission is proposing a set of amendments to the auditor independence rules that have been in place since the early 2000s, allowing firms more leeway in determining conflicts of interest and shortening the lookback period for clients planning to go public.

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 International Accounting and Assurance Standards Board has released a revised standard for identifying and assessing the risks of material misstatements.

The Public Interest Committee, which oversees the standard-setting activities of the International Public Sector Accounting Standards Board, has initiated a public survey on the governance arrangements at the IPSASB to gauge perceptions of the standard-setting group’s oversight.

The Public Company Accounting Oversight Board has released a document providing information from its conversations with nearly 400 chairs of audit committees.

The Public Company Accounting Oversight Board has issued a concept release proposing a new approach to changing its quality control standards, the biggest change since 2003.

A recent survey shows that small businesses are not just open to their accountants handling payroll for them, but 38 percent expect it.

ASU 2019-12 aims to simplify Topic 740 in GAAP.

FASB’s delay of the effective date of ASC 842 for private companies is a gift to businesses struggling to get the new lease standard right.

Technology is ready to disrupt this core service of the profession, and that's going to require a serious response from auditors, according to Alan Anderson of Accountability Plus.

The Big Four firm is seeing growth across geographic regions and service areas.

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.

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 Public Company Accounting Oversight Board is planning to issue a concept release on revisions in quality control standards while making extensive changes in its inspections and audit reports.

Candidates for the council of the local CPA institute are being judged on their positions in city-wide political debates.

The Financial Accounting Standards Board seeks candidates for the role of principal advisor to the chairman and board.