Financial reporting

Businesses are taking time adjusting to the new revenue recognition and lease accounting rules.

The first step is to admit there’s a problem.

Accountants serving U.S. banks and credit unions are bracing for the impact that the current expected credit loss model may have on the institutions’ allowance for loan and lease losses and capital levels, and these institutions are enacting transition plans now.

The new leasing rules will be hitting corporate balance sheets soon.

The litigation reached unprecedented heights last year, although the total settlement value declined significantly, according to a new report.

The CFA Institute has some advice for investors about the main questions they should be asking about the new revenue recognition standard.

Vague disclosures by public companies about how much they’re paying in taxes don’t appear to be deterring investors, according to a new study.

The new method would provide an alternative to the modified retrospective transition method.

Biotech, pharmaceutical, medical device and related businesses are dealing with recent accounting standards, plus a new tax law, amid a changing landscape for their industry.

Larry Smith, who served as a member of the Financial Accounting Standards Board from 2007 until 2017, is watching some of the standards he worked on for a decade now being rolled out, but he believes the board should be doing more on performance reporting and the FASB Accounting Standards Codification.

The Center for Audit Quality has released a publication to help audit committees oversee their companies’ implementation of the new leasing standard.

The Governmental Accounting Standards Board released a new statement spelling out which liabilities should be disclosed related to debt.

Ken Crutchfield, vice president and general manager of Bloomberg Tax Technology, discusses the changes in the leasing standard that accountants and their clients need to prepare for this year.

The International Accounting Standards Board is changing the underpinnings of International Financial Reporting Standards.

The Internal Revenue Service may be changing Schedule UTP, the Uncertain Tax Position Statement, which corporate taxpayers file with their Form 1120 tax returns, because it doesn’t contain enough information to be useful in compliance efforts, according to a new report.

Businesses that were early adopters of the new rules have been running into some issues with regulators and investors.

FASB's recent move to make implementation easier isn't persuading accountants it will save them any time or effort.

The Securities and Exchange Commission has accepted the latest sets of XBRL tags for financial filing.

The International Financial Reporting Standards Foundation has released a new set of data tags, while the Securities and Exchange Commission also renewed its files.

The Center for Audit Quailty has released a new publication offering considerations for audit committee members to help with oversight of non-GAAP measures.