Financial reporting

U.S. and Hong Kong accounting organizations have inked a five-year mutual recognition agreement that would allow reciprocity between U.S. and Hong Kong CPAs.

More than half of global businesses are unaware of pending lease accounting changes that would virtually eliminate the use of off-balance sheet leases, according to a new survey by Grant Thornton.

Financial Accounting Standards Board chair Leslie Seidman gave a cautious thumbs-up to the so-called “condorsement” approach to incorporation of International Financial Reporting Standards in the U.S., while defending FASB’s authority over private company accounting standards.

The National Association of State Boards of Accountancy has launched a new Web site, CPAverify.org, that provides a central database of state licensee information about CPAs practicing across the U.S.

New information made public by the U.S. Federal Election Commission reveals that members of the accounting profession are opening their checkbooks early and often in an effort to help candidates in the 2012 Presidential elections.

Unlike Texas Governor Rick Perry, I personally do not spend time mulling over the immigration status of Mitt Romney's lawn care crew.

The Financial Accounting Standards Board has released two proposed accounting standards updates to clarify the criteria for investment company accounting and develop guidance for investment property accounting.

Unlike Texas Governor Rick Perry, I personally do spend time mulling over the immigration status of Mitt Romney's lawn care crew.

CPA2Biz, the American Institute of CPAs’ business unit, will be introducing e-reader publications, a mobile site and mobile apps.

The American Institute of CPAs said the Canadian Institute of Chartered Accountants and CMA Canada are in talks about creating a unique CPA designation in Canada and combining it with their CA and CMA designations.

The American Institute of CPAs passed a resolution Tuesday at its Fall Meeting of Council that would give its board of directors the ability to consider the option of creating a separate committee or board to develop accounting standards for private companies.

CPA2Biz, the marketing arm of the American Institute of CPAs, will offer a CPA-branded email service, CPA.com, for AICPA members this fall, with the goal of offering the profession an alternative to consumer-oriented email services.

The American Institute of CPAs presented the results of a research project forecasting where the accounting profession will be in 2025.

The American Institute of CPAs and the Chartered Institute of Management Accountants intend to officially launch their new Chartered Global Management Accountant credential on January 31.

The American Institute of CPAs has launched a new letter-writing campaign aimed at pressuring the Financial Accounting Foundation to set up a separate standard-setting board for private company accounting.

The American Institute of CPAs has released a new white paper addressing the fair value measurement of financial assets and liabilities, for which there is no market.

The Institute of Certified Management Accountants, the certification division of the Institute for Management Accountants, launched the new simplified Chinese language version of its two-part Certified Management Accountant exam.

Chief financial officers and investors have increased their support for global accounting standards since the start of the economic crisis in 2008, according to an international survey published Thursday by the global Association of Chartered Certified Accountants.

The Public Company Accounting Oversight Board announced Thursday that it had permanently barred a Denver-based audit partner and permanently revoked the registration of a registered public accounting firm because the audit partner had participated in audits while subject to a previous bar.

The Internal Revenue Service has sent out an advisory to tax preparers and tax firms that do not have Electronic Filing Identification Numbers to obtain EFINs in order to meet the 2012 e-file mandate.