Accounting standards

The primary U.S. standard-setters and their parent organization have released a strategic plan to articulate the long-range vision and mission of each of the groups and the organization collectively.

The International Auditing and Assurance Standards Board has released a revised International Standard on Auditing that encourages auditors to thoroughly read through a company’s annual report when auditing, as it provides critical information to the auditor and is ultimately beneficial to the public interest.

The Financial Accounting Standards Board appears to be poised to delay the effective date of its new revenue recognition standard by a year, giving U.S. companies more opportunity to adapt to the changes.

The Financial Accounting Standards Board has issued an accounting standards update on simplifying the presentation of debt issuance costs.

Billy M. Atkinson, the chairman of the Private Company Council that helps set accounting standards for privately held companies, said Wednesday that he will not seek a second term as head of the group after his current term expires at the end of this year.

The Public Company Accounting Oversight Board has sanctioned five current and former partners and employees of the auditing firms L.L. Bradford & Company, LLC in Las Vegas and Samyn & Martin in Kansas City, Mo., for violating PCAOB requirements for auditor independence, audit partner rotation, and audit planning and performance.

Toshiba Corp. fell the most in more than a year after the company said it would appoint a committee to investigate possible problems with its accounting.

The Financial Accounting Standards Board is planning to propose two new projects as part of its initiative to simplify accounting standards, along with two new projects for FASB’s Emerging Issues Task Force.

The Financial Accounting Standards Board has voted to propose to defer the effective date of the new revenue recognition standard by one year after hearing feedback from constituents.

You manage what gets measured: Penny-wise but pound-foolish financial reporting

The Public Company Accounting Oversight Board has approved the reorganization of its auditing standards to help users navigate the standards more easily.

Kara Stein, a commissioner with the Securities and Exchange Commission, appeared to reject the need for convergence with International Financial Reporting Standards in a speech last week.

The Financial Accounting Standards Board is getting ready to unveil a set of proposals that could have a major impact on the way nonprofit organizations present their financial statements.

The Public Company Accounting Oversight Board has scheduled a meeting for next Tuesday where it will vote on adopting a reorganization of auditing standards.

The Sustainability Accounting Standards Board has released a set of provisional sustainability accounting standards for “resource transformation” industries such as aerospace and chemicals.

Payroll: Cash Machine?

The International Accounting Standards Board issued an overview of its upcoming lease accounting standard Monday, saying it plans to complete its deliberations on the long-awaited standard this month and to issue the standard later this year.

While the major international accounting firms no longer do business in Iran, the country’s own accounting firms have been faring well, according to a new report.

Financial Accounting Foundation president and CEO Terri Polley sits down with Accounting Today managing editor Tamika Cody to share how the foundation plans to attract more people of color to the profession and why the FAF teamed up with the National Association of Black Accountants.

Compensation for management accounting and finance professionals rose by an average of 7.1 percent last year, according to a new survey, but some specialties received raises while others saw their salaries remain stagnant.