Financial reporting

The National Association of State Boards of Accountancy has advised private companies not to use the American Institute of CPAs’ recently released Financial Reporting Framework for Small and Medium-sized Entities.

The International Integrated Reporting Council has signed a memorandum of understanding with the World Intellectual Capital Initiative to ensure that "intellectual capital" is reflected as a crucial and essential source of an organization's value creation within integrated reporting.

The Financial Accounting Standards Board voted Wednesday to indefinitely defer certain disclosures about investments held by a nonpublic employee benefit plan in its plan sponsor’s own nonpublic equity securities.

The American Institute of CPAs and the Institute of Chartered Accountants in England and Wales are urging the Financial Accounting Standards Board to reconsider two separate elements of FASB’s financial instruments convergence project with the International Accounting Standards Board.

The Financial Accounting Standards Board has endorsed three proposals from the Private Company Council that would simplify the accounting for privately held companies.

The American Institute of CPAs has released its much-anticipated Financial Reporting Framework for Small- and Medium-Sized Entities, which is aimed at providing an alternative reporting option for small businesses that aren’t required to use GAAP.

Bob Moritz, chairman of PricewaterhouseCoopers LLP since July 2009, sat down with Accounting Today on Friday to discuss some of the issues facing the accounting profession and how PwC has been adapting to changes in the economy and accounting, as well as his encounter with Michelle Obama when handing her the envelope for the Academy Awards.

Mergers, manufacturing integrations, and partnerships were abound this week plus my take on what to expect at the upcoming AICPA Tech + Symposium.

The Financial Accounting Standards Board has issued an accounting standards update setting forth a new approach for determining whether a public or private company is an investment company.

Office relocations, surveys, best company to work for and more…

Intacct has signed a partnership with manufacturing software developer Manufacturing Information Systsms(MISys) to deliver a manufacturing system for midsized businesses by integrating the two flagship products.

The Sustainability Accounting Standards Board has signed a memorandum of understanding with the Carbon Disclosure Project to deepen their partnership for advancing corporate disclosure on material sustainability issues.

The IFRS Foundation said Wednesday it has completed the first phase of an effort to assess the state of progress on global adoption of International Financial Reporting Standards.

Leslie Seidman, the outgoing chair of the Financial Accounting Standards Board, spoke about her experiences leading the board and its work on the upcoming revenue recognition standard during a sometimes emotional speech Wednesday that will be the last of her term.

The International Federation of Accountants held its seventh annual IFAC Small and Medium Practices Forum on Wednesday, gathering 175 delegates from 33 accounting organizations across 30 countries for the conference in Kampala, Uganda.

Most midmarket ERP software implementations are accomplished with moving off QuickBooks and for the most part, users can plan and execute the transition rapidly. And with the right consultant, the transition can be planned and executed rapidly, but how do you know when it’s time?

Online accounting software maker Xero has partnered with online credit card payment company Stripe, allowing Xero users to integrate Stripe’s system to accept payments.

Sage 100 Fund Accounting has received the first major upgrades to the product since it was sold to Accel-KKR, including mobile access for key tasks, allowing nonprofits and governmental agencies access from a wireless connection

Last August, the American Institute of CPAs released an exposure draft of its updated guidance on the Valuation of Privately Held Company Equity Securities Issued as Compensation.

The Securities and Exchange Commission charged Bellevue, Wash.-based commercial truck manufacturer Paccar, and a subsidiary, with various accounting deficiencies that clouded their financial reporting to investors in the midst of the financial crisis.