Accounting standards

The Financial Accounting Standards Board has released its long-awaited hedging standard, the final component of its financial instruments convergence project with the International Accounting Standards Board.

The board is seeking comment on a proposed Accounting Standards Update

The Big Four firm has agreed to an inquiry by the South African Institute of Chartered Accountants.

The Financial Accounting Standards Board voted Thursday to add three more projects to its technical agenda in the areas of liabilities and equity, financial performance reporting, and segment reporting.

The revenue recognition standard that takes effect in December for public companies could pose challenges for technology businesses, particularly those relying on traditional subscription licenses, and many companies aren’t ready for the impact on their financials.

As global companies implicated in a graft scandal in South Africa scramble to contain the damage to their reputations, politicians and law enforcement agencies are prevaricating and stalling official investigations.

The offering debuts on the first day the new rule under NACHA comes into effect.

KPMG LLP said the head of its South African office and seven other senior executives quit after an internal investigation found that work done for the politically connected Gupta family fell “considerably short” of the auditing firm’s standards.

The realities of adding financial services to your accounting practice

The realities of adding financial services to your accounting practice

Deloitte saw its global annual revenue reach $38.8 billion in the fiscal year ended May 31, 2017, a $2 billion increase over the prior year.

The Financial Accounting Standards Board has created a new web page to help companies implement its new standards.

A recent accounting standards update helps entities evaluate whether transactions should be accounted for as acquisitions or disposals of assets or as businesses.

More than three-quarters of directors at public companies polled by BDO USA expect a tax overhaul to be achieved before the end of Trump’s term in office, but only 22 percent anticipate it will happen before the end of this year.

The International Ethics Standards Board for Accountants is suggesting a set of changes prohibiting inducements.

The Financial Accounting Standards Board proposed a GAAP Financial Reporting Taxonomy and, for IFRS filers, a Shared Reporting Taxonomy on Tuesday, asking for public comments on the files.

Ernst & Young experienced strong global revenue growth in the fiscal year ending June 30, 2017, increasing 7.8 percent on a local currency basis since the previous fiscal year, reaching a total of $31.4 billion for its member firms around the world.

The American Institute of CPAs’ Accounting and Review Services Committee has published an exposure draft of a proposed standard on procedures for attestation engagements, while its Financial Reporting Executive Committee has issued working drafts of some of its industry-specific guidance for various industries.

How TFC Consulting evolved into a top government-contracting firm.

The revenue recognition standard that takes effect next year could help health care providers and regulators identify instances of Medicare and Medicaid fraud by subjecting their financial statements to new scrutiny, although in some ways the new rules could also spur some forms of fraud.