Financial reporting

The International Public Sector Accounting Standards Board has released an exposure draft on financial discussion and analysis for public sector entities, proposing minimum required content.

The Governmental Accounting Standards Board has issued two new accounting statements, one covering items previously reported as assets and liabilities, which clarified the appropriate reporting of deferred outflows and inflows of resources, and another statement containing technical corrections to resolve conflicting guidance.

Your firm should be up on these seven new changes to annual reports -- including major changes to disclosure

Accounting firms are beginning to take value pricing more seriously, and some are making the transition from hourly billing

Top 100 Firm Armanino McKenna has created its own marketing and PR agency

Focusing on making the staff you have better takes effort, but makes for more dedicated, more talented emloyees

Managers and partners must take responsibility for keeping staff on board, no matter what time of year it is

Many firms are recognizing the value of developing a niche as a growth vehicle. The question is, what due diligence should firms do before jumping into a niche with both feet, and what new niches or service lines are hitting the radar screen?

The National Association of State Boards of Accountancy has released its annual Candidate Performance Book for Uniform CPA Examination candidates, presenting comprehensive statistical data from all four testing windows of the Uniform CPA exam last year.

Shares in group couponing site Groupon, one of the hottest IPOs of last year, took a nosedive in after-hours trading Friday after the company admitted in its annual report that it would need to revise its revenue and net income for the fourth quarter.

News from accounting firms and associations, including BKR, IGAF Polaris and KPMG

The Financial Accounting Standards Board is making progress on its disclosure framework project, which aims to establish an overarching framework to help the board establish requirements for disclosures in notes to financial statements.

CEOs, CFOs and other senior management accountants have a cautious, yet increasingly positive outlook for the global economy over the next 12 months, according to a new survey.

The New York State Society of CPAs has told the Financial Accounting Standards Board and the International Accounting Standards Board that they need to make changes in their latest set of proposals for changing revenue recognition standards.

A House subcommittee held hearings Wednesday in which they questioned the Public Company Accounting Oversight Board’s recent proposal for mandatory audit firm rotation, along with the PCAOB’s push to make disciplinary proceedings against auditors public.

The Securities and Exchange Commission said Wednesday that the U.S. GAAP 2012 Taxonomy is now available for use in the SEC’s EDGAR online database, along with the Mutual Fund Risk/Return Summary 2012.

Firm News -- March 23

The Financial Accounting Standards Board has added a new item to its agenda to revise the accounting standards for repurchase agreements in response to the problems that led to the collapse of MF Global.

The International Federation of Accountants has published a paper calling for enhanced financial management transparency and accountability in the public sector, especially in the midst of the sovereign debt crisis.

The Financial Accounting Foundation has published a learning guide for the FASB Accounting Standards Codification system to help accountants learn their way around the relatively recent system for organizing U.S. GAAP standards.