Accounting standards

The Financial Accounting Standards Board’s new standard on accounting for credit losses will require some major changes for banks, particularly smaller ones, as well as many companies that provide loans.

With the solution, CPAs can help companies improve their bottom line by evaluating the effects of benefit plans.

The Public Company Accounting Oversight Board has signed a cooperative agreement with the Irish Auditing and Accounting Supervisory Authority, allowing them to cooperate on joint inspections and oversight of auditing firms subject to of both organizations’ regulatory jurisdiction.

Even as the Trump administration takes a strong line on renegotiating NAFTA, the American Institute of CPAs renewed a mutual recognition agreement with the accounting bodies of Canada and Mexico on Wednesday.

Baker Tilly International has named Timothy Christen as the accounting firm network’s new chairman after he recently completed a term chairing the American Institute of CPAs.

In the second of a series of articles, Profs. Miller and Bahnson explore a new paradigm for corporate reporting.

A prominent investor group is applauding the Securities and Exchange Commission’s approval this week of the Public Company Accounting Oversight Board’s new standard expanding the scope of the audit report.

The deadline is approaching next year for public companies to begin using the new revenue recognition standard, and many not-for-profits may find themselves confronting the new standard a lot sooner than they had expected.

The number of audit deficiencies tied to fair value measurements is still high, but declined for the second year in a row, according to a new analysis of Public Company Accounting Oversight Board inspection reports on auditing firms.

The Securities and Exchange Commission gave its approval Monday to the Public Company Accounting Oversight Board’s new standard for an enhanced audit report.

Economic confidence improved globally in the third quarter of 2017, but continued to fall in the U.S., according to a new survey of accountants.

The new revenue recognition standards are just about ready to go live: Brian Marshall, a partner in the National Accounting Standards Group at RSM US, talks about the challenges they represent.

The recent string of devastating hurricanes and wildfires in the U.S. and its territories has prompted questions about financial reporting by companies striving to recover from natural disasters while wrestling with their insurance companies over damage claims.

Rio Tinto Group’s calamitous $3.7 billion coal deal in Mozambique keeps coming back to haunt the world’s second-biggest miner, three years after it unloaded the mine.

A group of seven Senate Democrats and one independent has written a letter to the Financial Accounting Standards Board asking FASB to require multinational corporations to disclose their taxes, profits, and revenues on a country-by-country basis, echoing a recent letter from a group of House lawmakers.

Companies and their auditors are getting ready for the Public Company Accounting Oversight Board’s new audit reporting model, despite uncertainty over whether the Securities and Exchange Commission will approve the new standard.

The Public Company Accounting Oversight Board will be looking out for some major risk areas at audit firms in the months ahead.

Last quarter, General Electric Co. reported earnings of 28 cents a share. Also 13 cents a share, 19 cents a share and 15 cents a share—all at the same time.