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.
The FAF and the AICPA released the following statements regarding the retirement on June 30 of Financial Accounting Standards Board (FASB) Chairman Leslie F. Seidman and Governmental Accounting Standards Board (GASB) Chairman Robert H. Attmore.
On June 26, 2013, the Financial Accounting Standards Board (FASB) issued a proposal intended to improve disclosures of uncertainties related to an organization's ability to continue as a going concern.
In boardrooms across the country, finance executives share a common question: Will he stay or will he go? All eyes are on Ben Bernanke amid speculation that he will cede the top spot at the Federal Reserve.
The CAQ and the AAA Auditing Section announced four awards as part of a new program designed to facilitate accounting and auditing academics' ability to obtain access to audit firm personnel to participate in their research projects.
The GASB is seeking public comment on a proposed concepts statement it issued on June 20 that would guide the GASB when establishing standards regarding the measurement of assets and liabilities for state and local governments.
A North Carolina man who was the owner and operator of an investment fund that defrauded investors of approximately $6 million over a seven-year period agreed to plead guilty to securities fraud in US District Court on June 17.
Stating that it would "significantly weaken the financial reporting of private companies," NASBA is recommending to privately held businesses that they not use the FRF for SMEs that was introduced by the AICPA June 10.
The FASB on June 10 endorsed three accounting proposals from the Private Company Council in the hopes of addressing concerns raised by stakeholders about the complexity of certain aspects of US GAAP for privately held companies.
The FASB has developed a new guideline for determining whether a public or private company is an investment company, for which fair value of investments is the most relevant measurement for the company's financial statement users.
The IFRS Foundation has completed the first phase of an important initiative to assess the progress toward global adoption of IFRSs. The G20 has called for global adoption of a single set of high-quality financial reporting standards.
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.