Accounting standards

The Financial Accounting Standards Board’s new lease accounting standard could have some positive payoffs for companies if they take a careful approach to implementing it.

Two professors argue that financial reporting and accounting standards are increasingly irrelevant.

Bloomberg BNA has published a special report to help accountants prepare for the Financial Accounting Standards Board’s new leasing standard.

Not everyone is hailing the Financial Accounting Standards Board’s new lease accounting standard, including one FASB member who voted against the standard, and a key investor group that has also expressed qualms.

Financial reporting economics: It’s a good idea to supply what’s demanded

High tax rates and cybersecurity are among the most pressing concerns of CFOs at technology companies, according to a new survey by BDO USA.

The Equipment Leasing and Finance Association, a trade association that represents companies in the equipment finance sector, had been pushing back against some of the earlier versions of the new lease accounting standard that were proposed in recent years, but it is satisfied with the final standard.

Now that the Financial Accounting Standards Board has released its long-awaited lease accounting standard, companies and their accountants will need to get ready to put their operating leases on the balance sheet.

The Financial Accounting Standards Board issued its long-awaited lease accounting standard Thursday, one of the major convergence projects on which it has collaborated for a decade with the International Accounting Standards Board.

The Financial Accounting Standards Board is expected to release its long-awaited lease accounting standard Thursday.

A post-implementation review of the Financial Accounting Standards Board’s 1997 standard on earnings per share found the standard generally achieved its purpose.

Christine Ann Botosan, an accounting professor at the University of Utah’s David Eccles School of Business and a former president of the American Accounting Association, has been appointed as the newest member of the Financial Accounting Standards Board.

The Financial Accounting Standards Board is expected to release its long-awaited lease accounting standard this quarter, and companies are bracing for the impact on their balance sheets.

The International Public Sector Accounting Standards Board has released for comment an exposure draft amending the standards for public sector entities under the cash basis of accounting.

The International Ethics Standards Board for Accountants has released for public comment an updated exposure draft on a standard for addressing how audit firm personnel should act toward an audit or assurance client who has a long association with the firm.

Hans Hoogervorst has been re-appointed as chairman of the International Accounting Standards Board for a second five-year term, but his vice-chairman, Ian Mackintosh will not be seeking a second term.

The Governmental Accounting Standards Board issued a guidance Thursday to provide clarity about how certain component units incorporated as not-for-profit corporations should be presented in the financial statements of the primary state or local government.

Morison International and KS International have merged to form a $1 billion international association of accounting and professional services firms to be known as Morison KSi.

The Governmental Accounting Standards Board has issued a proposal to establish a single approach for state and local governments to report leases based on the principle that leases are financings of the right to use an underlying asset.

A group of community bankers from the Independent Community Bankers of America met last week with the Financial Accounting Standards Board to discuss their concerns with FASB’s upcoming impairment standard on credit losses.