Accounting standards

By the end of this year, as much as $3 trillion in lease liabilities will have landed on the balance sheets of our nation’s public companies.

Beyond the headline changes lurk a number of interesting intricacies.

The Financial Accounting Standards Board voted Wednesday to propose to delay some of its major accounting standards — including credit losses, leases, hedging and long-duration insurance contracts — for private companies, nonprofits and small reporting companies.

The American Institute of CPAs has sent a set of recommendations to the Internal Revenue Service about accounting methods for small-business taxpayers and how to determine whether a taxpayer qualifies as a small business.

Sports Direct International Plc shares headed toward a seven-year low after the U.K. sports-apparel retailer delayed publishing its results as auditors increase their scrutiny of its accounting.

Much of the focus has been on banks and credit unions, but others may be hit by the new standard, too.

The Public Company Accounting Oversight Board released two new documents and a video to provide more information to investors and audit committees about the CAMs requirements.

The American Institute of CPAs’ Auditing Standards Board has released a pair of SASs on ERISA audits and auditor responsibilities.

The Paris-based firm has expanded beyond its Mazars USA base in New York and is partnering with BKD, Dixon Hughes Goodman, Moss Adams, Plante Moran in the U.S. and MNP in Canada.

HSBC Holdings Plc’s auditors cautioned top executives that pressure to meet earnings targets gave managers an incentive to massage their numbers.

The embattled National Rifle Association reported some good news this year: Revenue from membership dues jumped 33 percent last year to $170 million. But that picture may not be as rosy as those numbers suggest.

The Securities and Exchange Commission is paying extra attention to the way public companies are adhering to the new rev rec standard.

The Statement on Standards for Forensic Services No. 1 provides guidance for members providing litigation and investigative services.

International consulting firm Protiviti has released the 15th annual edition of “Internal Auditing Around the World”, providing insights of internal audit leaders on digital initiatives across industries globally.

Accountants can promote their practices and create customized marketing videos, brochures and blog content.

The omnibus exposure draft addresses a variety of issues identified during the implementation and application of different pronouncements.

The Financial Accounting Standards Board has issued an invitation to comment document asking for input from its constituents on the accounting for certain identifiable intangible assets acquired in a business combination and the subsequent accounting for goodwill.

Erik Asgeirsson of CPA.com and Sue Coffey of the Association of International Certified Professional Accountants examine the broader evolution of auditing, and the specifics of the AICPA's Dynamic Audit Solution.

The new rules adjust accounting to an age when viewers are streaming video online and binge watching their favorite series.