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Financial Reporting Articles

Proposed Changes To Litigation Accounting And Disclosures Are Dropped

July 31st, 2012

July 2012 In July 2012, the Financial Accounting Standards Board (FASB) voted to drop a controversial project that would have required companies to disclose more [...]

SEC Staff Report A Big Disappointment To Those Seeking Rapid IFRS Adoption

July 31st, 2012

July 2012 On July 13, 2012, the staff of the Securities and Exchange Commission (SEC) issued a long-awaited report regarding adoption of International Financial Reporting [...]

Accounting Standard Will Require Significantly More Leases To Be Put On The Balance Sheet

June 27th, 2012

June 2012 On June 13, 2012, after more than a year of deliberation, the International Accounting Standards Board (IASB) and U.S. Financial Accounting Standards Board [...]

Private Company Accounting May Become Simpler

June 6th, 2012

May 2012 On May 23, the Financial Accounting Foundation (FAF) Board of Trustees established a new body to improve the process of setting accounting standards [...]

GAO Admits The Big 4 Audit Competition Problem, But Fails To Suggest Any Remedies

January 16th, 2008

January 2008   The U.S. Government Accountability Office (GAO) survey released last week by found that the concentration within the audit firms was a problem, [...]

New Accounting Rule Requires Lawyer Input

June 16th, 2005

June 2005 Lawyers issuing legal confirmation letters to their client’s auditor will have one more item to consider.  No later than December 31, 2005, companies [...]