Financial reporting

While Southeast accounting firm Elliott Davis scored first in four categories of university and employer ranking Web site Vault.com’s Accounting Quality of Life Rankings for 2012, accounting firms shared the wealth in the other 11 categories.

Big Four firm KPMG LLP has agreed to acquire Optimum Solutions, an Oracle Platinum Partner that provides management consulting and implementation services for organizations using Oracle Corp.’s enterprise software.

A total of 33 state CPA societies representing over 275,000 CPAs have written letters so far to the Financial Accounting Foundation or passed resolutions urging the FAF to create a new accounting standard-setting board for privately held companies, according to the American Institute of CPAs.

Small and midsized enterprises are placing greater emphasis on sustainability strategy in tandem with their accounting, according to a new report.

Vault.com has ranked Grant Thornton as the top accounting firm to work for in the employment site’s second annual rankings.

The Private Company Financial Reporting Committee discussed proposed accounting standards for revenue recognition, leasing and investment properties during a meeting with members of the Financial Accounting Standards Board.

The Governmental Accounting Standards Board has extended the deadline until October 14 for constituents to comment on its recent proposals for improving the disclosures for pension accounting and financial reporting.

Deloitte Touche Tohmatsu global CEO Barry Salzberg led his firm to record revenues of $28.8 billion this past year.

The American Institute of CPAs has stepped up its campaign to dislodge control of private accounting standard-setting from the Financial Accounting Standards Board.

The Financial Accounting Standards Board has released a new Accounting Standards Update aimed at improving employer disclosures for multiple-employer pension plans.

The International Federation of Accountants has begun an executive search for a CEO to succeed incumbent Ian Ball, whose contract expires in February 2013 and who is not seeking another term.

Financial Accounting Standards Board chair Leslie Seidman said that many of the priority projects slated for convergence with the International Accounting Standards Board probably will not be settled until next year at the earliest.

Financial Accounting Standards Board chair Leslie Seidman argued Tuesday that the board has been increasing its outreach to private company accountants as FASB awaits a report from the trustees of its parent organization on whether oversight of private company accounting standards should be handed to a separate board.

The Financial Accounting Standards Board has finalized a new standard aimed at simplifying how organizations test goodwill for impairment.

IMGCAP(1)]This year the SSAE 16 assessment standard will replace the SAS 70 audit standard.

A trustee working group at the Financial Accounting Foundation plans to release its proposals in the next few weeks for changing the structure and process of the Financial Accounting Standards Board’s oversight of standards for private companies and nonprofits.

As part of our Top 100 Most Influential People in Accounting report, we asked the candidates how likely they thought it would be that we will see separate accounting standards for private and public companies in the U.S. in the near future, and if they thought it likely, what form they thought it would take.

As part of our Top 100 Most Influential People in Accounting report, we asked the candidates: "What is the most important issue currently facing the accounting profession?"

IMGCAP(1)]Our annual list of the thought leaders and change-makers who are shaping the future of the profession.