Accounting standards

PricewaterhouseCoopers signed an agreement Wednesday to sell its U.S. Public Sector business to the private equity firm Veritas Capital.

The buy adds incentive management capabilities that help companies comply with the new rev-rec standard.

The Financial Accounting Standards Board is moving forward with a proposed accounting standards update to reclassify the stranded tax effects from the Tax Cuts and Jobs Act of 2017, although at least one investor group has some concerns.

With 2018 upon us and the extraordinary effort we’ve put in to get us past the public company deadline for the new revenue recognition standards, I’d like to highlight three longer-term considerations for companies to keep in mind as they continue to report and operate under the new rules.

India’s tycoon Singh brothers took at least 5 billion rupees ($78 million) out of the publicly traded hospital company they control without board approval about a year ago, people with knowledge of the matter said.

Audit committees at public companies should be aware of some of the accounting implications of the new Tax Cuts and Jobs Act, according to a new report from Ernst & Young.

What is IFRS 16, how will it affect your business and what do you need to do to ensure your leasing arrangements remain compliant?

The new dashboard allows accountants to offer concierge-supported payroll and HR services to their clients.

The fraud trial of three former Tesco Plc executives was halted when one of them, ex-U.K. Chief Financial Officer Carl Rogberg, had a heart attack days before the jury was due to begin deliberations.

The International Public Sector Accounting Standards Board has proposed a new strategy and work plan for 2019 through 2023.

International Federation of Accountants CEO Fayezul Choudhury, and IFAC CFO and executive director for external relations Russell Guthrie, talk about how international financial regulators are mulling changes in how global auditing standards are set.

The Governmental Accounting Standards Board is asking for help as it develops a comprehensive model for revenue and expense recognition for state and local governments.

Professors Paul Miller and Paul Bahnson bid farewell to their column after 20 years.

So long, farewell, auf wiedersehen, goodbye! Profs. Miller and Bahnson are ending their two-decade run.

Nexia International, a network of accounting and consulting firms, reported total fee income of $3.62 billion for 2017, a 13 percent increase over the results across its network for 2016.

The U.K. Financial Reporting Council opened a probe into KPMG LLP’s audits of Carillion Plc, after the builder collapsed under a mountain of debt earlier this month.

The Financial Accounting Standards Board’s Emerging Issues Task Force plans to propose new rules for how to deal with cloud computing service costs.

PricewaterhouseCoopers’ firm in India is appealing a two-year ban on auditing public companies by the Securities Exchange Board of India.

The Financial Accounting Standards Board has issued an accounting standards update to clarify how to apply the new lease accounting standard to land easements, simplifying adoption of the standard for some easements.