Accounting standards

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.

The Financial Accounting Standards Board released its long-awaited hedge accounting standard this week, but companies may want to be careful about adopting it early, or else they could miss out on some one-time benefits.

The Public Company Accounting Oversight Board released a document Wednesday offering information about the main areas its inspectors are looking at during its visits to auditing firms this year.

The Internal Revenue Service has signed a contract with a company called Chainalysis that offers software for analyzing and tracking bitcoin transactions.

The Securities and Exchange Commission has released a staff accounting bulletin to conform its existing staff guidance to the new revenue recognition standard that takes effect for public companies at the end of the year.

The International Public Sector Accounting Standards Board is circulating some proposed revisions to its financial instruments standard for government entities to harmonize it with the International Accounting Standards Board’s financial instruments standard for businesses.

The American Institute of CPAs has sent a letter to the Internal Revenue Service with three recommendations on the accounting method change procedures for business taxpayers.

The U.S. Chamber of Commerce and a group of 27 other major corporations and business trade associations have sent a letter to the Securities and Exchange Commission urging the SEC not to finalize the Public Company Accounting Oversight Board’s proposed changes to audit reports.

The Institute of Management Accountants is partnering with ANEFAC, the National Association of Executives in Finance, Administration and Accounting, to support the international advancement of the management accounting profession in Brazil.

Many software companies, including Microsoft, could see significant changes in their revenue patterns with the rollout of the revenue recognition standard that takes effect at the end of the year, according to a new study.

The International Public Sector Accounting Standards Board is mulling new guidance on how the public sector should account for revenue and non-exchange expense transactions, such as the provision of education, health care and defense, in light of the revenue recognition standard.