Financial reporting

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A roundup of assurance-related news

FASB's proposed lease accounting rules really do try to get more useful information about assets and liabilities into financial statements. However, we don't think it's strong enough, because it doesn't cleanly address the No. 1 priority issue that asks whether off-balance-sheet financing has any legitimacy in financial reporting.

The Financial Accounting Standards Board and the International Accounting Standards Board are revealing further details about their long-stalled plans for creating a Disclosure Framework to help accountants decide on which notes to include with financial statements.

Allen M. Abrams, co-founder of the Chicago-based accounting firm Ostrow Reisin Berk & Abrams, Ltd., has died after a brief illness at the age of 81, on Oct. 27, 2013, his firm announced.

Russell Golden, the recently appointed chairman of the Financial Accounting Standards Board, discussed the road ahead for FASB after the board marked its 40th anniversary earlier this year as it continues its efforts to reach a consensus with the International Accounting Standards Board on their remaining convergence projects.

After dropping in September, the accounting profession’s expectations for economic growth rebounded this month, according to the October edition of Accounting Today’s monthly Accountants Confidence Index.

PricewaterhouseCoopers and Booz & Co. have signed a conditional agreement to merge, increasing the Big Four firm's presence in the consulting business.

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Congress, not the Internal Revenue Service, is to blame for the recently announced postponement of the beginning of next year’s tax season, according to the National Association of CPA Practitioners -- and it called on the legislative branch to take quick action to prevent further delays.

The American Institute of CPAs’ Accounting and Review Services Committee has issued an exposure draft proposing three new and revised standards that would make significant changes in how accountants perform compilation engagements.

The American Institute of CPAs has faced a hectic year dealing with problems like the last-minute fiscal cliff deal that delayed tax season, along with the after-effects of Superstorm Sandy and the impact of changes at the Internal Revenue Service that made life difficult for many tax practitioners.

Accounting Today named the Best Firms to Work For 2013 during its annual Growth & Profitability Summit on Monday.

Accounting Today began its annual three-day Growth & Profitability Summit in Orlando, Fla., on Sunday with a pair of insightful keynote speeches by Krista McMasters, CEO of McMasters Consulting and former CEO of top-ranked CPA firm Clifton Gunderson, and Jay Nisberg, president of the consulting firm Jay Nisberg & Associates, with both speakers highlighting the changing dynamics of managing an accounting firm and CPA practice.

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The International Federation of Accountants has issued a policy paper that stresses the importance of reporting on broad-based information beyond what is traditionally included in financial reporting.

There was lots of vendor and consultant news over the past week, but overall we want to know what’s up with all the funding going into cloud accounting software, and where exactly does Intuit factor in?

The career outlook for women in finance and accounting has improved in the last 10 years, according to a new survey of CFOs by the staffing company Robert Half.