Accounting standards

Ernst & Young reported a 9 percent increase in global revenue to $29.6 billion for the fiscal year ending June 30, 2016, the sixth straight year of growth.

The Financial Reporting Executive Committee of the American Institute of CPAs has issued seven working drafts covering issues related to revenue recognition.

The Center for Audit Quality published two new member alerts to help public company auditing firms quickly and proactively address potential risks.

A group of advocacy organizations is urging the Financial Accounting Standards Board to require multinational companies to disclose more information about their taxes.

The Financial Accounting Standards Board has issued a proposed accounting standards update for improving the financial reporting for long-term insurance contracts, including life insurance, disability income, long-term care and annuities.

The Financial Accounting Standards Board’s recent set of proposed technical corrections to its revenue recognition standard are a sign that more companies are getting serious about implementing them.

Companies are beginning to revamp their financial reports to incorporate sustainability disclosures in response to demand from investors.

The American Institute of CPAs’ Accounting and Review Services Committee has finished the last of the standards it has been redrafting and clarifying as part of the AICPA’s Clarity Project.

The Governmental Accounting Standards Board proposed guidance Monday to address a broad set of accounting and financial reporting issues to help state and local governments deal with the implementation and application of certain GASB pronouncements.

The Financial Accounting Standards Board has proposed to amend the amortization period for callable debt securities that are purchased at a premium.

FASB’s invitation to comment and the duh-preciation elephant

Three former Tesco Plc executives will plead not guilty to allegations of accounting fraud, their lawyers said as the men appeared in a London court for the first time since being charged.

Lee Klumpp of BDO USA talks in this video about what FASB plans to tackle in the next phase of development of the nonprofit accounting standards.

Lee Klumpp of BDO USA discusses in this video how FASB's new accounting standards for not-for-profit organizations will change how nonprofits disclose investment returns and expenses.

The Financial Accounting Standards Board has proposed a set of technical corrections and improvements to its revenue recognition accounting standard.

Lee Klumpp of BDO USA explains in this video how FASB's new nonprofit accounting standards will change how not-for-profits address liquidity.

Lee Klumpp of BDO USA’s Nonprofit Institute for Excellence explains in this video how FASB’s new not-for-profit accounting standards will change how nonprofits classify net assets on their balance sheets.

Three former Tesco Plc executives were charged with fraud and false accounting by the U.K. Serious Fraud Office, after a multi-million dollar shortfall discovered two years ago led to a criminal investigation of the grocer’s finances.

The International Federation of Accountants wants accountant organizations to partner together more widely and share their success stories and best practices.

The Financial Accounting Standards Board proposed improvements Thursday in the accounting guidance for hedging activities.