October 12, 2021
The new lease accounting standards changed in 2019 for public companies. Calendar-year private companies that follow U.S. Generally Accepted Accounting Principles must comply with the updated lease rules in 2022.
January 24, 2021
The FASB has changed and simplified the accounting model for goodwill several times over the past decade. Here is a closer look at the evolution of accounting guidance on goodwill impairment testing and an important distinction between judgment and hindsight when evaluating triggering events in this context.
November 2, 2020
Conditions are ripe during the COVID-19 crisis for dishonest employees to steal assets, engage in corruption schemes and/or misstate financial results. Here’s a look at the fraud triangle and how the motive, rationalization, and opportunity to commit fraud has grown during the pandemic.
December 13, 2019
The AICPA’s Accounting Standards Board voted to finalize a revised definition of “materiality” in its professional standards. Learn what’s changing and why.
November 14, 2019
Equity-based compensation awards can help companies attract skilled workers and boost performance, although at a costly price. A rule change could bring welcome relief.
October 7, 2019
For years, businesses have complained that the guidance for reporting income taxes includes many mechanical rules and exceptions. But changes are coming.
August 12, 2019
A new FASB proposal would delay new accounting rules for leases, credit losses on loans, long-term insurance contracts, and hedge accounting.
April 15, 2019
The Auditing Standards Board is working on a project to amend its definition of “materiality” and address the subtle differences between the international standards and U.S. standards currently in use.
January 11, 2019
The FASB is in the early stages of developing guidance for performance reporting. The goal is to make it easier for investors and securities analysts to understand how a business works using a company’s financial statements.