In an effort to provide public companies with a standardized framework for reporting the ESG issues that affect their industries, the SASB unveiled its first set of provisional sustainability accounting standards.
A joint group created by the FASB and the IASB will be tasked to help organizations transition to the upcoming final converged standard on revenue recognition, the two standards-setting groups announced July 26.
Nearly nine out of ten New Jersey CPAs expect their businesses to grow in 2014, while more than half say their firms are performing better now than at this time last year, according to a recent Capital One Bank survey.
The changes to the guidelines for lease accounting that were proposed in the recent exposure draft from the FASB and the IASB will significantly alter financial reporting standards for both lessors and lessees, according to Fitch Ratings.
A decision-making framework that outlines criteria to determine whether and in what circumstances it is appropriate to adjust financial reporting requirements for private companies following US GAAP was finalized by the FASB and the PCC on July 16.
A post-implementation review will be conducted on a GASB accounting and financial reporting standard for state and local governments regarding the impairment of capital assets and insurance recoveries.
The AICPA gave its support to Senate Bill 273 and House Bill 2041 that would block a 2010 proposal by the Department of Labor to change its definition of fiduciary under the Employee Retirement Income Security Act to include appraisers of ESOPs.
The NASBA and the AICPA have put aside their differences regarding the non-US GAAP financial reporting framework the AICPA introduced last month, and they have teamed on a decision-making tool that will help small businesses decide whether the framework is right for them.
Nearly half of CPAs say they are familiar with the new Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs) released by the AICPA on June 10, according to a recent special report by Thomson Reuters.
The Maryland Court of Appeals on July 9 voted five to two against changing the state's 166-year-old contributory negligence doctrine, which prevents people from collecting damages in a lawsuit if they contributed to their injuries in any way.
The FASB published a new accounting standards update on July 8 that defers indefinitely certain disclosures about investments held by nonpublic employee benefit plans in their plan sponsor's own nonpublic equity securities.
The Governmental Accounting Standards Board (GASB) on July 2 issued for public comment a proposed statement on the transition provisions of GASB's new pension standards for state and local governments.