Accounting standards

The Financial Accounting Standards Board said Monday that the Securities and Exchange Commission has adopted its 2015 GAAP Financial Reporting Taxonomy, which uses XBRL format.

The Financial Accounting Standards Board and the International Accounting Standards Board are considering some changes to their converged revenue recognition standard that could lead to divergence after hearing feedback from the Joint Transition Resource Group that is examining implementation issues.

Special Report

Financial reports that incorporate assumptions aren’t worth a dime for actually reducing uncertainty.

Financial Accounting Foundation president and CEO Terri Polley explains what the organization is trying to achieve with its career initiative.

An organization of Irish accountants has signed an agreement with a Russian accounting organization, to provide education, training, examination, an online certificate in financial reporting and an array of other areas.

Noble Group Ltd. denied inflating the balance-sheet value of contracts as Asia’s biggest commodities trading house published a rebuttal against allegations by Iceberg Research, an anonymous group that’s questioned the company’s accounting methods. Noble’s shares rose.

Financial Accounting Foundation president and CEO Terri Polley explains how the foundation plans to spread the word about what’s taking place in the accounting profession and the organization.

The Financial Accounting Standards Board has voted to issue a proposed accounting standards update to improve the financial statements for not-for-profit organizations and ask for public comments.

FAF president and CEO Terri Polley sheds light on how FASB, GASB and the FAF intend to work together to carry out a solid strategic plan over the next three years.

The Governmental Accounting Standards Board has released finalized guidance on accounting and financial reporting issues related to fair value measurements, primarily applying to investments made by state and local governments.

The Financial Accounting Foundation’s board of trustees is reaching out for comments on how well the Private Company Council has been performing.

Stavros Thomadakis became chair of the International Ethics Standards Board for Accountants in January, leading a board under the auspices of the International Federation of Accountants that oversees a global ethics code for the accounting profession.

The American Institute of CPAs is expressing support for a proposed accounting standards update that would require investment companies that act as “feeder funds” for other investment companies to provide better disclosures of those investments on their financial statements.

The post credit crisis regulatory focus on forward-looking techniques and loan behavior models has been burdensome for some banks.

The Governmental Accounting Standards Board reminded its stakeholders Friday that the deadline is coming up on March 6 for comments on its proposed changes in standards for fiduciary responsibilities and lease accounting.

The Financial Accounting Standards Board has issued an accounting standards update to improve specific areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations and securitization structures.

The Private Company Council, a sister organization of the Financial Accounting Standards Board that represents the interests of privately held companies, has expressed major concerns about FASB’s project on the balance sheet classification of debt.

The American Institute of CPAs’ Conflict Minerals Task Force has developed two new Q&A documents on conflict mineral disclosures mandated under the Dodd-Frank Act.

The Financial Accounting Standards Board and the International Accounting Standards Board have been holding a series of meetings of their Joint Transition Resource Group as they prepare for implementation of their converged standard on revenue recognition.