Financial reporting

ARA Holdings Inc. is settling for a $2 million penalty.

The Federal Accounting Standards Advisory Board released an interpretation of the accounting rules around reporting debt cancellation for the federal government.

The staff at the Securities and Exchange Commission released guidance Monday for companies about how to properly recognize and disclose compensation costs for “spring-loaded awards” they hand out to executives.

The Financial Accounting Standards Board issued a proposed accounting standards update that would expand the disclosures under its credit losses standard.

More companies have issued financial restatements in the second quarter of 2021 than any year since 2013, driven in part by recent SEC guidance on SPACs.

The ASU requires businesses to disclose information about some types of government assistance they receive within the notes to their financial statements.

The Financial Accounting Standards Board issued an update to simplify the discount rate guidance for lessees that aren’t public companies, including private companies, nonprofits and employee benefit plans.

The accounting standards update would help nonpublic companies that provide equity-classified share-based awards to executives.

Financial professionals are confronting some big obstacles when it comes to environmental, social and governance reporting, according to a new survey, including competing and sometimes conflicting disclosure frameworks, reporting methodologies and stakeholder demands.

Boards, shareholders, and auditors alike will want to know CECL’s impact.

The amendments aim to improve the comparability of financial information from companies with investments in equity securities.

A recent statement on corporate reporting says the global profession needs to start with the 2021 reporting cycle.

The company settled claims that it engaged in an expense-management scheme that resulted in inflated earnings.

Government budgets are prepared with “wild, wild west” accounting rules.

The fitness company warned that a price cut would hurt its bottom line, and that it found a problem with the way it accounts for inventory.

Financial analysis, reporting and controls help lay the foundation for business success.

The board has endorsed a recommendation from its Private Company Council that would align accounting rules with the tax treatment of the awards.

For most businesses, the monthly close is simply too time-consuming.

Together, the two companies hope to accelerate digital transformation for their customers, which during the pandemic became a priority for firms and clients alike.