On August 2, 2012, the Governmental Accounting Standards Board (GASB) published standards intended to improve the accounting and financial reporting of public employee pensions by state and local governments.
The 2012 Household Financial Planning Survey shows that those who have prepared a personal financial plan feel more confident and report more success managing their money, savings, and investments than those who haven’t.
Account reconciliation is an underappreciated yet critical control to help ensure an organization's financial integrity. Weaknesses and inefficiencies in the reconciliation process often lead to inaccuracies.
SEC Chairperson, Mary Schapiro, has named Paul Beswick acting chief accountant. As such, he is the commission's new principal spokesperson in the debate over whether the United States should switch to IFRS.
The FASB has issued the Invitation to Comment, Disclosure Framework, to ask for stakeholder input on ways to improve effectiveness of disclosures in notes to financial statements of public, private, and not-for-profit organizations.
The Supreme Court ruled to uphold much of the PPACA, which puts in motion the expansion of the health care system, including the individual mandate requiring all U.S. citizens to maintain minimum health care coverage or pay a penalty.
The recent National Foundation for Credit Counseling online poll allowed consumers to select their greatest financial regret. Of more than 2,200 respondents, 53 percent indicated that habitually overspending was what they most regret.
On June 27, the FASB issued for public comment a proposed ASU intended to improve financial reporting about certain risks inherent in financial instruments and how they contribute to the reporting organization's broader risks.
The ACCA and the IMA have announced their global strategic partnership. The signing of the agreement took place at IMA's Annual Meeting of Members, during IMA's Annual Conference and Exposition in Las Vegas.
J. Stephen McNally, CPA, provides an overview of COSO and his perspective on how it has been leveraged by such companies as Campbell Soup. In addition, he offers insight into COSO's recent ICIF Refresh Project.
A recent global survey on business ethics explored key ethical questions faced by accounting firms. Read the results and see how other accounting firms are addressing the issue of ethics with an internal code of conduct.
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.