Accounting standards

The 50 states have accumulated a combined $1.5 trillion in debt related to pension and other post-employment benefits, while elected officials claimed balanced budgets.

Payroll processors are anticipating closer scrutiny after a high-profile scandal.

Jody Grunden of Summit CPAs describes how his firm found success in outsourced services with a virtual model.

13 Democratic senators want more country-by-country information from companies.

Input on the initial invitation to comment is due by October 7.

The Hong Kong Institute of Certified Public Accountants signed a Statement of Protocol on oversight arrangements with the Financial Reporting Council, a regulatory body for audit firms in the United Kingdom

The Governmental Accounting Standards Board proposed accounting and financial reporting guidance for state and local governments to help them transition away from the London Interbank Offered Rate to newer reference rates.

Accounting firms that provide both audit and non-audit services offer positive benefits in the market, according to a new study from a trio of international accounting organizations.

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.

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

Four recent actions gave me insights into the changing business models of the accounting business.

The new standard promises to give accountants a leg up in providing litigation support services.

To ensure entities have reliable and proper historical data accumulated when they implement CECL, they should start start cleaning up their data.

A rule requiring audit firms to disclose the names of engagement partners who participated in an audit may not be having much of an impact on audit quality.

The initial batch of audit reports for large accelerated filers describing critical audit matters don’t necessarily provide a whole lot of illuminating information.

Only 26.3 percent of public company execs say their implementation of the lease accounting standard is complete, according to a new survey by Deloitte.

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.

The board is amending its guidance for determining whether debt should be classified as a current or noncurrent liability in a classified balance sheet, in response to input from private companies.

The deadline is approaching soon for many businesses to file their reports on unclaimed property, and now they might want to include lost bitcoins and forgotten cryptocurrency passwords.

Pilot tests at public companies suggest the new reporting requirements may take more time than expected.