Accounting standards

Financial executives are anticipating trouble adjusting to the lease accounting standard that the Financial Accounting Standards Board released in February, as FASB also rolls out its new credit loss standard Thursday.

The Financial Accounting Standards Board issued Thursday its long awaited accounting standards update for credit losses, part of the convergence project on financial instruments that it has been working on with the International Accounting Standards Board for eight years.

The majority of companies admit they are behind on implementing the new revenue recognition standard from the Financial Accounting Standards Board, according to a new survey, despite a delay of the effective date by one year.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has unveiled a proposed update to its 2004 enterprise risk management framework.

South Korea is considering a bill that would allow regulators to oust the CEO of an accounting firm that is found to be negligent in controlling audit quality.

KPMG stepped down as FIFA’s auditing firm as soccer’s world governing body races to clean up a reputation dented by allegations of bribery and corruption.

The trustees of the IFRS Foundation have suggested a number of amendments to its constitution.

The World Gold Council, a market development organization for the gold industry, has some ideas about developing a common accounting framework for gold that could be used by central banks in countries around the world.

The Financial Accounting Standards Board has issued a proposed accounting standards update on gains and losses from the derecognition of nonfinancial assets, clarifying the scope of FASB’s asset derecognition guidance and accounting for partial sales of nonfinancial assets.

Only 9.8 percent of financial and accounting professionals say their companies are prepared to comply with the new lease accounting standards, according to a new survey by Deloitte.

The Federal Accounting Standards Advisory Board is proposing changes in how the federal government accounts for tax expenditures.

Encore: Tax inverters — evaders or avoiders?

Alibaba Group Holding Ltd. said it’s being investigated by the U.S. Securities and Exchange Commission over its accounting practices and whether they violate federal laws.

Baker Tilly Virchow Krause's incoming CEO, Alan Whitman, explains in this video how his firm fits into Baker Tilly's international network.

The Financial Accounting Foundation posted its 2015 Annual Report to its website Thursday.

The leasing standard that the Financial Accounting Standards Board released in February is going to require some extra training for businesses from their accountants and could lead to some re-evaluations of clients’ leasing obligations.

The Financial Accounting Standards Board is proposing to simplify the test for goodwill impairment for public companies and nonprofits similar to recent accommodations it made for private companies.

The head of the International Accounting Standards Board is echoing concerns abroad also voiced by leaders of the U.S. Securities and Exchange Commission about the increasing use of non-GAAP measures in the financial statements of public companies.

The Public Company Accounting Oversight Board is taking another stab at overhauling the auditor’s reporting model.

The Financial Accounting Standards Board has released a new accounting standards update providing “narrow-scope improvements and practical expedients” for the revenue recognition standard that it converged with the International Accounting Standards Board.