Accounting standards

RSM International has launched RSM Canada, with 37 partners and nearly 300 professionals in Toronto, with plans to extend its reach across the country.

The American Institute of CPAs’ Auditing Standards Board has released three exposure drafts proposing ways to improve the usefulness of the auditor’s report, in response to recent standards from the Public Company Accounting Oversight Board and the International Auditing and Assurance Standards Board.

The American Institute of CPAs has almost finished the process of providing accounting guidance on industry-specific issues related to the new revenue recognition standard.

The Financial Accounting Standards Board decided during a meeting Wednesday to ease some of the implementation burdens and possible costs of the new lease accounting standard by making several adjustments and offering some practical expedients.

Pace University’s Lubin School of Business held its second annual Pacesetters in Financial Reporting Conference in New York on Tuesday, presenting an award to Microsoft as a 2017 Pacesetter in Financial Reporting.

The companies aim to offer more comprehensive services to their small and midsized business customers.

Three firms share their experiences with client accounting services.

Auditors face a special dilemma when it comes to determining if a client can continue, says Stephen Franciosa.

Relatively few public companies have been telling investors what impact they can expect to see from the revenue recognition accounting standard that takes effect next month, according to a new study from the CFA Institute.

Big Four firms in the United Kingdom should be subject to fines of 10 million pounds ($13.2 million) or more for seriously poor audit work, according to an independent review by the U.K.’s Financial Reporting Council.

New exec promises continued investment in payroll built specifically for accountants.

The Public Company Accounting Oversight Board has approved a reduced budget for fiscal year 2018 of approximately $259.9 million along with a strategic plan for 2017-2021, plus a smaller accounting support fee and staff.

U.S. public companies recorded $28.5 billion in goodwill impairment in 2016, half the $56.9 billion they reported in 2015, according to a new study.

Mark your calendars! The effective date for the FASB and IASB’s new revenue recognition accounting standards (ASC 606 and IFRS 15) is approaching.

The upcoming revenue recognition standard is likely to accelerate the earnings of many software companies, with many developers likely to transition from upfront license sales to subscriptions, according to a new report.

The Financial Accounting Foundation has reappointed James L. Kroeker to a second term as vice chairman of the Financial Accounting Standards Board and appointed Gary R. Buesser, a portfolio manager and financial analyst, as a new FASB member, starting July 1, 2018.

Many businesses are still getting ready for the new revenue recognition and leasing standards, and in some cases that involves changing their technology and processes.

The Securities and Exchange Commission is taking a close look at the trend toward blockchain technology, including the burgeoning investments in bitcoin and initial coin offerings.

Increases in audit fees paid by public companies aren’t necessarily producing better audit quality, according to a new report.

The Governmental Accounting Standards Board proposed guidance Thursday to clarify how to account for a state or local government’s majority equity interest in organizations that stay legally separate after the acquisition, such as a public hospital buying a rehabilitation center that remains legally separate.