Financial reporting

The American Institute of CPAs’ Financial Reporting Executive Committee has submitted a comment letter to the Financial Accounting Standards Board and the International Accounting Standards Board suggesting changes in the latest proposals for lease accounting standards.

Deloitte has launched US GAAP Plus, a new Web site that provides news, publications and project updates about U.S. and international accounting standard setting.

The Institute of Management Accountants has opened a new Competency Crisis microsite and community designed to give a variety of accounting and finance stakeholders, including professionals, students, employers and academics, a forum to discuss the issue of the talent gap in the accounting profession and come up with potential solutions.

International memberships, free tax prep tips and more

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.

The Securities and Exchange Commission has appointed Mark Kronforst as chief accountant of its Division of Corporation Finance.

The accounting profession and employers should work more actively to get accountants ready for finance leadership roles such as CFOs, according to a new study.

The Governmental Accounting Standards Board said Tuesday that it will provide live video webcasting of its in-person public meetings, beginning on October 30 and 31.

The IFRS Foundation Education Initiative said Monday it is publishing free downloadable teaching materials in all the languages of the United Nations, including Arabic, Chinese, English, French, Portuguese, Russian and Spanish.

New presidents, new products; overall the past week was all about the vendors topping the news and as ever I’m pleased to offer my take.

The development of professional organizations for accountants is seen as a key tool for global, regional and national development, according to a new report.

The Financial Accounting Standards Board plans to host a series of public roundtable meetings to gauge feedback on its proposed accounting standards for insurance contracts.

The CFA Institute has released the results of a survey of investor attitudes toward the varying proposals by the Financial Accounting Standards Board and the International Accounting Standards Board for accounting for expected credit losses.

Check out the digital edition of the October 2013 issue of Accounting Today.

Firm News: Oct. 3. 2013

Australia-based Gem Accounts has launched a U.S. version of its midmarket-focused cloud accounting product, with plans to staff a newly opened office in San Francisco.

The Private Company Council voted at a meeting on Tuesday to finalize two alternatives within U.S. GAAP, for accounting for interest rate swaps, and for accounting for goodwill in a business combination for private companies. The two alternatives will now go to the Financial Accounting Standards Board for discussion and possible endorsement.

Thomson Reuters has released a new report on the Internal Revenue Service’s guidance on same-sex marriage in the wake of the Supreme Court striking down section three of the Defense of Marriage Act as unconstitutional.

The Securities and Exchange Commission announced charges against three auditors Tuesday for violating federal securities laws or failing to comply with U.S. auditing standards.

The final two defendants charged in relation to an identity theft scam that used identities stolen from the Los Angeles County Department of Public Social Services to file fraudulent tax returns were sentenced to federal prison Monday.