Financial reporting

Mark Frissora will return nearly $2 million in incentive-based compensation to settle a U.S. regulator’s claims that he played a key role in causing the now-bankrupt car-rental company to file inaccurate financial statements in 2013.

Post-implementation reviews enable FASB to identify and deal with any areas for improvement stemming from either adoption or implementation of a standard.

The update promises to improve financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity.

The Financial Accounting Standards Board has released a new guide to a feature of Extensible Business Reporting Language known as extensible lists.

The Governmental Accounting Standards Board is proposing a set of improvements in how state and local governments report on their financial condition.

Under Armour Inc. said a pair of top executives, including founder Kevin Plank, has been named in a federal probe of the company’s accounting, sending shares of the athleticwear maker down.

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework that defines 10 elements of financial statements.

Deloitte is helping its corporate clients get ready to prepare their quarterly financial statements in the midst of the novel coronavirus pandemic, as its own employees grow more accustomed to doing remote audits while working from home.

A backlash is growing among regulators and participants against EBITDA — earnings before interest, taxes, depreciation, amortization and coronavirus.

The council has opened a 90-day consultation period on proposed revisions to its International Integrated Reporting Framework, and named Conor Kehoe as its new chair.

The Financial Accounting Standards Board has appointed Hillary H. Salo, a partner at KPMG, as its new technical director and chair of the Emerging Issues Task Force.

The Securities and Exchange Commission voted to add amendments to its rules and forms to improve financial information about acquired or disposed businesses for investors, and decrease the complexity and costs of preparing such disclosures.

Europe’s top markets watchdog is warning companies against getting creative with financial statements that obscure the effect of the coronavirus pandemic on their bottom line.

Members of the American Accounting Association's Financial Reporting Policy Committee denounce provisions in the CARES Act they see as threatening FASB’s independence and setting a dangerous precedent with serious potential to undermine confidence in corporate financial reporting.

China’s securities regulator blacklisted six executives for their role in a $4.2 billion accounting scandal at Kangmei Pharmaceutical Co., one of the country’s biggest drugmakers.

The Financial Accounting Foundation’s board of trustees is changing the process for assessing the effectiveness of standards.

As the world grapples with the escalating impact of the pandemic, a stark realization is now sweeping over accounting and finance teams — they’re the ones who have to figure out how countless uncertainties fit into their reporting and GAAP.

The challenges for corporate reporting after COVID-19

Financial executives are taking a two-phase approach to managing coronavirus issues that face their companies, according to a new survey.

Public companies are dealing with a variety of financial reporting difficulties in the face of the unpredictable COVID-19 pandemic and the impact it’s having on businesses of all sizes.