Accounting standards

Automobile manufacturer Tesla Motors is dropping the use of some non-GAAP financial measures in its earnings releases after receiving several letters from the Securities and Exchange Commission criticizing the practice.

The Public Company Accounting Oversight Board has struck an agreement with Italy’s audit oversight regulator, Commissione Nazionale per le Società e la Borsa.

Debunking myths about market values – Part 1

Vinci SA fell victim to a fake release claiming the French builder had fired its finance chief amid accounting irregularities, prompting the stock to plunge before the company denied the report.

The Financial Accounting Standards Board has released a proposed accounting standards update related to the scope of modification accounting for stock-based compensation.

The International Federation of Accountants has sent a letter to Pope Francis on how the accounting profession can help him with the fight against financial fraud and corruption.

Financial executives are coping with an onrush of new accounting standards that are taking effect in the next few years, along with demands from the Securities and Exchange Commission to temper their companies’ reliance on non-GAAP measures.

A 2009 accounting standard that state and local governments have been using for reporting on their fund balances and fund types has mostly achieved its original purpose, according to a new report.

Public companies in the U.S. recorded $57 billion in goodwill impairment last year, more than double the amount of impairment they recorded the previous year, according to a new study.

The Financial Accounting Foundation's Board of Trustees has voted to restructure several of its own committees, along with oversight of the Private Company Council, disbanding the Private Company Review Committee that has been overseeing it.

Finance executives are getting ready for the incoming Trump administration with a multitude of changes expected on the regulatory side while also dealing with all the new accounting standards rolling out in the next few years.

The Financial Accounting Foundation’s board of trustees has reappointed Russell G. Golden to a second term as chairman of the Financial Accounting Standards Board and named two new members: Marsha L. Hunt, vice president and corporate controller at Cummins Inc., and Harold L. Monk Jr., a partner at the accounting firm Carr, Riggs & Ingram LLC.

The Financial Accounting Standards Board is planning to welcome new board members as the terms of several of its members end next year.

Deloitte LLP and firm partner John Clennett got a record fine in the United Kingdom for misconduct after the U.K.’s accounting regulator said the audit and financial statements of Aero Inventory Plc fell short of acceptable standards.

The Financial Accounting Standards Board has issued a proposed accounting standards update for service concession arrangements, focused on determining the customer of the operation services.

The Financial Accounting Standards Board is refining the role of its Investor Advisory Committee to bring more of an investor perspective to the accounting standard-setting process.

The New York State Society of CPAs has some recommendations for items that the Financial Accounting Standards Board should add to its to-do list.

The American Institute of CPAs’ Financial Reporting Executive Committee is asking for feedback on three new working drafts of guidance for broker-dealers and depository and lending institutions on the Financial Accounting Standards Board’s revenue recognition standard.

The International Accounting Standards Board has released its five-year work plan for International Financial Reporting Standards, with a focus on completing its insurance contracts standard and revising its conceptual framework.