Financial reporting

The United States has the smallest “shadow economy” of underground trade in goods and services, compared to 28 other countries, according to a new report from the Association of Chartered Certified Accountants.

A group of more than 100 business leaders and companies are backing the recommendations of a task force on providing a voluntary framework for disclosing climate-related information in financial filings.

Many companies are lagging behind on preparations for the new lease accounting standard as they are still working on the revenue recognition standard, according to a pair of new surveys.

The lobbying group for Hollywood’s top studios is auditing China’s box-office figures amid concern that ticket sales have been reported inaccurately, according to a person familiar with the matter.

Few CFOs give themselves high marks for effectiveness, and only a small proportion have the necessary traits to qualify as finance leaders, according to a new report.

The Financial Accounting Standards Board has proposed an accounting standards update to reduce the cost and complexity of financial reporting related to the consolidation of variable interest entities, based on recommendations from FASB’s sister organization, the Private Company Council.

Proxy adviser Glass Lewis & Co. blasted Toshiba Corp.’s board for poor governance amid repeated scandals and recommended investors vote against all directors at the company’s shareholders meeting later this month.

A unit of Booz Allen Hamilton Holding Corp. is the focus of criminal and civil probes by the Justice Department related to how it billed the government for contracting work, the company disclosed in a filing.

Sustainability information is increasingly a part of corporate reporting, but many companies are still relying on boilerplate language in their disclosures, according to a recent report.

As Spotify prepares for an initial public offering, the music-streaming site has flagged a number of errors in its previous results, revealing a significant increase in losses.

Academic research finds that readable financial disclosures help not only investors, but companies as well.

Many businesses are slow-walking to implementing the revenue recognition standard, even as the effective date approaches next year.

The Financial Accounting Standards Board voted Wednesday to proceed to a final standard on hedge accounting, part of the financial instruments project that FASB had been working on for years with the International Accounting Standards Board before the two boards went their separate ways.

Many companies are at risk of falling behind schedule on implementing the revenue recognition standard, according to a new survey by Ernst & Young, and CFOs and CIOs are not in agreement on the reason why.

A regulatory probe into PricewaterhouseCoopers LLP related to Tesco Plc’s accounting scandal was dropped as the Financial Reporting Council said there was little chance of an adverse finding in the case.

A legal mindset may be behind managers' poor financial reporting habits.

Companies should begin to plan now how to incorporate the new standards and update procedures for the Financial Accounting Standards Board’s accounting updates on two significant topics: revenue recognition and lease accounting.

The Big Four firm topped all auditing firms in new engagements.

Many companies may be engaging in revenue management, along with earnings management, to meet or beat analyst expectations, particularly in the technology and health care industries, according to a new study.

A pair of accounting professors has written a paper proposing a way to communicate accounting complexity.