A bipartisan bill introduced in the House of Representatives on Tuesday would bring more transparency and accountability to US government financial statements by making the Federal Accounting Standards Advisory Board more independent.
A new report by the Certified General Accountants Association of Canada (CGA-Canada) reveals that the adoption of International Financial Reporting Standards (IFRS) has had a noticeable impact on the financial statements of Canadian-listed companies.
Registration is now open for the upcoming Governmental Accounting Standards Board (GASB) webcast IN FOCUS: Overview of GASB Proposals for Financial Statement Users. This live webcast, offered free of charge, will take place on September 5.
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.
In an effort to address the increased demand for comprehensive and intensive training on XBRL, the AICPA and XBRL US Inc., the not-for-profit consortium for business reporting standards, launched the XBRL US GAAP Certificate Program.
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.
FASB plans to discuss issues raised in FAF's review of Statement No. 131, Disclosures about Segments of an Enterprise and Related Information, with stakeholders and the SEC to determine whether further review of the standard is warranted.
On December 12, 2012, the Financial Accounting Standards Board (FASB), in conjunction with the Center for Audit Quality (CAQ), issued a summary of observations from two forums on disclosure effectiveness.
The third annual "Alternative Investment Fund Pro Forma Financial Statements Reference Manual" is a comprehensive guidebook for completing financial statements for hedge and hybrid funds, fund of funds, and master-feeder structures.
New research found that an obscure accounting tool gives US companies the option of omitting from their financial statements, except in footnotes, that any taxes at all are owed to the IRS on profits made by their foreign subsidiaries.
A recent webcast presented by the FASB reviewed key areas of the “Private Company Decision-Making Framework – A Framework for Evaluating Financial Accounting and Reporting Guidance for Private Companies” staff paper.
Parties interested in submitting written comments on the GASB Exposure Draft, "Accounting and Financial Reporting for Nonexchange Financial Guarantee Transactions," should file comment letters by Friday, September 28, 2012.