Financial reporting

The New York State Society of CPAs has elected Joseph M. Falbo Jr. of Grand Island, N.Y., as president-elect.

The Financial Accounting Standards Board has issued a new accounting standards update for stock compensation.

The Indiana CPA Society has established a CPA Center of Excellence to better prepare CPAs for the challenges of the future.

Ohio is the first state in the nation to allow continuing professional education in 10-minute increments for CPAs.

The new converged revenue recognition standard from the Financial Accounting Standards Board and the International Accounting Standards Board could have an impact on not only financial statement preparers, but on tax practitioners and auditors as well.

The Governmental Accounting Standards Board has published two proposed statements to improve financial reporting by state and local governments of other post-employment benefits, such as retiree health insurance.

Doeren Mayhew spins off its investment banking practice into a new investment bank, P&N Tech forms a new partnership, and more…

The average accounting firm is spending less on its marketing than it should, according to a recent survey.

The CPA brand remains “incredibly strong,” according to American Institute of CPAs president and CEO Barry Melancon, but the profession still faces challenges.

The Financial Accounting Standards Board has released a new accounting standard to address some of the problems with financial reporting on repurchase agreements, such as those that contributed to the demise of MF Global.

The Financial Accounting Standards Board has added two short-term projects to its agenda to simplify U.S. GAAP as part of its initiative to reduce complexity in accounting standards.

After several months of decline, accountants’ confidence in the prospects for economic growth saw a sharp uptick, according to the June edition of Accounting Today’s Accountants Confidence Index.

The Financial Accounting Standards Board issued an accounting standards update Tuesday to improve financial reporting for development-stage entities, eliminating the inception-to-date information and differences in consolidation guidance.

Christopher Cox, the former Securities and Exchange Commission chairman whose support for converging International Financial Reporting Standards with U.S. GAAP was crucial in setting up a “roadmap” for harmonizing the two sets of accounting standards, has reversed course.

RootWorks LLC has announced an expansion of its continuing education programming for the accounting profession with the opening of a new state-of-the-art learning center located in the PNC Center in Indianapolis.

While firms that are pioneers in adopting technology outpace their peers in other ways, too, accountants don’t necessarily need to be on the cutting edge in all things to grow.

Bloomberg BNA has released “Navigating the New Road to Revenue Recognition,” a detailed overview of the new revenue recognition standard, along with guidance on how companies can prepare for its application.

Thomson Reuters has released a special report on the newly issued accounting standard on revenue recognition from the Financial Accounting Standards Board and the International Accounting Standards Board.

Check out the digital edition of the June 2014 issue of Accounting Today.

The Financial Accounting Standards Board and the International Accounting Standards Board officially announced the formation Tuesday of a Joint Transition Resource Group for Revenue Recognition.